Japex invests in Blue Spruce’s Dry Piney Helium Project, Wyoming
- Oct 19, 2023
- 2 min read
Private US company Blue Spruce Operating has secured a strategic investment from Japex (US) Corp, a subsidiary of Japan Petroleum Exploration Co. This investment will support getting the Dry Piney Project to FID, which is located adjacent to Exxon’s La Barge field in Wyoming. It has the potential to be a substantial new global helium resource with 800mmcf/y of helium production, becoming North America's second-largest helium source. The project is expected to be high cost given the complex wells and need to deal with high H2S content, however it is low risk given the proven Exxon project next door. The project will also include a CCS facility given the high CO2 content in the gas. We expect it would be at least three years until first production.