Pulsar Helium Advances Topaz Project with Jetstream #5 Completion and Jetstream #6 Mobilization
Event summary
- Pulsar Helium completed drilling Jetstream #5 at the Topaz Project in Minnesota, reaching a total depth of 3,839 feet with the highest recorded bottom-hole pressure of ~1,292 psi.
- Drilling of Jetstream #6 commenced on January 27, 2026, with a designed total depth of 3,000 feet, potentially deepening to 5,000 feet.
- Flow testing and pressure build-up program for Jetstream #3 and #4 is anticipated to start in late February 2026.
- The Topaz Project is a primary helium discovery containing helium-4, helium-3, and CO2, with multiple wells confirming a helium-rich gas reservoir.
The big picture
Pulsar Helium's progress at the Topaz Project underscores its position as a first mover in helium exploration in Minnesota. The high-pressure readings and extensive helium-rich gas reservoir indicate a high-quality resource, which could significantly impact the company's development plans and future helium production capabilities. The ongoing appraisal program is crucial for mapping the reservoir’s extent and informing resource estimation, potentially positioning Pulsar as a key player in the helium market.
What we're watching
- Resource Estimation
- How the results from Jetstream #5 and upcoming flow testing will impact the next iteration of the resource estimate for the Topaz Project.
- Execution Risk
- Whether Pulsar can successfully retrieve or bypass the stuck drill string in Jetstream #5 and complete the full logging and flow testing by April 2026.
- Project Expansion
- The pace at which Pulsar can expand the Topaz resource through the drilling of Jetstream #6 and other appraisal wells.
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