Mendell Helium (LSE:MDH), the helium explorer and developer, said M3 Helium has signed two further leases for land in Fort Dodge, Kansas that it considers prospective for helium production.
The Durler and Leffert leases sit close to M3 Helium's existing Bleumer and Enlow leases, roughly four miles from the Rost 1-26 and Rost 2-26 well sites, and were secured for a modest cash consideration, the company said.
Mendell says each of the Durler and Leffert leases could potentially accommodate two production wells and that the additions align with the strategy set out alongside its 30 April fundraising to accelerate Fort Dodge development.
The Rost 1-26 well has been tested at a 5.1% helium composition with a drill stem test yielding a maximum flow of approximately 2,900 Mcf per day, production commenced in early November 2025 and the most recently recorded flow in December 2025 was 250 Mcf per day, equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium holds additional leases capable of supporting a further four production wells and has a joint venture with Ritchie Exploration to recomplete the Schneweis Ventures 13 well which had a drill stem test of over 10,000 Mcf per day and a historic flow of 300 Mcf per day.
At the Rost wells M3 Helium treats raw gas on site to concentrate helium and has leased tube trailers for deliveries to its offtaker.
M3 Helium also has interests in five producing wells in the Hugoton gas field that are tied into a nearby gathering network and the Jayhawk gas processing plant.
Completion of Mendell Helium's acquisition of M3 Helium is expected to take place on 18 May.
