Helios Energy (ASX:HE8) poised for frac job at Presidio Well, Texas

• Helios Energy (HE8) is preparing for a frac job at its Presidio Well 52 number one in Texas on January 10
• Helios has planned a four-stage vertical frac across the 1,623 feet interval between the lower bench of the Ojinaga Formation and the bottom of the casing
• The hydraulic fracturing work is subject to the contracted crew completing the progress frac job on time
• So far, Helios says three water storage facilities have been completed, and frac tanks and six sand silos are on site and functionally tested
• Company shares last traded at 7.5 cents on January 5

Helios Energy (HE8) is gearing up for a frac job at its Presidio Well 52 no.1 in Texas.

The hydraulic fracturing work is scheduled for January 10, subject to the contracted crew completing the progress frac job on time.

Ahead of this work, Helios said three water storage facilities had been completed and filled with water, while frac tanks and six sand silos were on site and functionally tested.

Helios has planned a four-stage vertical frac across the 1,623 feet interval between the lower bench of the Ojinaga Formation and the bottom of the casing including Eagle Ford and Boquillas.

A total of 120,000 barrels of frac water will be used, along with 3,000,000 pounds of frac sand.

The frac job has been designed to reflect the highly naturally fractured intervals existing within the vertical zone.

Once complete, the company said the intervals will be co-mingled as a vertical completion for production purposes.

Back in 2018, HE8 completed a one stage frac in the Quinn Creek 141 well to test the lower Ojinaga Formation, which flowed 260 barrels of oil and 1,345 barrels of completion fluid in 168 hours.

The lower bench of the Ojinaga Formation is approximately 330 feet thick with uniform rock characteristics and it is predominantly black shale with micro laminations of siltstone and fine carbonates.

Company shares last traded at 7.5 cents on January 5.