"A true game changer," says Timothy Taylor, CEO of Rare Earth Exploration, LLC. Mr. Taylor emphasizes that "with this new gathering technology, the break-even price of helium is around $1/mcf. Now considering Grade A helium can bring as much as $200/mcf, the profit potentials are staggering." Mr. Taylor continues, "The play's already sky high potential is further bolstered by low drilling and well completion costs due to shallow target depths for helium reservoirs and conventional vertical completions with little need for fracking."
Well spacing requirements have recently been reduced, adding increased interest in helium exploration in Arizona, specifically the Holbrook Basin and the Pinta Dome Field, the largest discovery of helium found, to date, in Arizona.
Advances in technology and, global supply and demand have ushered in a new phase of development and excitement for these prolific Arizona helium fields as Mr. Taylor goes on to say, "The surface has only been scratched regarding helium production in the Holbrook Basin and specifically the Pinta Dome Field. With the new spacing rules you're going to see a lot of in-field drilling over the next few years in the Pinta Dome and Navajo Springs Fields."
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SOURCE Rare Earth Exploration