Helium Evolution, a Texas-based oil and gas exploration company, recently announced a farm-in partnership with an unnamed partner, through which the companies intend to drill a second jointly operated well.
The company announced the partnership on July 3rd, stating that they will be offering their partner a 50 percent interest in the Exploration 1-C well in return for the entire cost of drilling and a contribution of the necessary capital. The well is located in Grayson County, Texas, and Helium Evolution is the operator of the well.
Helium Evolution President Jeffrey Stone stated that the company is “happy to partner with this well-seasoned operator who shares in our vision for exploring the Permian Basin area.” He also noted that “this additional effort is expected to increase Helium Evolutions’ chances at getting a better return on investment in this project.”
The second well, Exploration 1-C, is part of the company’s ongoing efforts to explore for, and eventually develop, a new natural gas basin. The company is optimistic that this new well will provide valuable insight into the geology of the area and help the company identify potential prospects.
Helium Evolution has had a long history of success drilling and operating wells, and the company hopes that this second joint venture will be a successful endeavor as well. The company has over 25 years of experience in the natural gas industry.
The company plans to announced additional information on the Exploration 1-C well in the near future as the project progresses.
The planned partnership between Helium Evolution and its unidentified partner marks a significant development in the oil and gas exploration sector in Texas. It is yet another example of a successful partnership between two well-established companies and a testament to the ongoing growth of the industry. It will be interesting to see the outcome of the Exploration 1-C well and what it could potentially bring to the oil and gas industry.
“Helium Evolution Doubles Down: Farm-In Partner to Drill Second Joint Well
