Highland Natural Resources said drilling has been completed on its Helios well in Montana.
The company began work earlier this month at the natural gas and helium prospect which has targeted the Muddy Formation.
The first well at Helios Two has been completed safely and on-schedule with encouraging initial data.
Highland Natural Resources is now preparing surface facilities for commencement of the de-watering process to test the formation for natural gas and helium.
Highlands chief executive Robert Price said: “I am very proud of the Highlands team for mobilising and completing the first Helios Two well in a very short period of time.
“Our team is pleased by initial data coming out of the Muddy Formation, and we look forward to commencing the de-watering process to test this potential natural gas and helium resource.
“We are also intrigued by the results of our air-drilling effort in the Eagle Formation, and believe this warrants further evaluation through a second vertical well with a completion tailor-made to protect the clay-rich formation.
“We look forward to providing further updates to the market as appropriate.”
