Global Helium Corp. announces that it is entering the U.S. market through acquisition
by CM Staff
This strategic acquisition is expected to be the first of several in the United States, as the Company pursues its goal of becoming a large helium producer.
CALGARY — Global Helium Corp., a Canadian helium exploration and development company, announces that, after months of technical and commercial evaluation, the Company has acquired a very large position in a known, helium-proven geological structure in Montana, known as “Pale Rider.” The acquisition, and subsequent tactical land leasing program, collectively include seventeen contiguous square miles on a known helium prospect, which has previously produced and tested 1.2% helium.
This strategic acquisition is expected to be the first of several in the United States, as the Company pursues its goal of becoming a large helium producers in North America, intending to provide helium gas and liquid to pre-existing downstream partners.
Global’s team had previously acquired and studied all existing seismic and technical data prior to making the Pale Rider acquisition. Given the existence of a previously drilled well that produced non-combustible gas with a significant helium concentration, the Company is confirming several target locations and is working to procure a surface lease with the intention of mobilizing a drill program thereafter.
Wes Siemens, President of Global Helium, states, “We are beyond excited about our initial entry into the United States and the multitude of opportunities that our team is evaluating to continue our aggressive expansion in North America. Months of technical work and negotiations have finally resulted in our first step into the United States on a structure with proven helium production. We have concurrently advanced our Saskatchewan areas to the drill ready stage, which is a testament to the strength and depth of both our asset base and the Global team.”