Western Resources and Clean Energy, LLC
Responsible Helium and Oil & Gas Exploration and Production
Project Opportunity
WRACE has acquired 125,676 net acres of mineral leases in Eastern Utah for the development of helium, natural gas, oil, and other industrial gases.
Market Analysis
The global market for helium reached $4.45 billion in 2022, and is expected to expand at a CAGR of 7.8% to $6.5 billion by 2027, and 6.6% to $8.9 billion by 2032. According to the USGS, the mean volume of recoverable helium within known geological natural gas reservoirs in the U.S. was estimated at 306 billion cubic feet plus 2.19 billion cubic feet in Federal helium inventory.
Resources
WRACE’s lease position provides for an opportunity for aggressive expansion through further drilling, development, and marketing of valuable resources such as helium, natural gas, and crude oil. WRACE's leases are located in an area well-known for successful oil and gas plays with upside growth potential based on well control, well logs, and future development work. For nearly 100 years, helium deposits have been documented in the natural gas wells of eastern utah; the Grassy Trails helium play straddles the Carbon-Emery Counties on the north-plunging end of the San Rafael Swell.
Helium
Helium is a relatively rare and utilized in various scientific, commercial, and industrial applications. Additionally, it has been classified by the U.S. Department of Interior as critical for national security and economic stiblity. Commercial helium deposits are known to occur in areas that are on the edges of hydrocarbon-bearing basins. Helium is generally considered economically viable for commercial production at concentrations greater than 0.3% in oil and gas deposits.