24/7 Space News
TECH SPACE
North American Helium brings 6th facility online
North American Helium file image
ADVERTISEMENT
North American Helium brings 6th facility online
by Staff Writers
Calgary, Canada (SPX) May 05, 2023

North American Helium Inc. has reported on a number of updates to the continuing growth of its business. These updates highlight NAH's ongoing operational execution and financial performance as it builds out and develops its significant land position.

During April 2023 NAH completed construction of, and successfully brought onstream, its sixth helium purification facility near Mankota, Saskatchewan.

The new facility was constructed adjacent to the Company's current plant at Mankota, doubling this area's total productive capacity to over 50 million cubic feet per year.

NAH recently completed two new multi-year sales contracts and has successfully renegotiated several price reopeners on current contracts, at prices that better reflect the current market.

To help customers meet critical business requirements during the current global helium shortage, NAH continues to retain uncontracted helium volumes for the spot market as either high-purity gas or liquid. Due to announced maintenance outages at major helium facilities this year, the helium supply deficit is expected to worsen in the near term and the Company continues to work to ensure supply is available for critical end-users.

Further information about spot load sales, use of ISO containers, or marketing related logistics may be obtained on the NAH website HERE or by contacting Brad Neuls, Manager, Marketing and Logistics: [email protected].

The Company also announced that it has recently contracted a second drilling rig to accelerate growth in its business. The expanded 2023 drilling program is a mix of exploration and development targets across a range of established, emerging and proof-of-concept geologic targets on its vast acreage position.

Commenting on the Company's continued operational successes, Marlon McDougall, President and COO stated, "Bringing on three new helium purification facilities in different regions of southwest Saskatchewan over the span of the last five months is an incredible achievement. Just as important, we accomplished this with zero lost time incidents in the field. Safety for our employees and contractors continues to be a top priority at NAH. The Company now has six helium production facilities online, and I would like to thank our field construction and operations teams for the achievement of this milestone."

Mr. McDougall continued: "Including volumes from this latest facility, current helium production is in excess of 130 million cubic feet per year, representing approximately 5% of total helium supply in North America. This does not include another plant we plan to bring online in Q4 of this year. With the addition of the second rig to our drilling program, we expect to drill approximately 30 wells this year to support additional growth in 2024."

The Company's current CFO, Neil Burrows, will be retiring and transitioning out of the CFO position effective November 1, 2023. Neil will also stay on in an advisory role for an additional six months before retiring in May of 2024. Brad Borggard, current VP of Business Development and Investor Relations, will be assuming the CFO role.

"On behalf of the Board and Company, I would like to thank Neil for his contributions to our business over the last six years. Even though we are a private company, we endeavor to run our business to the reporting standards of a public entity and Neil has been responsible for building out those systems and controls over the years. He has prudently managed the finances of the Company during a time of tremendous growth and leaves us well positioned for the future," said Chairman and CEO, Nicholas Snyder.

Mr. McDougall added, "Brad Borggard joined us in 2022 with over 20 years of experience in the Canadian resource industry, having focused in the areas of finance, corporate planning, business development and investor relations. Producing helium as a pure-play from non-hydrocarbon sources is a new way of doing things. Brad has immersed himself in the nuances of the business and was instrumental in putting our credit facility in place earlier this year. We look forward to his continued contributions as we grow the Company."

Related Links
North American Helium
Space Technology News - Applications and Research

Subscribe Free To Our Daily Newsletters

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TECH SPACE
Speedy composite manufacturing
Oak Ridge TN (SPX) May 04, 2023
An Oak Ridge National Laboratory-developed advanced manufacturing technology, AMCM, was recently licensed by Orbital Composites and enables the rapid production of composite-based components, which could accelerate the decarbonization of vehicles, airplanes and drones. Additive manufacturing compression molding, or AMCM, uses short-fiber-filled polymer and continuous fiber to print directly onto a mold with precise orientation to make parts such as propeller blades or battery boxes. Compress ... read more

ADVERTISEMENT
ADVERTISEMENT
TECH SPACE
Prep in the pool for Europe's next astronauts

Cosmonauts transfer airlock between ISS modules

NASA selects Emily Nelson as Chief Flight Director

Join the webinar on Accessibility in Human Spaceflight

TECH SPACE
Falcon Heavy launches massive GEO satellite for Viasat

SpaceX launches first expendable Falcon Heavy rocket

Conservation groups sue US regulator over SpaceX launches

A second pair of SES' O3b mPower satellites launched on a SpaceX rocket

TECH SPACE
Aerovironment awarded $10M JPL to co-design and develop two helicopters for Mars Sample Return mission

Brushing Ubajnara: Sols 3819-3820

Examining a Potential Drill Spot: Sols 3817-3818

Alberta researcher to help select samples to bring back from Mars

TECH SPACE
Final frontier is no longer alien

China to promote space science progress on five themes

China to develop satellite constellation for deep space exploration

China's space missions break new ground

TECH SPACE
Airbus Eurostar Neo Arabsat BADR-8 telecoms satellite shipped to launch site

SpaceX lifts another 56 Starlink satellites into lower Earth orbit

ESA recruiting for key divisional directors

CGI to extend machine learning to LEO satellite network optimisation

TECH SPACE
Hong Kong's bamboo scaffolders preserve ancient technique

California's wet winter sparks a new gold rush

Atomic layer deposition creates advanced eco-friendly vehicle materials

USTC discovers long-range skin josephson supercurrent across a Van Der Waals ferromagnet

TECH SPACE
A stormy, active sun may have kickstarted life on Earth

Can ET detect us

Webb finds water vapor, but from a rocky planet or its star

Massive radio array to search for ET signals from other civilizations

TECH SPACE
New video series captures team working on NASA's Europa Clipper

Work continues to deploy Juice RIME antenna

Juice's first taste of science from space

Icy Moonquakes: Surface Shaking Could Trigger Landslides

Subscribe Free To Our Daily Newsletters


ADVERTISEMENT



The content herein, unless otherwise known to be public domain, are Copyright 1995-2023 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.