Blue Star Helium has 11 approved helium development well locations at its Galactica/Pegasus project. The company received approval for drilling (Form 2) for four of the locations in January 2023. An additional three locations received approval later that year. In January 2024, the Colorado Energy & Carbon Management Commission (ECMC) approved an OGDP relating to four additional proposed helium development wells at the Galactica/Pegasus project.
The company is targeting Q4 2024 for the installation of the production facility and the tie-in of wells. Blue Star is evaluating a range of financing options for its Galactica Pegasus project, including farm-out opportunities.
The company also has three additional approved drilling locations that require final drill Form 2 approvals before additional wells can be drilled. It is expected that a second well will be drilled, and the existing Sammons well will be completed for production, in anticipation of the installation of the initial facility.
