U.S. Energy Corporation announced on October 31, 2024, a major helium discovery following the successful completion of drilling operations on its initial well. This milestone provides significant validation for the company's strategic shift towards industrial gas production.
Independent laboratory results confirmed a high-quality, non-hydrocarbon-based helium discovery, with concentrations reaching up to approximately 1.0%. This non-hydrocarbon nature is a key competitive advantage, offering a lower environmental footprint compared to byproduct helium production.
The discovery from the initial development program in the Kevin Dome, Montana, underscores the potential of this asset to deliver future growth and revenue. This operational success is a critical step in establishing U.S. Energy as a leader in the emerging industrial gas sector.
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