Blue Spruce Operating has received a strategic investment to advance its Dry Piney project that is expected to produce over 800 million cubic feet per year of bulk liquid helium, once fully operational.
Located on the LaBarge Platform in Wyoming, the project, if successful, would be the second largest helium source in North America.
Japex Corp, a subsidiary of Japan Petroleum Exploration and global energy company, has today (19th Oct) announced its support for the project with its funding announcement. The collaboration with Japex will also add technical and commercial expertise to support the project through to a final investment decision and construction.
In addition to supporting the helium market in a time of increased demand, the Dry Piney Project would also permanently sequester significant volumes of carbon that would otherwise be emitted.
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