M3 Helium Strengthens Market Position with New Option Agreement with Voyager Life and Continued Drilling Success
- Written by Newsfile
July 02, 2024 11:30 AM EDT | Source: PRNews OU[1]
Topeka, Kansas--(Newsfile Corp. - July 2, 2024) - M3 Helium, a gas extracting company focused on helium exploration and production, is pleased to announce the signing of an option agreement with Voyager Life PLC (VOY.AQ), a publicly listed British company. This agreement grants Voyager Life the option to acquire the entire share capital of M3 Helium in exchange for shares of VOY. This strategic move marks a significant milestone in M3 Helium's ongoing efforts to expand its operations and enhance its market presence.
M3Helium
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"By merging with British company Voyager Life PLC, if the option is exercised, M3 Helium expects to be able to rapidly expand its business by the acceleration of its drilling program of horizontal and vertical helium-producing wells, and as a consequence, provide significant value to its shareholders," said Anthony Melikhov, CEO of M3 Helium.
The company has been actively drilling and developing wells in the Hugoton Gas Field, one of the largest and most historic gas fields in North America. The Hugoton Gas Field is renowned for its extensive existing infrastructure, including the Jayhawk Helium Processing Plant, originally built by the US government, and an extensive network of gas pipelines owned by the largest energy company in Kansas.
Geological Potential and Operational Efficiency
The Hugoton Gas Field has a rich history of substantial gas and helium production dating back to the mid-20th century, with thousands of wells producing significant quantities of these resources in Kansas alone. Recent geological data indicates that M3 Helium's operational area within the field is notably underdeveloped due to historically low concentrations of methane and the inability of gas producers to sell helium until recently. Unlike other parts of the Hugoton Field, this area contains a non-depleted reservoir of helium-rich gas, valued at billions of dollars according to a geological report compiled by WSP, one of the leading engineering firms in the world. Helium concentrations in this area average twice as high as in other parts of the field.
Unlike many startups in the helium sector, M3 Helium is already a producing company with established relationships with the operator of the pipeline and processing plant as well as purchasers of helium. These relationships enable M3 Helium to secure the most competitive prices for its helium output.
Efficient and Scalable Production
M3 Helium has developed economical wells that can be drilled, completed, and put into production within several months. This efficiency positions the company to rapidly scale its operations. A recent report by a globally recognized engineering and geological firm highlights the potential for M3 Helium to significantly expand its project, with the potential to drill hundreds of vertical and horizontal wells, which could produce significant revenue for the company in a relatively short period of time.
In the immediate term, and through its proposed combination with Voyager Life PLC, M3 Helium will have access to capital to drill and complete further vertical and horizontal wells within the coming months.
About M3 Helium
M3 Helium is a gas extracting company focused on helium exploration and production. The company leverages existing infrastructure, historical data, strategic relationships, and economical production methods to meet the growing demand for helium in various high-tech and medical industries.
Additional information can be found in this article from Morningstar[3].
For more information, please visit www.m3helium.com[4] or contact our PR department
Media Contact:Sergey MezhericherM3 Helium PR DepartmentEmail: info@m3helium.com[5]Phone: +1(316) 202-8813
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215233[6]
References
- ^ PRNews OU (www.newsfilecorp.com)
- ^ https://images.newsfilecorp.com/files/8871/215233_37c7bb0df470da16_001full.jpg (images.newsfilecorp.com)
- ^ article from Morningstar (api.newsfilecorp.com)
- ^ www.m3helium.com (api.newsfilecorp.com)
- ^ info@m3helium.com (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/215233 (api.newsfilecorp.com)
- ^ PRNews OU (www.newsfilecorp.com)