North American Helium has announced the commencement of operations at its 9th helium purification facility, located at Antelope Lake in southwest Saskatchewan. This milestone contributes to NAH’s impressive growth, bringing its total investment in Saskatchewan to $0.5 billion.
Nicholas Snyder, Chairman and CEO, commented on the development: “2024 has been a transformative year for NAH, marked by significant growth. With the successful launch of both our 8th and 9th helium facilities this year, we are making remarkable strides.” The Antelope Lake facility, situated about 50 kilometers (30 miles) west of Swift Current, marks a new operational region for the Company.
Snyder highlighted, “Since launching our first helium production facility in the summer of 2020, we’ve rapidly scaled our operations. We now account for approximately 7% of North America’s helium production, edging closer to our goal of 20% of the continent’s total supply.”
The rapid expansion has been supported by new government incentives, including the Critical Minerals Processing Investment Incentive (CMPII) and the Saskatchewan Critical Mineral Innovation Incentive (SCMII). These programs, tailored for critical mineral projects like helium, replace previous incentives such as the Oil & Gas Processing Investment Incentive (OGPII) and the Saskatchewan Petroleum Innovation Incentive (SPII). NAH has benefited from these programs for six of its helium facilities, including the Battle Creek facility, Canada’s largest helium processing plant. The Antelope Lake facility and any future helium projects will also leverage the new CMPII incentives.
The Antelope Lake facility is expected to produce around 50 MMcf/yr of purified helium, increasing NAH’s total production capacity to approximately 210 MMcf/yr. Preliminary well analyses in this region have revealed some of the highest helium concentrations NAH has encountered, suggesting promising potential for future developments.
Marlon McDougall, President and COO, noted, “Since our initial facility went live over four years ago, our execution speed has been unparalleled. The Antelope Lake facility was completed on schedule and within budget, a notable achievement in this industry. This reliability is due to our investment in key components, modularization, and the exceptional work of our team, all while maintaining a strong focus on safety.”
Looking ahead, NAH’s exploration efforts remain vigorous. The Company is actively exploring new areas within its nine-million-acre land base in Saskatchewan, running the industry’s most active exploration program. These efforts have already proven more than half a dozen unique helium play types and are progressing new play concepts through various stages of development.
Regarding the global helium market, Snyder remarked, “Current global events underscore the risks that have previously led to helium shortages. EU restrictions on helium imports from Russia, disruptions in Red Sea shipping, and potential conflicts in the Middle East highlight the volatility of the global supply chain. Amid these uncertainties, our commitment to providing a reliable, geopolitically secure helium supply continues to gain recognition from distributors and end-users.”
