Highlights

  • Helix has secured a rig to re-enter Inez #1 well for hydrogen and helium evaluation.
  • Coring of ultramafic rocks targets natural hydrogen generation potential in North America.
  • High mantle helium signatures confirm deep Earth connections and energy prospectivity.

Helix Exploration PLC (LSE:HEX), a helium-focused exploration company with assets in the Montana Helium Fairway, has finalized a drilling rig contract to re-enter its Inez well at the flagship Rudyard Project. Operations are scheduled to commence the week of 17 November 2025. This move represents a key step in assessing both helium and natural hydrogen potential within the Rudyard subsurface system.

Targeting Hydrogen Source Rocks
The company will remove the existing production tubing and drill to total depth, coring an additional 30–40 feet of ultramafic rock. These rocks are critical because they support natural hydrogen generation through geological processes. Previous geochemical studies, announced in October 2025, confirmed a ³He/⁴He ratio of 0.74 Rₐ—approximately 9% mantle helium—one of the highest recorded in the continental U.S. outside Yellowstone.

Hydrogen and Helium Potential
Rudyard’s combination of altered ultramafic lithologies, mantle helium presence, and active fluid pathways positions the project as one of North America’s most promising natural hydrogen prospects. Natural hydrogen is an emission-free energy source generated by reactions between water and ultramafic rock, offering a sustainable alternative to fossil-fuel-based synthetic hydrogen.

Integration with Helium Production
Following coring, Helix plans to perforate the entire Souris River zone, preparing the well for helium production. The extracted helium will supply the Company’s new PSA/membrane processing plant in Rudyard, supporting near-term revenue generation while pioneering exploration of natural hydrogen.

CEO Commentary on Strategic Milestone
Bo Sears, Chief Executive Officer of Helix Exploration, stated:
“Coring the ultramafic interval in the Inez #1 well represents a defining moment for Helix. Laboratory analyses indicate these rocks are capable of generating hydrogen, potentially active over long geological timescales. To my knowledge, no better rock has been encountered in the U.S. for geological hydrogen exploration. These core samples offer a rare opportunity to study a live hydrogen-forming system in place. Alongside helium production, this dual-resource approach positions Rudyard at the forefront of clean energy exploration.”

Share Performance of HEX

HEX was trading at AUD 27.50 per share as of 13 November 2025 at the time of writing.