WORSLEY HELIUM PROJECT
![]() |
HELIUM DISCOVERY WELL “15-25” UNDERPINS PROJECT DEVELOPMENT
|
![]() |
UPSIDE DEVELOPMENT ON ADJACENT HELIUM PROSPECTIVE LANDS
|
![]() |
HELIUM PRODUCTION GROWTH VISIBILITY
|
The Worsley Project is a
100% owned
60,000-acre
land package covering the prolific Leduc Reef Trend in Northern Alberta, Canada.
WORSLEY UNDEVELOPED LANDS
Along the Worsley Trend, oil and gas companies have drilled over 270 wells into the Leduc Formation or deeper. This provides First Helium with an excellent data set to pursue the exploration for helium and hydrocarbons along the trend.
WORSLEY AREA POTENTIAL
The Company estimates that the Leduc Formation has produced about 1 billion cubic feet of unrecovered helium in historical natural gas production.
First Helium’s discovery well 15-25, drilled in 1999, contains 1.3% helium and 26% nitrogen. The operator shut the well in and didn’t produce it due to high nitrogen content, and lower heating value natural gas. However, today the value of the helium changes the economics of these wells.
The granitic rocks underlying the area generate helium from natural radioactive decay. The helium has migrated up into the same rocks that trap hydrocarbons. The Peace River Arch and the Worsley Trend in particular, host multiple formations in addition to the Leduc that contain such traps.
Worsley discovery wells
HELIUM DISCOVERY WELL 15-25
- 1.3% HELIUM
- 10 DAY FLOW TEST @2MMCF/D
- 65% NATURAL GAS & 12 BBLS/MMCF OF CONDENSATE
- CONFIRMS 3D SEISMIC MODEL
HELIUM TARGET WELL 14-23
- HORIZONTAL WELL
- CASED, AWAITING COMPLETION
- SUCCESSFUL TEST SETS UP POTENTIAL REGIONAL PLAY
LIGHT OIL DISCOVERY WELL 1-30
- DRILLED ON 3D SEISMIC
- ON-STREAM JANUARY 23, 2022
- WELL PAY-OUT < 2 MONTHS
LIGHT OIL DISCOVERY WELL 4-29
- DRILLED ON 3D SEISMIC
- ON-STREAM APRIL 8TH, 2022
Worsley PIPELINE INFRASTRUCTURE ACQUIRED
Legend:
- Acquired Gathering Lines
- Natural Gas Sales Line (TC Energy)
- 3rd Party Gathering & Processing
NATURAL GAS GATHERING SYSTEM
- 46 km of natural gas gathering lines
- Facilitates development across entire Worsley Trend
- Estimate replacement cost of $7 - 9 mm
- Includes ~ 3,700 net acres of undeveloped land
- All-in acquisition cost < $750k