- Avanti Helium (AVN) is now finished the drilling phase of its appraisal well at its Greater Knappen Project in Montana
- The Calgary-based oil and gas explorer said the well-encountered helium-bearing gas in both the Souris River and Flathead zones
- The company’s technical team will now complete and test the well when the completions rig arrives
- Avanti Helium is up 5 percent, trading at $0.63 at 10:43 am EST
Avanti Helium (AVN) has finished the drilling phase of its appraisal well at its Greater Knappen Project in Montana.
The Calgary-based oil and gas explorer said the well-encountered helium-bearing gas in both the Souris River and Flathead zones.
The company’s technical team will complete and test the well when the completion rig arrives in approximately 10 days.
“We are very encouraged with the helium shows in WNG 10-21, and the potential of this appraisal well,” said Avanti Helium VP Operations Cam Buss.
“Completions will help us to further understand the reservoir size and deliverability for future centralized production facility design for the WNG helium pool.”
The company continues to actively target untapped potential helium reserves to help meet the increasing global demand in the advanced technology, medical and space exploration industries.
Avanti Helium is up 5 percent, trading at $0.63 at 10:43 am EST.