Helix Exploration PLC (AIM: HEX) has reported continued strong progress toward first helium production at its flagship Rudyard Project in Montana, reinforcing management’s confidence in becoming the state’s first helium producer.
The company confirmed that the PSA compressor — the final long-lead item required for production — has now been fully assembled and is en route to site for imminent installation and commissioning. Helix said discussions with potential offtake partners across the helium industry are progressing well and are expected to conclude once first gas is achieved.
Helix has also expanded its position at Rudyard through the acquisition of an additional 1,363 acres, further strengthening the project’s long-term potential. In parallel, the company has entered early-stage discussions with Tier-1 counterparties regarding possible collaboration opportunities in hydrogen.
Operationally, activity at the Inez#1 well has been temporarily paused due to severe winter weather conditions, with operations set to resume when conditions improve.
Management reiterated its confidence in delivering first production and maintaining the momentum established since the company’s IPO, as Helix advances toward its next key milestone.
Bo Sears, CEO of Helix Exploration, commented: “We are excited to soon become the first helium producer in the State of Montana & the opportunities that production will present for the Company. The team remain laser focused on maintaining the momentum built up since the IPO and I look forward to updating the market on the anticipated production milestone.”
