Helix Exploration has agreed its first contracted route to market for helium from the Rudyard project in northern Montana, marking the company’s commercial debut three months after production began on 23 February.
The short-term spot arrangement is with an unnamed industrial gases group, which has committed to take 100% of Rudyard’s deliverable volumes for an initial three months.
Both sides expect to extend it given current market conditions. Initial deliveries are running at roughly 30 to 40 Mcf per day from three producing wells, with further wells available to ramp up as the deal scales.
While terms are confidential, the board confirmed pricing is at prevailing spot rates for Grade A helium and “substantially in excess” of the assumptions baked into its pre-IPO model.
Bo Sears, Chief Executive Officer of Helix Exploration, commented: “This is a defining moment for Helix as a company. From first gas at Rudyard in February 2026 to a contracted offtake arrangement with a leading industrial gas company in May 2026, the Company has transitioned from an explorer to a revenue generating business in just over 2 years since its IPO.”
The CEO continued to explained why they hadn’t released pricing information at this stage.
“I appreciate that some shareholders will want to see pricing disclosed, however the terms agreed are commercially attractive and, in the Board’s view, represent a positive outcome for the Company,” Sears said.
“The pricing is at prevailing spot market rates, and it is substantially higher than the price assumptions used in our pre-IPO model, a model that was itself built on conservative estimates. I can confirm to shareholders that the Arrangement represents a strong commercial opportunity, and we look forward to updating the market on its financial contribution in due course.
“The global helium market is tight. Supply from traditional sources remains constrained. Helix has built a producing asset in the Montana Helium Fairway and is entering production at a favourable point in the market cycle. We are now producing, selling, and being paid at rates that exceed our own expectations. This is just the beginning of an exciting new chapter.”