Helium One Global Ltd (AIM: HE1) has provided an update on progress at its Galactica Project, with the operator confirming that integrated operations at the Pinon Canyon Plant are scheduled to begin next week. The amine unit, which will remove CO₂ from the gas stream, is also expected to be operational.
The company said additional CO₂ liquefaction and loading components are planned to be installed during the first half of 2026. Sales arrangements have already been put in place for spot helium, while discussions around longer-term supply contracts are progressing positively.
Tie-in work for the State-9 and State-16 wells has been completed, and expansion of the gathering system to connect the Jackson-2 well is currently underway.
Helium One expects these developments to support a production ramp-up through 2026, with the goal of increasing helium output and generating growing revenues.
Operator Reported Highlights
· Pinon Canyon Plant scheduled for integrated plant operations next week
· The amine unit will be operational removing CO2 from the input gas stream
· CO2 liquefaction and load components projected to be added H1 2026
· Sales arrangements have been made for spot sales of helium, and discussions regarding long-term contracts with both helium and CO2 off-takers progressing well
· Tie-ins for the State-9 and State-16 wells into the gathering system now complete and ready to be tied into the production facility
· Further expansion and construction of the gathering system for the Jackson-2 well is underway, including the T-section for future connection of Jackson-27
Commercial Progress by The Operator
The Operator is implementing a strategy that anticipates meeting market needs and maximises the value of the end product.
Arrangements have been made for spot sales of helium and discussions in respect of long-term contracts with both helium and CO2 off-takers are progressing.
These discussions are targeting a mix of short-term sales arrangements and long-term offtake agreements to match the targeted ramp-up of the Pinon Canyon Plant’s capacity.
For further information please visit the Company’s website: www.helium-one.com
