Helium exploration and development company Desert Mountain Energy has signed a binding letter of intent to purchase the Pecos Slope West Abo gas field and gas gathering system in Chaves County, New Mexico.
It is hoped that Desert Mountain Energy will close the purchase on 30th June (2023). Once acquired, the company will immediately assume operations and revenue from the existing 188 gas wells and one water disposal well.
The acquisition follows the company’s plans to utilise its mobile modular and scalable helium processing plant design, where applicable, elsewhere in the US.
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