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Grand Gulf Energy: Approved for third drill location in Utah as Jesse-2 approaches reservoir

Grand Gulf Energy Approved for third drill location in Utah as Jesse-2 approaches reservoir

  • Grand Gulf Energy (GGE) receives approval to drill a third location at its Red Helium project in the Paradox Basin of Utah
  • The company is preparing for its Jesse-2 well to penetrate the top of the Leadville formation next week
  • With the new drilling permit in hand, GGE says it would be able move ahead with a follow-on development well if Jesse-2 proves to be successful
  • So far at Jesse-2, compositional analysis of mud gas returns identified multiple zones with helium concentrations 17 times above background levels
  • GGE shares last traded at 2.3 cents on April 5
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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