The US Department of Energy formally designated helium as a critical material under the Energy Act of 2020 on 23 October, a decision Helix Exploration (AIM:HEX) says reinforces the strategic case for its integrated American helium business.
Helix, the AIM-listed helium producer and liquefier, operates the Rudyard project in Montana, described as the first helium production in the state, alongside the Keyes Helium Complex in Oklahoma, one of only six operational helium liquefaction facilities in the United States.
The DOE's designation reflects helium's role in semiconductor manufacturing and other advanced technologies, and flags concerns over global supply availability and the resilience of domestic supply chains.
The department also acknowledged that refining capacity and lengthy permitting processes continue to constrain US domestic production.
Helix began production at Rudyard in February and completed its first commercial sales there in July.
The company acquired the Keyes Helium Complex in July, giving it ownership of liquefaction infrastructure that can process both Rudyard output and third-party feedstock.
"Having transitioned from exploration into commercial production at Rudyard in just two years since IPO, and with our ownership of the Keyes Helium Complex providing access to one of only six operational helium liquefaction facilities in the United States, we have established an integrated platform across the helium value chain," said Bo Sears, chief executive of Helix Exploration.
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He added that the federal recognition "reinforces the long-term strategic value of our assets and our ambition to establish Helix as a significant integrated supplier of helium to US and global markets."
Helix is progressing a drilling and processing capacity expansion at Rudyard, supported by its own drilling rig.
The Ollie #1 and Ross #1 wells have both been spudded at the project's Northern Dome in recent weeks, part of the company's push to add production alongside its existing Darwin #1, Linda #1 and Weil #1 wells.