First Helium Inc. plans to drill two wells at its Worsley property in northern Alberta as it focuses on near-term cash flow opportunities.

The company intends to drill the two wells in succession to optimize drilling costs. It has also identified 10 more potential drilling sites to be evaluated based on the success of the first two.

First Helium’s operations in the Worsley Trend, where it holds more than 53,000 acres, include two wells targeting helium-enriched natural gas. The company is using cash flow from its oil wells to finance its plans to become a leading independent provider of helium gas.

Helium is used to produce semiconductor chips and operate magnetic resonance imaging equipment.

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