The US Bureau of Land Management’s (BLM) much anticipated FY 2019 Crude Helium Auction that had been scheduled to take place at 1:00 PM today (July 18th) in Amarillo, Texas was abruptly cancelled by the BLM just before 7:00 PM yesterday, discloses Phil Kornbluth, President of Kornbluth Helium Consulting, LLC and member of gasworld’s US Editorial Advisory Board.
The auction was cancelled due to a temporary restraining order obtained by Weil Group Resources (Weil) in the United States District Court For the Northern District Of Texas, Amarillo Division, earlier in the afternoon. Unfortunately, due to the late cancellation, most of the planned participants in the auction had already arrived in Amarillo or were in transit to Amarillo at the time the cancellation was announced.
Weil, who had purchased crude helium in the previous year’s BLM auction and Conservation Sale, had filed a complaint against the BLM on 11th July due to their dis-satisfaction with the BLM’s methodology for allocating crude helium deliveries to the various companies who hold crude helium inventory within the BLM’s Crude Helium Pipeline & Storage System.
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