- Global Helium (HECO) has signed an agreement to increase its landholdings in a proven helium-producing region of Southeast Alberta
- The company has added 17 contiguous sections (44 sq. km.) to a total of 49 sections (127 sq. km.) in the Manyberries helium trend, a mature natural gas field, increasing its land position by more than 50 per cent
- The team has geologically mapped the subsurface trends in Manyberries, which provided evidence of what is believed to be a vast collection of helium gas
- Global Helium (HECO) is up 6.25 per cent, trading at C$0.42 at 09:35 am ET
Global Helium (HECO) has signed an agreement to increase its landholdings in a proven helium-producing region of Southeast Alberta.
The company has added 17 contiguous sections (44 sq. km.) to a total of 49 sections (127 sq. km.) in the Manyberries helium trend, a mature natural gas field, increasing its land position by more than 50 per cent.
The company also agreed on a 576 section (1,492 sq. km.) joint venture with Perpetual Energy Inc. in Southeastern Alberta along the Manyberries helium trend, anticipating drilling at least two helium wells by the end of 2023 to earn the land.
Jesse Griffith, President of Global Helium stated that building on their technical reputation and utilizing industry relationships, the company sought to partner with Perpetual’s veteran management team on this helium opportunity.
“Combining our helium and industry knowledge with Perpetual’s 20+ years of natural gas development experience, we look forward to successfully developing this top-tier asset in this exciting helium region.”
The team has geologically mapped the subsurface trends in Manyberries, which provided evidence of what is believed to be a vast collection of helium gas.
Analysis of public data shows the Manyberries helium trend is one of North America’s most prolific helium-producing regions, with multiple high-rate producing wells containing helium concentrations over 1.5 per cent.
Global Helium, one of Canada’s largest helium exploration and development companies, focused on the exploration, acquisition, development, and production of helium.
Global Helium (HECO) is up 6.25 per cent, trading at C$0.42 at 09:35 am ET.
