The Bureau of Land Management (BLM) has transferred $60m generated from the sale and auction of crude helium from the Federal Helium Reserve to the US Treasury.
The BLM’s crude helium plant supplies approximately 27% of the US helium demand, and approximately 16% of the world’s helium demand.
The Federal Helium Reserve – a resource owned by the American people and managed by the BLM’s Amarillo Field Office – is the nation’s leading producer of crude helium for both the public and private sectors.
Crude helium is an important resource for technology development and other important uses related to national defence, energy, medicine, industry and space exploration.
The last sale was held in 2018, which was the point when the remaining purchased helium reached three billion cubic feet, the threshold at which the Helium Stewardship Act directs BLM into “Phase C” continued supply of Federal users through the Helium “In-Kind” sales program.
“The BLM is proud to announce that the Federal Helium Program has returned more than $2bn to the US Treasury from the sale and auction of crude helium between 2005 and 2018,” said Amarillo Field Manager Sam Burton.
The helium revenues were received in accordance with the Helium Stewardship Act of 2013, which provided for market-based pricing and competitive auctions for the sale of Federal helium.
The program is entirely revenue funded, operating using a revolving fund with all revenue generated being deposited into the fund, and therefore no taxpayer money is used in its operations.