Helium One Global has announced progress in its Galactica project, following a six-well drilling program. The project is a key component of the broader galactica-Pegasus strategy, aimed at achieving commercial production of helium and CO2. The focus is on a systematic approach to developing the Lyons formation reservoir.

The drilling program has reportedly yielded positive results, meeting the company’s expectations. Significant helium and CO2 concentrations were identified, demonstrating promising funding potential. With the 2025 drilling campaign complete, the focus shifts to advancing the Galactica project towards initial commercial production via the Pinon Canyon system. This system is being designed and operated by Cimarron Midstream (formerly IACX Energy LLC) near the Jackson-31 well.

Phase 1: Pinon Canyon System Commercial Production

The initial phase targets commercial helium production from the Pinon Canyon system by the fourth quarter of 2025. This will involve connecting the first group of production wells to the helium and CO2 processing system.

Key activities for achieving this goal include:

1. Finalizing system planning: Technical studies for the Pinon Canyon system are underway, incorporating data from the recent drilling campaign. Final design of the helium and CO2 processing system will be determined upon completion of gas analyses and flow modeling.
2. Site preparation: Construction at the approved Pinon Canyon system location will commence once system planning is finalized.
3. Equipment mobilization: Plant equipment will be moved to the Pinon Canyon site in accordance with site preparations.
4. Well connections and compression: Initial production wells will be connected, with gas compression at the wellhead, in parallel with site construction.
5. Commissioning: Following system completion and well connections, the Pinon Canyon system will undergo testing and commissioning.

“The program has delivered encouraging results that meet expectations…demonstrating promising funding potential.”

This is contingent upon standard operating permits, environmental regulations, and final reviews. This initial production phase aims to generate early cash flow and provide operational data for optimizing plans to develop the Galactica field and the broader Galactica-Pegasus project. Production forecasts and commissioning schedules are subject to factors including final technical planning, permits, equipment availability, and market conditions.

Phase 2: Production Increase and CO2 Monetization

Following the triumphant commissioning and startup of helium production in the Pinon Canyon system, Phase 2 will focus on increasing helium production and monetizing CO2 through existing systems.