Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has successfully completed its 2025 development drilling programme at the Galactica-Pegasus project in Las Animas County, Colorado, where it holds a 50% working interest alongside joint venture partner Blue Star Helium.
All six wells drilled during the campaign delivered positive results, confirming the project’s production potential and near-term monetisation prospects. “This has been a successful development campaign, with consistently good flow rates and helium concentrations within the expected ranges,” said chief executive Lorna Blaisse.
The State-9 well naturally flowed during drilling, achieving rates of over 360 thousand cubic feet per day (Mcfd) and recording helium concentrations of up to 1.52%. Stabilised flow rates across the wells are projected to range from 400 to 500 Mcfd, with peak performance expected to reach 600 Mcfd.
Helium One plans to begin initial production in the fourth quarter of this year, using the Pinon Canyon Plant, which will be installed near the Jackson-31 well.
“We appreciate the efforts of Blue Star in driving this operation and look forward to bringing these wells online and targeting first production and cash flow later this year,” Blaisse added.
The company has outlined a clear roadmap toward production, including plant construction, well tie-ins, and commissioning. Looking beyond first production, a second phase will focus on increasing helium output and monetising CO₂ resources.
In parallel, the joint venture is working on a marketing strategy to secure offtake agreements as it positions the project for long-term commercial success.
