New Era Helium hired Arjae to construct its Pecos Slope Plant in New Mexico to process its gas from the Pecos Slope Field, where helium concentration range from 0.17% to 1.5% with an average of 0.5%. The plant is expected to produce 32mmcf/year of gaseous helium and commence operations on June 1, 2024. The plant will also produce 16mmcf/d of methane and 1kbbl/d of NGLs. New Era has also completed a successful RFQ process and anticipates securing a 10-year helium sales agreement with major global industrial gas and foreign Tier 2 gas companies. The Company has over 772 proved, probable, and possible drilling locations on its approximate 137,000 gross acres.
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