Pulsar Helium drilling Jetstream No. 2 well at Topaz, Minnesota
Pulsar Helium Inc. [TSXV: PLSR] began drilling the Jetstream No. 2 appraisal well on January 16, 2025, at its flagship Topaz project in Minnesota. Jetstream No. 2 is planned to reach approximately 5,000 feet (1,524 metres) depth and is scheduled to reach total depth (TD) around the end of January 2025.
This will be the second gas appraisal well drilled at the Jetstream prospect within the Topaz project and is designed to provide data on reservoir properties, including porosity, permeability and well connectivity, which will be utilized in the next iteration of resource estimation, production modelling and further appraisal well planning.
Upon completion of drilling the Jetstream No. 2 well, down-hole wireline logs will be collected, and an optical televiewer run at both Jetstream No. 1 and No. 2. Flow testing and pressure build-up monitoring are planned for both wells in early March following a postdrill stabilization period.
As mentioned in news release of January 13, 2025, the company successfully completed deepening the Jetstream No. 1 appraisal well, reaching a TD of 5,100 feet (1,555 metres) on January 11, successfully penetrating the current interpreted helium-bearing zone. Mud log gas levels containing up to 7.24% helium were encountered during drilling. These samples are diluted by atmospheric air due to the rotary air drilling method used, and unaffected samples for laboratory analysis will be acquired in due course.
The Jetstream No. 1 appraisal well previously reached TD of 2,200 feet (671 metres) on the February 27, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and carbon dioxide concentrations exceeding 70% with the latter expected to further contribute to the project economics. The deepening of Jetstream No. 1 is a pivotal step in advancing Pulsar’s strategy to address the increasing global demand for helium as the company moves another step closer to production. The deepening of Jetstream No. 1 will target the full height of the helium reservoir, guided by insights from recently acquired survey data, previous drilling phases and on-site testing.
Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota and the Tunu helium project in Greenland. Pulsar is the first-mover in both locations, with primary helium occurrences not associated with the production of hydrocarbons identified at each.