Helix Exploration takes tangible step towards production as US helium supply squeeze continues Proactive uses images sourced from Shutterstock
HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has secured its first helium transport trailer, a practical step toward commercial production at its Rudyard project in Montana as disruption in Qatar squeezes global supply.
The AIM-listed group told investors it has signed a lease for a ten-cylinder jumbo tube trailer with capacity to carry 156,300 standard cubic feet of compressed helium at a working pressure of 2,669 PSI.
Helix noted the asset gives it dedicated transport capability and marks the start of a wider fleet build-out as production volumes increase.
Chief executive Bo Sears described it as a “tangible step” toward commercial production and argued Rudyard offers the market a domestic US helium source insulated from LNG-linked supply shocks and geopolitical shipping risks.
“We are building out the transport infrastructure necessary to deliver helium to customers, and this is the first of several trailers we expect to add to our fleet in the near term,” Sears said.
“The timing could not be more critical. The global helium market is facing what may be its most severe supply disruption in history. With all Qatari production offline and the Strait of Hormuz closed, approximately one-third of global helium supply has been removed from the market virtually overnight. Spot prices have spiked and major technology companies are already warning of potential impacts on semiconductor production.”
Helix highlighted that it is now moving with urgency to deliver security of supply to American industry.
Sears added: “Rudyard represents exactly what the market needs – a dedicated, domestic US helium source that is not reliant on LNG processing or exposed to geopolitical shipping risks.”