HyTerra Expands Nemaha Hydrogen and Helium Project in Kansas
Key Ideas
  • HyTerra acquires 13,000 additional acres to expand its Nemaha project to a total of 52,000 acres, focusing on hydrogen and helium exploration.
  • Shareholders to vote on a strategic investment of $21.9 million by Fortescue, allowing for an expanded six-well drilling program.
  • The new leased area offers play diversity and promising drilling locations, supported by reprocessed seismic data and identified subsurface features.
  • Nemaha's strategic location in Kansas provides proximity to industrial hubs, railways, roads, and potential offtakers for hydrogen and helium.
HyTerra has significantly expanded its Nemaha hydrogen and helium project in Kansas by acquiring an additional 13,000 acres of ground, bringing the total project area to approximately 52,000 acres. This expansion follows a previous increase from 12,880 to 39,000 acres just a month earlier. The company's focus on hydrogen and helium exploration led to the selection of the new leased area based on promising subsurface features identified through reprocessed seismic data. Shareholders are set to vote on a $21.9 million strategic investment by Fortescue in December, which will enable an expanded six-well drilling program. The drilling campaign, which includes wells across various geological plays, aims to identify optimal areas for development. Nemaha's location in a key industrial and manufacturing hub in Kansas positions it near essential infrastructure for transportation and potential offtakers. Past exploration wells have indicated the presence of hydrogen and helium, with significant percentages recorded. Overall, the expansion and investment signify positive momentum for HyTerra's exploration efforts in the region.
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