Rudyard
Helix acquired Rudyard directly from leaseholders in June 2024 for a consideration of only $250,000 paid mostly in shares. This transaction was made possible by the deep connections Helix management have developed over 20 years of operating in the Montana Helium Fairway. Darwin #1 drilled in Q4 2024 confirmed a commercial helium discovery at Rudyard.
Helix has three confirmed production wells on the project, having successfully tested Darwin #1, Linda #1 and Weil #1, all of which flowed high grade, commercial helium. The three production wells have the capacity to generate pre-tax cashflow of circa. $12 million per year in the first six months of production.
In July 2025, Helix drilled and cased a fourth well, Inez #1, and flow testing is scheduled to commence early August. To support this accelerated development, Helix completed a £4.5m fundraise in June 2025, ensuring the company is fully funded to drill two additional production wells on the license before year-end.
Construction of the on-site helium PSA processing plant is well underway – keeping the project firmly on track for first production in 2025.
The Rudyard Project
- Large: Co-joined domal anticlinal structure underpinned by the Great Falls Tectonic Zone, offering strong structural potential for helium accumulation.
- Thick: Extensive reservoir intervals confirmed, with Darwin #1 perforating 236 feet across the Souris and Red River formations.
- Discovery: High-grade helium confirmed across multiple wells, supporting robust early-stage cash flow potential.
- Reserves: Independent evaluation by Aeon Petroleum Consultants Corp. estimates significant recoverable helium volumes in the Northern Dome, with additional contingent resources identified in the Southern Dome.
Rudyard holds an estimated 635 million cubic feet of helium, combining independently assessed reserves and contingent resources across its northern and southern domes. Helix is targeting for production from our fully funded Rudyard Project in 2025.
Economic:
- NPV8 $78 – $146 million
- IRR >1000%
- Net Revenue $115 – $220 million over 12-14 year life of field
- Peak sustained post-tax cash-flow $16.5 – $28 million per year
- Low CAPEX: Takes advantage of existing infrastructure on site including three-phase power, road and rail transport connections.
- Processing Plant: Already acquired a high-performing Xebec PSA plant and equipment for $500,000, with a proven capacity of 48,000Mcf per year of high-grade helium
- Fully Funded: With undiscounted equity raise of £5m in Jan 2025 and further £4.5m in June 2025 to accelerate drilling.
| Well | Flow Rate (Mcf/d) | Helium Grade (%) |
|---|---|---|
| Darwin #1 | 2,750 | 1.1 |
| Linda #1 | 3,850 | 1.2 |
| Weil #1 | 2,300 | 1.0 |
| Inez #1 | Awaiting results | Awaiting results |
Helium Reserves (Mcf)
| Proved | Proved & Probable | Proved, Probable & Possible | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Souris and Red River | 165,300 | 142,200 | 241,500 | 207,800 | 355,300 | 305,700 |
Helium Contingent Resources (Mcf)
| 1C (P90) | 2C (P50) | 3C (P10) | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Souris River | 59,340 | 51,032 | 132,395 | 113,860 | 295,335 | 253,988 |
| Red River | 70,525 | 60,652 | 147,716 | 127,036 | 305,833 | 263,016 |
| Total | 129,865 | 111,684 | 280,111 | 240,895 | 601,168 | 517,004 |
Helium Prospective Resources (Mcf)
| 1C (P90) | 2C (P50) | 3C (P10) | ||||
|---|---|---|---|---|---|---|
| Reservoir | Gross | Net | Gross | Net | Gross | Net |
| Dry Creek. (risked)1 | 38,510 | 33,119 | 82,063 | 70,574 | 169,445 | 145,722 |
| Dry Creek (unrisked) | 52,754 | 45,368 | 112,415 | 96,677 | 232,116 | 199,620 |