Mendell Helium and Ritchie Exploration to Recomplete Schneweis Well in Kansas
Mendell Helium plc has partnered with Ritchie Exploration to recomplete the Schneweis well in Kansas, utilizing a de-watering technique proven effective at the Rost 1-26 well. M3 Helium Corporation will fund the recompletion and a new disposal well, earning an initial 85% net profit interest, decreasing to 70% after investment recoup. The well previously produced over 300 Mcf/day and has potential for increased output, with drill stem tests exceeding 10,000 Mcf/day. The option to acquire M3 Helium has been extended to April 30, 2026.
Mendell Helium plc, via M3 Helium Corporation, has agreed with Ritchie Exploration to recomplete the Schneweis well in Kansas, aiming to use a de-watering technique similar to that of the Rost 1-26 well. Historically, Schneweis produced over 300 Mcf/day.
AI-curated by TheiaM3 Helium will finance the recompletion and a new disposal well, securing an initial 85% net profit interest, which reduces to 70% post-investment recovery, with Ritchie potentially acquiring a 50% interest. The well is connected to a pipeline, facilitating the sale of helium (1.39% composition) and hydrocarbons (70.06% methane).
The option to acquire M3 Helium has been extended to April 30, 2026. Work is expected to begin in May 2026.
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