Helix Exploration Hits First Production — Montana’s First Helium Producer Is Now Live
Helix Exploration PLC has officially crossed the line from explorer to producer.
The company announced first helium gas production at its flagship Rudyard Project, making it the first helium producer in the state of Montana — a milestone not just for the company, but for the region’s emerging “Montana Helium Fairway”.
Three wells — Linda, Weil and Darwin — are now tied into the gathering system and feeding gas into the on-site PSA processing plant. The Inez well is expected to be added once current testing work is completed.
For investors, this marks a critical inflection point. Helix has moved from resource delineation and development into revenue generation in just over 21 months since IPO — an unusually rapid timeline in the upstream energy space.
Why This Matters
Helium is increasingly strategic. It’s essential for semiconductors, MRI machines, space applications and advanced manufacturing. Supply remains tight globally, with recurring shortages over the past decade. Bringing new domestic production online — particularly in the US — is significant.
Helix is now positioned to capitalise on that demand.
With production underway, management is moving quickly to formalise offtake agreements. The company plans to host potential buyers on site in the coming weeks, aiming to secure a mix of short- and long-term contracts to optimise pricing and revenue visibility.
Scaling Phase Begins
Production will ramp gradually as the team optimises operations around the PSA plant. The focus now shifts from proving geology to maximising throughput and commercial returns.
Inez Well Update
During re-entry operations at the Inez well, drilling crews encountered a drill string separation — a common technical issue in drilling operations that requires retrieval of equipment from the wellbore.
Importantly, Helix confirmed there is no impact on helium reserves or hydrogen potential at the site. Management is prioritising production and commercial agreements before revisiting further testing at Inez.
The hydrogen angle remains a potential longer-term value driver, with discussions ongoing with interested parties.
The Bigger Picture
First production is often the hardest milestone to reach for junior energy companies. It de-risks the asset, validates the development model and materially strengthens negotiating power with customers and financiers.
Helix now enters its next chapter — scaling output, locking in offtake, and proving the economic case for sustained production in Montana.
For shareholders, the key watchpoints from here:
-
Speed of production ramp-up
-
Terms and pricing of offtake agreements
-
Progress at Inez and potential hydrogen upside
From IPO to production in under two years — execution has been decisive so far. Now the market will focus on cash flow delivery.
