Helium One Global shares rose on Monday after announcing that its Galactica production facility in Colorado is ready for commissioning, keeping the project on track for first gas production before year-end.
The gathering system has been successfully pressure-tested and connected to the production facility, and the facility has now reached substantial completion. Commissioning work is set to begin this week.
Helium One holds a 50% working interest in the Galactica-Pegasus helium development project in Colorado, alongside partner Blue Star Helium. The company also maintains helium exploration activities in Tanzania.
“I am pleased to announce that we are approaching the commencement of production at the Galactica project in partnership with Blue Star. This achievement marks a significant milestone for both the Joint Venture and our respective organisations,” said Lorna Blaisse, Chief Executive Officer.
“I would like to commend the commitment of the onsite teams, whose efforts have ensured we remain on track to deliver first gas before year-end. We very much look forward to entering the next phase as a producer.”
Helium One has also recently provided an encouraging update on its Tanzanian project, which, combined with today’s announcement, suggests that 2026 could be a very interesting year for the firm.