15th Apr 2024 11:55
(Alliance News) - Helix Exploration PLC said it has signed a strategic partnership with Petroleum Consultants LLC.
Helix Exploration is an exploration company focused on the commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome located in central Montana.
It started trading on London's AIM on Tuesday last week.
The company's shares were down 0.8% to 10.91 pence each in London on Monday morning. Since its initial public offering, the stock is up 5.1%.
Helix said that Petroleum Consultants management team leverages over 40 years' combined experience in hydrocarbon exploration and development.
It added that its choice was based on Petroleum Consultants "extensive operational experience" within Montana and across the US.
Helix explained that the contract marks the start of its phase 1 work programme, as well as the first steps towards the delivery of its drilling campaign in the third quarter of this year.
Chief Executive Bo Sears said: "This collaboration entails comprehensive drilling engineering services encompassing well design, completion design, flow-testing procedures, and overall wellsite supervision. Leveraging their extensive experience in the State of Montana and across the broader Rocky Mountain regions, Petroleum Consultants will play a vital role in optimising our drilling and testing processes."
By Sophie Rose, Alliance News senior reporter
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