Grand Gulf Secures Helium Offtake Agreement

Grand Gulf Energy (GGE) signed a Gas Sales & Processing Agreement with Green Natural Gas (GNG), operator of the Lisbon Helium Processing Plant, located 20 miles north of the Jesse wells, enabling immediate monetisation of helium from its Red Helium project upon successful gas flow. Paradox Resources was the operator of the Lisbon Plant but after filing for Chapter 11 Bankruptcy, the plant was taken over by GNG, aided by an investment from Ascent Resources. The agreement connects the project directly to the Lison plant and facilitates an industry-standard revenue split and standard tariffs. The Lisbon Plant is comprised of a 60mmcf/d treatment plant with a 45mmcf/d cryogenic plant capable processing 1.1mmcf/d of helium, including liquefaction of 550mcf/d of high purity 99.9995% helium. The plant is set to prioritise gas from the Red Helium project, aiming to re-enter premium helium markets by year-end.

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