HELI.V REVIEW OF OIL PRODUCTIONFirst Helium expects to commence production of light oil from 1-30 at an estimated rate of 400 barrels per day, with expected field netbacks of CA$45.00 to CA$50.00 per barrel based on a current WTI price of US$68.00 to US$73.00 per barrel
Strong revenues continue through the receipt of payments of $1.25 million for light oil volumes delivered during February from the "1-30" well which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta, Canada. The 1-30 well was brought on-stream on January 23, 2022, and produced an average of approximately 430 barrels per day
Strong cash flow continued through the receipt of payments of approximately $1,200,000 for light oil volumes delivered during March from the "1-30" well which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta, Canada. The 1-30 well was brought on-stream on January 23, 2022, and produced an average of approximately 430 barrels per day ("bbls/d") of light oil during the month of March.
CALGARY, AB, June 13, 2022 /CNW/ - First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it has received $1.2 million for light oil volumes that the Company delivered for sale during the month of April.
During the month of May, the Company produced approximately 272 barrels per day ("bbl/d") and delivered approximately 8,200 barrels of light oil for sale