Helix Exploration (AIM:HEX), the AIM and OTCQB-listed US helium production and liquefaction company, said its Rudyard facility in Montana has moved into continuous trailer filling and that helium is now being tolled for revenue through the Keyes Helium Complex in Oklahoma.
Rudyard began commercial operations in July with its first jumbo tube trailer filling, and Helix now rotates a mix of customer-supplied and leased trailers to keep supply uninterrupted, with a second trailer departing as another arrived for filling.
All wells on the pipeline system are operating under high pressure, with additional wells awaiting approval from the Montana Board of Oil and Gas.
At Keyes, acquired in mid-July, Helix's operations team is overseeing the site and filling trailers weekly under an ongoing tolling programme, with capacity for full tolling of the company's own future well output, third-party supply and crude helium drawn from the former US Bureau of Land Management reserve.
Keyes is one of only six operational helium liquefaction facilities in the United States.
"Rudyard has now moved into a continuous filling cycle, underpinning Helix's transition into a revenue generating producer and processor of helium from two revenue centres in Montana and Oklahoma," said chief executive Bo Sears.
He added that owning reserves, producing wells, drilling equipment and liquefaction infrastructure together is "a combination that few independents have ever held, at a time when supply is becoming increasingly constrained."
Helix said it intends to provide a further update on field development in Montana in the near future.
News Intelligence what this means for the company
Helix Exploration has moved its Montana helium production into continuous trailer filling and begun tolling helium for revenue through its newly acquired Oklahoma liquefaction plant at Keyes. This marks the transition from pilot to sustained commercial output across two revenue centres—Rudyard (production) and Keyes (processing)—following the company's first helium sales from Rudyard in July and completion of the Keyes acquisition in the same month. The company now operates one of only six US helium liquefaction facilities, positioning it to capture both production and processing margins.
Helix has moved from exploration-stage pre-revenue to dual revenue streams (production and tolling) within weeks, backed by the £17.6m equity raise that funded the Keyes acquisition. The shift to continuous filling and weekly tolling output demonstrates operational execution, though the company remains dependent on regulatory approvals for additional Montana wells and on market demand for helium tolling services.
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