Grand Gulf Energy Ltd received drill permit for Jesse-2 Helium Well

Grand Gulf Energy Ltd (ASX: GGE) announced that it had received approval for the Permit to Drill from the Utah Division of Oil, Gas, and Mining (UDOGM) for the possibly company-making second pure-play helium well, Jesse-2, at the Red Helium project. The company is now in a position to conduct drilling in the initial Q1 2023, with progressive negotiations with multiple rig operators signifying availability over Q1 2023.

The Jesse-2 program will solely target the gas pay zone to minimise the risk of water production, with the scheduled total well depth terminating at least 50 feet above the recognized gas/water contact at Jesse-1A. The drilling program includes managed pressure drilling via the main Leadville formation minimising formation damage. The program helps the company to enhance mud-gas returns and real-time monitoring of reservoir gas flow and gas compositions using mass spectrometry.

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