Rudyard – Ollie #1 Well Spud
Helix Exploration PLC has spudded the Ollie #1 well on September 14, 2026, targeting the same formations as its three existing Rudyard field production wells, Darwin #1, Linda #1, and Weil #1. This new well, intended to be the fourth production well in the Northern Dome, has an estimated total depth of 5,500 ft and is expected to take approximately 21 days to drill, followed by testing. Subject to successful results, Ollie #1 will be tied into the existing gathering system and connected to the PSA Plant, with the company also planning to install a new membrane to increase throughput capacity. Helix has acquired its own drilling rig, providing operational control for its planned production expansion program.
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Helix Exploration PLC (AIM: HEX, OTCQB: HEXFF), the US-focused helium production and liquefaction company, is pleased to announce that the Ollie #1 well was spudded on 14 September 2026.
Helix has three production wells at Rudyard - Darwin #1, Linda #1 and Weil #1 - all of which have produced high grade, commercial helium and are connected to the gathering system, providing throughput to the PSA plant.
Ollie #1 is intended to be the fourth production well in the Northern Dome of the Rudyard field and is targeting the same proven Souris River and Red River formations that the current well stock have produced from. The northernmost well in the Northern Dome, the well is situated approximately one mile north of Weil #1.
The Ollie #1 well has an estimated total depth of approximately 5,500 ft and is expected to take approximately 21 days to drill, followed by wireline logging, extended flow testing and gas analysis.
Subject to flow testing and gas analysis, Helix intends to tie the well into the existing gathering system at Weil #1 and connect it to the PSA Plant, within the existing current membrane capacity.
A further announcement will be made upon completion of the Ollie #1 well.
The Company is currently surveying several additional helium well locations as candidates for the next well following completion of Ollie #1, as part of its planned production expansion programme.
Bo Sears, Chief Executive Officer, commented:
"We're delighted to be drilling Ollie #1 - intended as the fourth production well at Rudyard, joining Darwin, Linda and Weil. This represents the next stage of the Company's drilling campaign at the Rudyard field to increase production. This will be carried out in parallel with the planned purchase and installation of a new membrane, which the Company expects to increase the available throughput capacity of the facility and, subject to production volumes and sales arrangements, support increased sales volumes in due course.
We appreciate the timely permitting of the Ollie #1 well by the Montana Board of Oil and Gas Conservation. Having acquired our own drilling rig this summer, Helix now has full operational control over its field expansion programme, and we are surveying options to be the next well in the programme following completion of Ollie #1."
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