RHC Gears Up for Exploration at 40 Mile Helium is an essential element used across various industries, including welding, diving, aerospace, nuclear power, and electronics manufacturing. Despite its critical role, the production of helium faces significant challenges due to its limited availability and depleting reservoirs. Historically, the United States was a major producer, but its reserves have dwindled, creating a supply shortage.
Source:
https://www.azcentral.com/story/news/local/arizona-investigations/2024/05/14/what-is-helium-and-why-is-it-critical-to-have-enough-of-the-gas/73621159007/
Royal Helium Ltd. (Ticker: RHC.v or RHCCF for US investors), a Canadian company focused on helium production, infrastructure, and exploration, is addressing these supply challenges head-on. With a broad portfolio of potential helium permits and leases in southern Saskatchewan and southeastern Alberta, Royal Helium aims to become a leading producer of this indispensable non-renewable resource in North America.
Since beginning operations in November 2023, Royal Helium's Steveville helium purification plant has completed its 12th and 13th trailer sales. CEO Andrew Davidson highlighted the plant's stable production, automation capabilities, and self-powering design, which together ensure positive cash flow with minimal expenses.
The facility processes 15,000 mcf/day of raw gas from two wells, producing 22,000 mcf of 99.999% pure helium annually. Additionally, the plant benefits from Alberta's carbon credits and has a projected 25-year lifespan, also producing commercial carbon dioxide. Royal Helium has contracted Progress Through Technology (PTT) to optimize production further.
Expanding its operations, Royal Helium has licensed and permitted the Forty Mile #1 exploratory helium well at the Forty Mile project in southeastern Alberta. This project spans 7,000 acres, acquired through a seismic review option agreement with an independent private vendor, and includes a historic well that has shown promising results. The initial well's results are comparable to the best Cambrian helium discovery wells in Alberta, Saskatchewan, and Montana.
Royal Helium has completed seismic work at Forty Mile and identified multiple drill targets across various prospective horizons. The primary target horizons for the Forty Mile #1 well are Devonian and Cambrian, drilled into the Precambrian crystalline basement. The well will target multiple zones, and if successful, the company plans to fully develop the Forty Mile project based on the identified drill targets.
Royal Helium Ltd. continues to advance in the helium industry, leveraging its strategic locations, advanced facilities, and robust exploration projects to meet the increasing global demand for this vital resource.
Full news here:
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https://www.gasworld.com/story/royal-helium-grows-sales-from-steveville-helium-plant/2140513.article/
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https://royalheliumltd.com/2024/05/royal-helium-licensing-high-impact-helium-well-at-forty-mile-southern-alberta/
Posted on behalf of Royal Helium Ltd.