Helix Exploration CEO on record helium reading at Ollie #1 well as Rudyard drilling accelerates

It has been better than expected. Uh, you know, the the rig will end up paying for itself over the course of a of a few wells.

Uh, we're not paying, you know, day rates on a rig, we're only paying the labor.

Hello, you're watching Proactive. I'm joined by Bo Hughes, the CEO of Helix Exploration.

Bo, very good to speak with you. Ollie one's delivered your highest mud log helium reading at Rudyard by some distance. How encouraging is that result?

It it's incredible, uh, Stephen. I was up there during the drilling and uh we noticed it in real time.

It was uh fascinating really because I've never seen anything quite that high.

Uh, that's it was upwards of of a half a percent in the mud system and the mud system is obviously very heavy and it it it pushes back gases that flow into the mud as you're drilling. So,

it's it was a quite a unique instance. Um, so we're extremely encouraged by it.

The well was completed in just 20 days and under budget. How much of an advantage is owning your own drilling rig as you scale the field?

It has been better than expected. Uh, you know, the the rig will end up paying for itself over the course of a of a few wells.

Uh, we're not paying, you know, day rates on a rig, we're only paying the labor. So owning that rig has turned out to be an incredible business decision. We're very pleased with it. We're pleased with the crew.

Uh, it's a game changer, as they say.

Bo, you're now looking to bring in a workover rig for perforation and flow testing. What do you need to see from Ollie 1 before you can add it to production?

We need to just have similar results to like all of our other wells. Uh the logs on on the Ollie number one look fantastic, better actually than than many of the other logs.

So, uh, you know, we expect to uh perforate those intervals and and see what see what she has.

Uh Ross number one's already lined up as the next well. How does that fit into the bigger plan to keep expanding Rudyard production?

We have surveyed quite a few locations for additional drilling. So we're not slowing down at all. The the pad is uh is built on the Ross number one and we intend to get after it as quickly as possible.

As far as the the grand picture of of Rudyard, there's a lot more wells to drill. We're really excited.

So what should your investors be watching for next then, Bo?

More wells, more gas, more helium.

I hope you'll keep us updated with progress on that. Bo, thank you very much for your time today.

Thank you, Stephen.