North American Helium has agreed to drill five new wells for helium exploration company Helium Evolution in southern Saskatchewan, Canada.
As Helium Evolution’s farm-in partner, North American Helium has confirmed the wells are pursuant to agreements announced in October (2022).
Under terms of the farmout agreement, Helium Evolution would accelerate cash flow generation without incurring up-front capital cost and would retain 99% of its land base.
It also said that, at no cost, Helium Evolution will receive North American Helium’s proprietary seismic that was recently used to drill successfully producing North American Helium wells in the Mankota area.
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