Altura's recompleted wells show strong flow rates

Executive Summary

• Altura Energy successfully recompleted two helium wells, achieving initial flow rates of 123 MCF/day and 118 MCF/day with helium concentrations between 5% and 8%.
• Field diagnostics revealed degraded pipeline infrastructure causing reduced gas delivery, prompting a temporary shut-in of all wells and the initiation of an eight-week pipeline replacement program.
• The company plans to return three wells to production post-upgrade, with two additional wells scheduled for recompletion/workover, alongside comprehensive SCADA telemetry and GIS mapping integration for enhanced field monitoring.

Key Details

• Well Recompletion Results: Two wells recompleted with initial flow rates of 123 MCF/day and 118 MCF/day.
• Helium Concentration: High-grade helium concentrations estimated between 5% and 8%.
• Infrastructure Issue: Evaluation of legacy pipeline infrastructure identified degraded sections of exposed surface piping, resulting in lower-than-expected gas volumes reaching the processing facility.
• Immediate Action: All wells temporarily shut-in to initiate a pipeline replacement program aimed at improving long-term reliability and operational monitoring.
• Pipeline Replacement: New pipeline sourced and delivered to site; master service agreement executed with contractor for installation.
• Construction Timeline: Work expected to begin upon permit receipt and will take approximately eight weeks to complete.
• SCADA Integration: Valve and pressure monitoring will be integrated into the SCADA telemetry system across all producing wells, enabling real-time monitoring of pressure, flow rates, and equipment performance from a centralized interface.
• System Enhancements: Installation of isolation valves along the pipeline system to facilitate efficient diagnostics, maintenance, and repairs.
• GIS Mapping: Implementation of a geographic information system to provide accurate, up-to-date data on pipeline routing and field infrastructure.
• Production Restart: Three wells intended to return to production immediately following pipeline installation completion.
• Multi-Well Development: Two additional wells scheduled for recompletion and workover operations; upcoming program includes installing production tubing in select wells, workover operations on up to three additional wells, connecting all producing wells to SCADA, and potential well logging to evaluate additional helium reservoir potential.
• Market Context: Geopolitical disruptions in Qatar (a major global helium producer) have highlighted vulnerabilities in helium supply chains, underscoring the strategic importance of developing diversified, geopolitically secure North American helium sources for medical, semiconductor, aerospace, and advanced technology sectors.
• Conference Participation: CEO Ashley Lastinger will present at the Kinvestor Mining & Energy 2026 Virtual Investor Conference on March 26, 2026.

Notable Quotes

• "Through the operational improvements we are implementing across the field, we are focused on building a reliable production platform capable of supporting consistent helium delivery to the market." – Ashley Lastinger, CEO, Altura Energy Corp.