M3 Helium Announces Discovery Of High-Grade Helium In Ft. Dodge, Kansas Lease And Upcoming Production Plans

(MENAFN- EIN Presswire)

FORT DODGE 25+ Possible Wells The Fort Dodge has seen rates as high as 2.9 million cubic feet of gas per day were tested, containing a whopping 4.8 percent helium concentration

M3 Helium, has confirmed the discovery of a high concentration of helium in helium-bearing Natural gas at its lease near Fort Dodge, KS.

Voyager Life plc (AQX:VOY)

The discovery of a 4.8% helium concentration, coupled with actual reservoir pressure and flow rates, sets M3 Helium apart from other explorers.” - Anthony MelikhovLONDON, LONDON, UK, July 11, 2024 /EINPresswire / -- M3 Helium, a producer of helium based in Kansas, USA which recently announced signing of an option to be acquired by Voyager Life PLC (VOY), a publicly listed British company, in the exchange of 57,611,552 new ordinary shares issued by VOY to Company's shareholders, has confirmed the discovery of a high concentration of helium in helium-bearing natural gas at its lease near Fort Dodge, KS. The company intends to commence production, purification, and sales of helium from this area in the fourth quarter of 2024.

During operations in June 2024 on an existing well in Ft. Dodge, M3 Helium conducted gas sampling, which was analyzed by an independent laboratory in Liberal, KS. The analysis revealed a helium concentration of 4.83%, along with 85% nitrogen and 6% methane.

"The discovery of a 4.8% helium concentration, coupled with actual reservoir pressure and flow rates, sets M3 Helium apart from other explorers. These essential data points, combined with our infrastructure to purify and sell helium on-site, present a compelling opportunity for M3 Helium to expand operations and generate significant revenue in a relatively short period," said Anthony Melikhov, CEO of M3 Helium.

The operation confirmed the presence of highly elevated helium along with low hydrocarbon-bearing gas from a permeable reservoir with a bottom hole pressure of over 1400 psi. Increasing gas volumes were observed as the native brine level was lowered in the well bore. During sampling, daily helium production was indicated to be over 47,000 cubic feet per day (47.1 Mcfd). Remarkably, this flow rate was achieved while over 1,000 ft. of water and gas mixture covered the perforations. The well's full potential is expected to be realized as fluid levels are reduced, decreasing resistance to flow through consistent pumping.

Plans for Further Development and Scaling Up

Over the next several months, M3 Helium plans to complete this well by installing downhole equipment and connecting it to the existing injection well, which is also owned by M3 Helium. Appreciable volumes of brine will need to be produced and managed properly in order to recover the helium. Currently plugged, the well will be recompleted under our lease, subject to approvals by landowners.

M3 Helium owns a specialized mobile PSA Plant and other equipment necessary to purify helium to a 45-55% concentration level. The company has preliminary agreements with end purchasers to compress the concentrated product into tubing and ship it via special tube trailers provided by the buyers. M3 Helium aims to begin production and revenue collection from the existing well by the last quarter of 2024.

By acquiring nearby leases and utilizing its infrastructure and injection well, M3 Helium has the opportunity to greatly expand production in this area and significantly increase revenue in the coming years. Success in the initial stages of this project will align with other developments in the northern part of the Hugoton Gas Field.

Strategic Capital Access and Project Expansion

In the immediate term, and through its proposed combination with Voyager Life PLC, M3 Helium will have access to capital to drill and complete further vertical and horizontal wells within the coming months.

About M3 Helium

M3 Helium is a gas extraction company focused on helium exploration and production. The company leverages existing infrastructure, historical data, strategic relationships, and economical production methods to meet the growing demand for helium in various high-tech and medical industries. As a one of the leaders in the helium industry, M3 Helium employs advanced helium extraction techniques to tap into rich helium reserves, ensuring a robust supply chain. Our innovative helium technology and commitment to sustainable practices position us at the forefront of the global helium market.

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