Blue Star Helium achieved significant flow rates and operational efficiencies at its State 16 well in the Galactica helium project, Las Animas County, Colorado. The well performed in line with expectations, supporting production optimisation as Blue Star prepares to drill additional development wells. The successful analysis of the State 16 and JXSN wells has informed development planning, with flow rates between 250-780 mcf/d depending on conditions and configurations. Blue Star has also received approval for the Galactica /Pegasus OGDP, paving the way for five new wells that will integrate into the existing infrastructure and helium production facility. The share price is up ~15% since the news but still down 60% YTD to 1st July 2024.
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