Helix Exploration PLC (AIM: HEX) has resolved a minor technical issue involving the Variable Speed Drive at its Rudyard project, clearing the way for the start of helium production.
The company said it expects to provide a further update on this key production milestone during the week beginning February 16, 2026. Helix also plans to host prospective offtake partners on site as it seeks to secure favourable commercial terms.
The development puts Helix on track to become Montana’s first helium producer. The Rudyard project is forecast to generate net revenues of between $115 million and $220 million over its estimated 12.5-year operating life.
Bo Sears, Chief Executive Officer of Helix Exploration, commented:
“Our team has worked tirelessly, and thanks to their dedication and expertise, we are now closer than ever to achieving a significant milestone – becoming the first helium producer in the state of the Montana.
“The Board remains confident in the tremendous potential of the Rudyard project and is excited to take this important step towards production, creating value for our shareholders while contributing to the global helium market.”
Notes to Editors
Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the ‘Montana Helium Fairway’. Founded by industry experts with extensive experience of helium systems in the US, the Company listed in April 2024.
Helix is focused on production at its Rudyard Project in northern Montana, taking advantage of existing infrastructure and low-cost processing to target first gas in Q1 2026. The Company has four production wells targeting up to 236ft Helium / Nitrogen gas in the Souris and Red River formations, flowing up to 3,800 Mcf/day at 1.2% helium. Rudyard field can support multiple production wells and has potential to generate net revenue of $115 – $220 million over a 12.5 year life of field.
Helix is committed to open and transparent communication with investors and the wider market as the project progresses through development into production.
“Our approach is simple: build scale efficiently, develop resources strategically, and deliver near-term cash flow.” CEO – Bo Sears
The Company’s Admission Document, and other information required pursuant to AIM Rule 26, is available on the Company’s website at https://www.helixexploration.com/.
