For some helium exploration and production companies, 2020 will be a defining year. “The next 12 months will be very exciting and this time next year we will have drilled, flowed gas and everyone will be wanting to talk to us, but there’s a lot of work for us to do in the meantime,” Neil Herbert, Executive Chairman at Helium One, told gasworld.
Helium One is hoping to be a major worldwide supplier of helium from its project in Tanzania, eastern Africa, and there are other companies aiming to begin drilling in North America next year too.
And in the helium exploration business, it is not until drilling starts that you get a better idea of how successful a project will be in producing helium. A company can claim to have exciting helium resources – how much of it is beneath ground – but the amount that can be profitably recovered – helium reserves – can turn out to be quite different. It also takes time to turn a helium exploration project into a commercial reality.
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