Helium One to start integrated processing at Galactica-Pegasus

12th Feb 2026 13:53

(Sharecast News) - Helium One Global said on Thursday that operations at the Pinon Canyon Plant at the Galactica-Pegasus helium development project in Colorado were set to start integrated processing next week, as the joint venture advanced towards commercial production.

The AIM-traded company, which holds a 50% working interest in the Galactica Project, provided an update following an announcement by operator Blue Star Helium.

It said the operator reported that the amine unit, designed to remove carbon dioxide from the input gas stream, was now operational and formed part of the carbon dioxide processing train.

With the unit in place, gas would be processed through the Helium Recovery Unit and into tube trailers.

Following first gas in December, the plant was temporarily shut-in to allow for integration of the amine unit.

In January, the first tube trailer was delivered while the plant underwent final technical readiness checks and optimisation.

Integrated plant operations were now scheduled to begin next week.

The operator's next focus would be installation of carbon dioxide liquefaction and load components, which were projected to be added in the first half of 2026, alongside finalisation of commercial agreements.

Arrangements had been made for spot sales of helium, while discussions regarding long-term contracts with both helium and carbon dioxide off-takers were said to be progressing, targeting a blend of short-term sales and longer-term offtake agreements aligned with the planned ramp-up in processing capacity.

On the infrastructure side, tie-ins for the State-9 and State-16 wells into the gathering system had been completed and were ready for connection to the production facility.

Construction of the gathering system to connect the Jackson-2 well was underway, including a T-section to allow future connection of Jackson-27, which was expected to support near-term production increases.

Further tie-ins and infill drilling were planned through 2026 as part of a broader ramp-up strategy aimed at scaling gas processing at the Pinon Canyon Plant and increasing revenues from the Galactica Project.

At 1351 GMT, shares in Helium One Global were up 8.23% at 0.5p.

Reporting by Josh White for Sharecast.com.