First Helium Inc. discovered shallow heavy oil and helium-enriched natural gas, planning for development

From GlobeNewswire: 2025-03-20 07:00:00

First Helium Inc. announced a shallow heavy oil discovery in the 7-30 well, recovering 50 barrels of 15-degree API oil after an acid stimulation. The company also found helium-enriched natural gas in the Blue Ridge Formation, with 1.0% helium content. Plans are underway to develop these potentially large plays.

The shallow heavy oil opportunity at Worsley includes a large volume of oil in place, estimated at 5 million barrels per square mile, with attractive rate of return estimates. The Blue Ridge opportunity extends from West Worsley to the eastern block, providing infrastructure advantages for development. The Leduc Formation targets for light oil, natural gas, and helium are being refined based on recent drilling data.

First Helium’s President & CEO, Ed Bereznicki, highlighted the company’s multi-formation approach, balancing higher-impact Leduc targets with systematic development opportunities in the Heavy Oil Zone and Blue Ridge Formation. The company plans to provide more detail on development plans for each opportunity in the coming quarter.

Led by a Senior Executive Team with diverse backgrounds, First Helium aims to be a leading provider of helium gas in North America. The company holds over 53,000 acres in the highly prospective Worsley Trend in Northern Alberta, with successful oil wells supporting exploration and development growth. Plans include developing numerous follow-up drill locations and expanding infrastructure for future projects.



Read more at GlobeNewswire: First Helium Announces Shallow Heavy Oil Discovery