MIDLAND, Texas, July 13, 2023 (GLOBE NEWSWIRE) -- New Era Helium Corp. (“New Era Helium” or the “Company”), is an exploration and gas production company focused on Helium. New Era Helium’s current operations, which are already producing Helium is situated within the prolific Permian Basin in Southeast New Mexico. The Permian Basin has provided a significant portion of energy to the US over the past several decades. The Permian Basin is among the most important energy-producing regions in the world as it accounts for nearly 40 percent of all oil production in the United States and nearly 15 percent of our nation’s natural gas production. The Permian Basin contributes roughly $153 billion to the economy each year and provides jobs to nearly 700,000 working Americans. Even more relevant to New Era Helium is that this geographic region continues to reinvent itself by now listing helium as one of its many relevant products it provides to the world.
New Era Helium owns and operates over 137,000 acres in Southeastern New Mexico and has over 2.5 Billion Cubic Feet (bcf)of proved, probable, and possible helium reserves per its 3rd party SEC reserve report dated 1/1/23. Helium is a rare and vital element in many fields including medical and manufacturing technology, scientific research, space exploration, and national defence. Helium is a key component in many critical applications such as airbag deployment in cars and used in producing chips for electronics to operating MRI machines.
The Company is fortunate to have a set amount of reserves that will more accurately reflect the potential cash flow over the next several decades. Given these reserves and the fact that the Company is already in production, New Era Helium is gearing up to build a new state-of-the-art facility that will process up to 20,000 cubic feet per day (mcfpd) of inlet gas producing in excess of 32,000 Million Cubic Feet of helium per year, representing approximately 1% of the North American helium market. The company seeks to become a major consolidator of existing helium production as the diversified revenue outside of helium such as methane and natural gas liquids (NGLS), will serve as the foundation for such efforts. In addition to its helium, New Era Helium will seek to participate in the energy transition with the intent of providing its natural gas production as feedstock for energy transition sources such as net zero power, blue hydrogen, or blue ammonia. Furthermore, the company will seek to designate all of its natural gas production as Responsibly Sourced Gas “RSG” in order to create Methane Performance Certificates which can be likened to carbon credits.
Will Gray, CEO of New Era Helium stated; “We are extremely excited to introduce our recently incorporated company focused on our existing helium production. We are even more enthusiastic about the fact we are in the Permian Basin and part of a region that keeps reinventing itself by producing important rare earth elements needed for the advancement of the world’s technologies.” Mr. Gray continued; “When people think of the Permian Basin they think oil and gas, yet the region is beginning to embrace how best to use fossil fuels and how they are best utilized as part of the energy transition. Both public and private oil and gas companies operating in the Permian Basin are making significant investments within the energy transition space and New Era Helium is uniquely positioned to make an impact on how helium, associated with natural gas, is produced but more importantly utilized. 95% of the world’s helium is produced in association with natural gas so the opportunity to participate in helium prices that can exceed $600 per Mcf due to a current helium shortage is quite advantageous for those with existing proven helium reserves. While other small to mid-cap helium producers tend to ignore helium associated with natural gas, we feel this plays to our strength due to our knowledge on how to produce and utilize natural gas as a feedstock for various carbon free energy sources. With helium prices currently at an all-time high, now is the time to aggregate and produce this precious gas.”
For more information please contact:
CEO
Will Gray
will@newerahelium.com
Investor Relations - US
Jody Kane
Jody.Kane@Harbor-Access.com
About New Era Helium Inc
New Era Helium Corp is an exploration and production company that sources helium produced in association with the production of natural gas reserves in North America. The company currently owns and operates over 137,000 acres in Southeast New Mexico and has over 2.5 BCF of proved, probable, and possible helium reserves.
