- Grand Gulf Energy (GGE) begins drilling operations at its Jesse-2 well in Utah
- The well was spudded on March 14 and drilling is progressing towards the first casing point at 3101 feet
- GGE anticipates the well will reach a projected true vertical depth of 8150 feet in the middle Mississippian Leadville Dolomite formation within a month
- The company’s Managing Director Dane Lance says drilling Jesse-2 is a “significant milestone” in the Red Helium project, and promises to be an “exciting period”
- GGE shares are up 7.7 per cent trading at 2.8 cents at 3:10 pm AEDT
Grand Gulf Energy (GGE) has begun drilling operations at the Jesse-2 well within its Red Helium project in South East Utah.
The well was spudded on March 14 and drilling is progressing toward the first casing point at 3104 feet.
GGE anticipates the well will reach a projected total depth of 8150 feet true vertical depth subsea in the middle Mississippian Leadville Dolomite formation within a month.
The company’s Managing Director Dane Lance said GGE was “thrilled” to be back in the field for the Jesse-2 helium well, which is situated in one of the “most highly sought after and prolific helium regions in the world”.
“Commencement of drilling operations represent a significant milestone in the project,
underpinned by a rigorous technical basis, and promises to be an exciting period for the company,” Dane Lance said.
“With direct access to market of the world’s largest helium consuming country, during one of the most acute and prolonged helium shortages ever experienced, Grand Gulf is well positioned to take advantage of one of the world’s most critically scarce commodities – when the world needs it most,” Mr Lance said.
GGE shares were up 7.7 per cent trading at 2.8 cents at 3:10 pm AEDT.