I wouldn't say at this stage that they have 'Basically abandoned...

I wouldn't say at this stage that they have 'Basically abandoned Voyager';

it sounds more like it's still under review, but they are pushing ahead with trying to commercialise where they know it can bring in faster returns.

A few links to keep an eye on..

Main list
https://ecmc.state.co.us/cogisdb/FATools/wellList?opnum=10763

Bolling #04 SESW 2960
https://ecmc.state.co.us/cogisdb/Facility/FacilityDetailExpand?api=07109933

BBB #33 SESE 2860
https://ecmc.state.co.us/cogisdb/Facility/FacilityDetail?api=07109926Then the new one getting ready as per release.

State 09 SWSE3054
https://ecmc.state.co.us/cogisdb/Facility/FacilityDetailExpand?api=07109923

With the latest updates, here’s how the Galactica/Pegasus project compares to the Red Rocks operation:

Galactica/Pegasus Project:

• Development Stage: The project is advancing towards production with several wells permitted and more in the permitting process¹.
• Production Timeline: Targeted for first production in 2024, with a range of commercialization pathways under consideration².
• Infrastructure: Plans include an initial leased plant and third-party operated option, with potential expansion to include a CO2 by-product stream².
• Regulatory Approvals: The Colorado Oil and Gas Conservation Commission (COGCC) has approved the Oil and Gas Development Plan (OGDP) for three proposed helium development wells¹.

Red Rocks Operation:

• Current Production: Red Rocks has been producing helium since February 2023 from two wells, with a third well added in October 2023³.
• Production Rates: The wells have consistent production rates of approximately 400-500 mcf/d of raw gas with a high helium concentration of around 6%³.
• Infrastructure: Utilizes an IACX-operated helium recovery plant to process the raw gas³.

Comparison:

• Maturity: Red Rocks is currently in the production phase, while Galactica/Pegasus is still in the development phase but moving towards production.
• Production Rates: Red Rocks has established production rates and helium concentration, which Galactica/Pegasus aims to match or exceed with its planned wells.
• Infrastructure and Operations: Both projects are considering similar infrastructure models, with third-party operated plants being a common theme.
• Market Impact: The commencement of production at Red Rocks supports the viability of the adjacent Galactica/Pegasus prospect, indicating a positive outlook for the region’s helium production capabilities.

In summary, Red Rocks is ahead in terms of production, but Galactica/Pegasus is making significant strides in its development plan, with a larger scale project and multiple wells expected to contribute to its production profile. The success of Red Rocks augurs well for the commercial prospects of Galactica/Pegasus, suggesting a strong future for helium production in the region.

I left the links for references for those that want to have a bit of a read..

Of course there is still 100% chance this team is back to market with hand in cap before any actual sales ...

@HotCopper Admin - Dam this editor sucks now.. needs a HTML review on it as it jumps all over the place in formatting