Grand Gulf Energy (ASX:GGE) gets green light to spud Jesse-2 well, Utah


  • Grand Gulf Energy (GGE) is set to spud its Jesse-2 well in Utah, with the drill permit now in hand
  • The company received approval of the Permit to Drill from the Utah Division of Oil, Gas and Mining (UDOGM) for the well within its wider Red Helium project
  • Drilling has been scheduled for early in the first quarter of 2023, with multiple rig operators indicating availability during this time
  • After “highly encouraging” results from Jesse-1A, Managing Director Dane Lance says the company is “excited” to be back in the field for Jesse-2
  • Shares in Grand Gulf last traded at 1.9 cents on January 5

Grand Gulf Energy (GGE) is set to spud its Jesse-2 well in Utah, with the drill permit in hand.

The company received approval of the Permit to Drill from the Utah Division of Oil, Gas and Mining (UDOGM) for the well within its wider Red Helium project.

Drilling is expected to get underway in the first quarter of 2023 as negotiations advance, spurred on by multiple rig operators indicating availability during this time.

After “highly encouraging” results from Jesse-1A, Managing Director Dane Lance said the company is “excited” to be back in the field for Jesse-2.

“The Jesse-2 well engineering has incorporated the lessons learned from the evaluation program on the maiden helium exploration well to minimise risk of water production by staying high in the column.

“Coupled with the managed pressure drilling program to maximise well deliverability, which also allows preliminary flow evaluation whilst drilling, the drilling of Jesse-2 in Q1, 2023 will be an exciting period for the company,” Mr Lance said.

Jesse-2 is located around 2.4 kilometres south-east of the Jesse-1A discovery well and within the same structure, which intersected a 200 foot gas column and returned 1 per cent helium to surface.

Additionally, Jesse-2 is adjacent to an existing pipeline connected to an off-take partner, which GGE said enables the potential of near immediate monetisation of a commercial well.

Shares in Grand Gulf last traded at 1.9 cents on January 5.


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