Elixir Energy (ASX:EXR) signed a rig contract with Helmerich & Payne for the use of the FlexRig3 MM 648 for the drilling of Lorelle-3 appraisal well within the Taroom Trough in Queensland, according to a Friday filing with the Australian bourse.
The project's civils, site preparation, and well pad construction are 30% complete and all long-lead items have been secured, the filing said.
The rig is set to start mobilization to the well site on Jan. 12, 2026, according to the filing.