Avanti Energy to spud first helium well at Greater Knappen, Montana
Avanti Energy Inc. [AVN-TSXV; ARGYF-OTC] will spud the company’s first helium well (Rankin 01-17) today on its 100%-owned Greater Knappen area in Montana.
The Rankin 01-17 well is expected to take approximately 14 days to reach a total depth of approximately 6,100 feet. The location exhibits a structural high with the potential for multiple pay zones and is the first of three exploration wells targeting distinct structures in both the Devonian and Cambrian formations. Once Rankin 01-17 drilling is completed, the T&S Drilling rig and crew will move to the company’s second well location in Greater Knappen.
“Spuddng the first of three appraisal wells in Greater Knappen is a significant milestone for our company,” said Chris Bakker, CEO. “We have reviewed dozens of opportunities in the past year and selected this as a high-priority area for the company’s inaugural drilling program. To have assembled the land, completed the internal systems required to undertake an initial multiwell helium drill program and be spudding before year-end is an achievement of which the entire team is incredibly proud.”
Greater Knappen area highlights include approximately 69,000 acres of potential helium-rich properties across both Montana and Alberta, over which the company maintains 100% ownership. Ten closed structural highs exhibit relief of 70 metres to greater than 200 metres, that are ideal for trapping helium.
In 2021, helium production commenced from a well drilled in the immediate area by a separate company, from the same zones targeted by Avanti’s technical team, further validating the company’s model.
Other wells surrounding Avanti’s lands have high-helium shows in multiple Devonian and Cambrian targets, with helium percentages of up to 2% and nitrogen percentages of up to 96%.
Avanti continues to evaluate multiple opportunities across Western Canada and the United States to build an industry-leading helium company with a premier portfolio of prospective lands.