Navajo Transitional Energy Company (NTEC) has acquired Tacitus LLC, a US-based helium development company, and its related subsidiaries
The acquisition consists of helium wells and infrastructure in the Tocito Dome Field on the Navajo Nation as well as Federal and State leases for additional exploration in Utah.
The Tocito Dome Field, New Mexico, is proven and producing with existing offtake contracts in place, according to NTEC, which is a single member limited liability company, which owns mines in New Mexico, Wyoming and Montana.
NTEC CEO Clark Moseley said, “Helium is a vital resource to the world and has been identified as a key strategic asset for the US. The Navajo Nation possesses some of the largest and cleanest known helium reserves in the world. Tacitus was an early advocate for the development of helium on the Navajo Nation and we are excited to expand our operations on the Navajo Nation by acquiring Tacitus and its existing helium operations and lease.”
The helium produced in the Tocito Dome Field is 7% helium, which reduces processing and makes it one of the cleanest deposits in the world, according to a statement from NTEC.