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Quantum Helium Confirms Helium, Oil Potential at Sagebrush-1 Well in US
Quantum Helium (QHE.L) on Monday confirmed the presence of helium-bearing gas, reservoir connectivity, and commercial oil production at the Leadville Formation at the Sagebrush-1 well in Colorado, US.The helium, hydrogen, and hydrocarbon company's update follows the completed extended production test in the area, which confirmed helium concentrations of 2.5%, compared with typical industry concentrations of 0.3% to 1.0%. The company also identified commercial oil production at a depth of between 7,250 feet and 7,360 feet, with potential rates of up to 40 barrels per day gross to working interest.Quantum Helium will carry out additional perforation and completion modifications to improve reservoir exposure.
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