HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) told investors it has expanded its Rudyard helium project leasehold in northern Montana to nearly 8,000 acres, tightening its grip over the core of a proven helium-bearing structure as supply concerns ripple through the global market.
The AIM-listed group said it has acquired a further 360 acres of State of Montana mineral leases at public auction, taking its total position to about 7,927 acres.
Helix noted that the enlarged footprint covers the crest and primary flanks of the Rudyard Anticline, including all three producing wells - Darwin No. 1, Linda No. 1 and Weil No. 1 - as well as the confirmed helium-bearing reservoir interval.
"We have built a significant position over the central portion of the field," said chief executive Bo Sears.
The latest addition follows earlier lease build-up since the company’s original 5,564-acre farmout position in June 2024.
Helix said it has now added roughly 2,363 acres in total, a 43% expansion, through acquisitions, private mineral leasing and the latest State auction. It added that all flow-tested helium concentrations recorded from the field’s producing wells have ranged between 1.06% and 1.21%.
Helix also used the update to underline the strategic value of domestic US helium production after QatarEnergy declared force majeure on LNG supply contracts, which impacts supplies because most helium production in the US comes as a by-product of gas processing.
Bo Sears commented: "QatarEnergy's force majeure makes one thing unmistakably clear: when LNG shuts down, helium shuts down with it.
"A significant portion of global production has been impacted, and the market has no timeline for when, or whether, it comes back. Helix produces helium entirely on US soil, from our own wells, which will be delivered to domestic customers."