Helix Exploration (AIM: HEX, OTCQB: HEXFF) has completed its first physical helium sale, marking the company’s transition into a revenue-generating producer just over 24 months after its IPO.
The company said its first high-pressure jumbo tube trailer has departed the Rudyard facility in Montana carrying approximately 160 Mcf of compressed high-grade helium.
The shipment follows a period of well optimisation and forms part of the short-term spot sales arrangement announced in May with an industrial gases customer.
Helix said its own tube trailer is now beginning regular transit to the customer, while the customer has also supplied trailer capacity to site to support continuous-cycle filling and uninterrupted supply.
The company has also leased a second tube trailer, which will be added to the filling rotation to support further deliveries.
Helix said the first shipments mark the start of regular commercial operations at Rudyard and the company’s first realised revenue from helium production.
The industrial gases customer has committed to purchase all currently available helium production from the existing three producing wells under the initial spot arrangement, which runs until late August 2026.
Discussions are ongoing regarding longer-term offtake agreements as production capacity expands.
The company said its acquisition of the Keyes liquid helium complex has strengthened its offtake options, giving Helix the ability to pursue either gaseous or liquid helium sales.
Each of the wells on the pipeline system is operating under high pressure, while additional wells have been surveyed and are awaiting approval from the Montana Board of Oil and Gas.
Re-entry work at the Inez-1 well has been delayed by extreme rainfall and poor ground conditions, although Helix said costs remain within budget.
Subject to successful retrieval operations, Inez-1 is expected to be placed on production from the Souris River interval and could become the company’s fourth production well at Rudyard.
Chief executive Bo Sears said the departure of the first full helium trailer represented a significant milestone and reflected the company’s progress from exploration through development, commissioning and commercial sales in just over two years.
He added that helium market conditions remain highly favourable, with constrained global supply and strong demand from sectors including semiconductors, healthcare, aerospace, fibre optics, scientific research and defence.
