Helium One Completes Successful Galactica Drilling Campaign
Why we think this is neutral
This RNS provides a general update on the progress of Helium One's Galactica project, including details on the successful completion of the 2025 drilling campaign and next steps for the project. While the update is positive, it does not fall into any of the mandatory news categories that would warrant a more detailed analysis.
Key Points
- Successful completion of the 2025 Galactica development drilling programme
- Consistent positive results across all six wells in the programme confirm the production potential and near-term monetisation opportunity
- Next steps include advancing the Galactica wells to initial production in Q4 2025, utilising the planned processing facility
- State-9 well flowed naturally during drilling and at Total Depth, with projected stabilised flow rates between 400 Mcfd to 500 Mcfd
- Early gas samples from State-9 show helium concentration up to 1.52% and 80.48% CO2
Summary
Helium One Global (AIM: HE1) has provided an update on the Galactica-Pegasus helium development project in Colorado, USA, in which it holds a 50% working interest. The update highlights the successful completion of the 2025 Galactica development drilling programme, which significantly advanced the project. The results support finalising the development plan and fast-tracking the project to commercial production, with the next steps including advancing the Galactica wells to initial production in Q4 2025.