Avanti Energy has finished completions on the Flathead Cambrian Zone on its WNG 11-22 well in Greater Knappen, Montana, and has reported “major” helium discovery.

The firm on Wednesday (13th April) said its preliminary lab results show the gas composition of the Cambrian Zone to be 97.5% nitrogen, 1.1% helium, 1.1% methane and 0.3% carbon dioxide (CO2).

Based on such results, Avanti Energy has confirmed it is pursuing a facility design based on an inlet production rate of five million cubic feet of helium per day (mmcf/d) of raw gas, resulting in an estimated 55Mcf/d of net helium.

Chris Bakker, CEO of Avanti Energy, said, “The testing results of the WNG 11-22 well’s Flathead Cambrian zone is further evidence of the potential of Avanti’s Greater Knappen property.”

“To have these results from only our second well is an incredible outcome and testament to the quality of our entire team.”

Of course, with helium being a concern on many minds right now, Avanti Energy’s discovery couldn’t come at a better time – something which Bakker highlighted when discussing the firm’s progress.

Bakker continued, “With the Amur plant in Russia remaining offline for the foreseeable future and the suspension of production at the US Government (BLM) plant in Amarillo, Texas, the broader helium market continues to show incredibly favourable conditions.”

“With wholesale prices exceeding $600/mcf and retail prices as high as $2,000/mcf our focus is shifting to facilities engineering and commercial agreements with a goal of realising cashflow as quicky as possible.”