AIM-listed Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, notes the Blue Star Helium announcement issued today regarding the Galactica Project, and replicated below.
Operator Reported Highlights
- The first production tube trailer has been sold and now left the Pinon Canyon Plant, concluding the early production commissioning and optimisation phase
- Pinon Canyon Plant uptime and production fill rates have increased recently, following longer phases of steady-state operation
- A new tube trailer under the offtake agreement announced on 4 June 2026 is now on site and being filled
- Ongoing helium output growth is expected to be driven by planned production ramp-up, including debottlenecking of the plant and gathering system, drilling of additional development wells and deepening of existing wells to increase flow
Helium One CEO, Lorna Blaisse, commented:
'This represents a significant milestone for Helium One, with the Company now generating its first revenues from the Galactica-Pegasus joint venture project. This achievement validates our strategic decision to diversify our portfolio and provides an important foundation for future growth. We are pleased to continue working closely with Blue Star Helium as the Joint Venture progresses its development plans, including further drilling and additional revenue generation.'
Production and Delivery Status Reported by the Operator
Following completion of early production commissioning and optimisation phase, the Pinon Canyon Plant has recently seen substantially increased uptime and longer phases of steady-state operation. It is now demonstrating routine runtime, shut-in and restart cycles more characteristic of the expected long-term operational profile.
With the recent acceleration in uptime and helium output, production fill rates have increased significantly, and the first tube trailer under an early production spot sales arrangement has now left site. The second tube trailer (and the first under the 3-month fixed price offtake agreement announced on 4 June 2026) is now on site and being filled.
As plant and gathering system refinement continues, and in line with development planning for this stage of ramp-up, the Operator is looking at the potential to deepen existing wells to expose more reservoir and further increase flow. Consistent with original development planning, and subject to permit approval, the Operator plans to drill three new wells for tie-in to the Pinon Canyon Plant during H2 2026, which are expected to further increase raw gas throughput and helium product output.
Operator Reported Current Helium Market
The North American helium market continues to exhibit strong pricing fundamentals, driven by sustained, structural demand across high-technology manufacturing sectors, particularly semiconductor fabrication, aerospace engineering, and advanced defence technologies. The global helium market continues to be affected by structural supply chain disruptions, rationing and surcharges, particularly resulting from prolonged instability in Middle Eastern supply routes, which has materially increased demand for reliable, US-sourced domestic supply.
Original announcement link
Source: Helium One Global
