Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, announces the filing of the Company's interim condensed financial statements and associated management's discussion and analysis for the three and six months ended June 30, 2024 (the " Q2 Report ").
Complete details of the Q2 Report are available on SEDAR+ at www.sedarplus.ca , and on HEVI's website .
Three and Six Months Ended June 30, 2024 Highlights:
| Three months ended | Six months ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 |
| Financial | ||||
| Net loss | 254 | 331 | 493 | 642 |
| Net loss per share, basic and diluted | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash | 4,766 | 7,728 | 4,766 | 7,728 |
| Working capital | 4,708 | 8,781 | 4,708 | 8,781 |
| Total assets | 10,863 | 13,027 | 10,863 | 13,027 |
| Total liabilities | 374 | 375 | 374 | 375 |
| Weighted average shares outstanding | ||||
| Basic and diluted 1 | 96,033,974 | 96,033,974 | 96,033,974 | 96,033,974 |
1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
During the three and six months ended June 30, 2024, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan. With three recent helium discoveries, HEVI has made considerable progress on its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, as evidenced by the Company's positive working capital position of $4.7 million at June 30, 2024, excluding $0.8 million of tubing and casing that was pre-purchased but not yet utilized.
Operations Update
HEVI is also pleased to provide an operations update, including stimulation results from the helium discovery well at 9-18-3- 8W3 (the " 9-18 Well ") at Mankota, in which HEVI maintains a 20% working interest alongside its partner and the operator of the 9-18 Well, North American Helium Inc. (" NAH ").
HEVI and NAH are strategically planning to embark on an ambitious drilling program, with up to nine joint development wells (the " New Wells ") that are expected to build on the three existing helium discoveries in the Mankota area of Saskatchewan, each of which is described in more detail below. To date, surface and environmental restrictions have prevented access to certain parts of Mankota, resulting in some deferrals of drilling, testing and other operating activities in the area. Given this seasonal shift, go forward development at Mankota will be targeted through the upcoming winter months, when restrictions are eased and access allowed.
For context, the map shown here demonstrates the positioning of each of HEVI's helium discovery wells, future drilling targets and the processing facility licensed at 12-30-2-8W3 (the " 12- 30 Facility ").
Helium Discovery - 9-18 Well
Helium Discovery - 2-31 Well
Helium Discovery - 9-35 Well
New Well Drilling and Seismic Program
Looking ahead, HEVI remains strategically positioned and highly differentiated due to its successful partnership with NAH, Canada's leading helium driller and producer in Saskatchewan. With a sizeable land base, healthy working capital and numerous catalysts on the horizon, the Company remains excited about the future.
HEVI wishes to thank all shareholders and stakeholders for their continued support and looks forward to providing future updates on its exploration and development activities.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website , which includes an updated corporate presentation , and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably- produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | heviinfo@5qir.com | 1-403-705-5076 |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders, future production from the 9-18 Well, the 2-31 Well and the 9-35 Well, the Company's expectations regarding scalable helium production from its land generally, the Company and/or NAH's plans with respect to the 9-18 Well, the 2-31 Well and the 9- 35 Well, potential drilling locations on the 4 Crown Sections, water production in the 9-18 Well, the 2-31 Well and the 9-35 Well, the Company's expectations regarding recoverability of helium, the size and nature of the reservoir, the Company and/or NAH's ability to identify future exploration and drilling targets including the New Wells, exploration strategies and delineation, productivity and commerciality of downdip reservoirs, productivity of multiple helium bearing zones, presence of a trap or cap rock in the Mankota area, the size of the helium fairway, the Company and/or NAH's plans with respect to drilling the New Wells, the Company's ability to identify seismic studies, shooting seismic over the 4 Crown Sections and the timing thereof, the success of the partnership with NAH, the Company's intention to provide further updates regarding significant updates and developments, the Company becoming a leading supplier of sustainably-produced helium, the timeline of future updates, the Company's beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance, achievements or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH and/or HEVI may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may abandon or defer plans for continuing the completion, testing and evaluation of the 9-18 Well; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including the New Wells and/or wells on the 4 Crown Sections; the Company may abandon, defer or accelerate its plans to acquire or shoot seismic; the Company and/or NAH may determine not to bring the 9-18 Well, the 2-31 Well and/or the 9-35 Well onto production; the Company may abandon its plans to shoot seismic and/or acquire seismic studies; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company's working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors, risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
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Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update regarding its Mankota helium discoveries.
The 9-18-3-8W3 well (" 9-18 Well ") stimulation is now anticipated to take place later in June or in July 2024. The delay is due to higher than normal rainfall in the Mankota area, which has impacted the surface conditions and postponed the start of the 9-18 Well stimulation.
Looking ahead, HEVI is diligently working on acquiring surface leases for multi drilling locations on four sections of recently acquired land, in which the Company holds a 100% working interest (" 4 Crown Sections "). In addition, HEVI and its partner, North American Helium Inc. (" NAH "), are working together to finalize drilling locations and acquire surface leases for up to nine joint development wells (the " New Wells ") on a defined helium trend in the Mankota area. The New Wells are expected to spud between Q3 2024 and Q2 2025.
Additionally, HEVI announces that, subject to applicable TSX Venture Exchange approval, the Board of Directors of the Company has approved the amendment of an aggregate of 700,000 incentive stock options, of which 420,000 incentive stock options have vested (the " Amended Options "), previously granted to certain consultants, and investor relations service providers of the Company under the Company's 2021 stock option plan (the " Option Amendments "). The Amended Options were originally granted on June 30, 2022 at an exercise price of $0.385 per share and are exercisable until June 30, 2027. Pursuant to the Option Amendments, the exercise price of the Amended Options has been amended to $0.15 per share and there is no change to the expiry date. None of the Amended Options are held by insiders of the Company.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website , which includes the Company's current corporate presentation , and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | heviinfo@5qir.com | 1-403-705-5076 |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding to obtain TSXV approval, the Company's ability to obtain the necessary consents, approvals or authorizations, and the timing and possible outcome of same, the Company's expectations regarding the Company and/or NAH's development and exploration plans and ability to obtain surface leases, the Company's expectations regarding the Mankota helium discoveries, the Company and/or NAH's ability to identify future exploration and drilling targets including the New Wells, the stimulation of the 9-18 Well including the timing and the achievable results and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including the New Wells and/or the 4 Crown Sections; the Company and/or NAH may be unable to obtain surface leases; the Company and/or NAH may abandon plans to stimulate the 9-18 Well; the Company may not receive the necessary consents, approvals or authorizations required.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to report that all matters presented for approval at its annual general and special meeting of shareholders held on May 22, 2024 (the " Meeting ") were approved. A total of 29,481,254 common shares representing 30.7% of the Company's issued and outstanding common shares were voted in person or represented by proxy at the Meeting.
The shareholders voted in favour of all matters set out in the Company's Management Information Circular dated April 22, 2024 (the " Circular "), including the election of all seven director nominees of HEVI for the ensuing year or until his or her successor is elected or appointed. Each nominee received greater than 96% of votes in favour.
At the Meeting, shareholders also approved: (1) fixing the number of directors of the Company for the ensuing year at seven; (2) appointing KPMG LLP as the auditors of the Company for the ensuing year and authorizing the directors to fix the remuneration to be paid to the auditors; and (3) approving and confirming the rolling 10% stock option plan of the Company, as more particularly described in the Company's Circular.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO | Phone: 1-587-330-2459 |
| Kristi Kunec, CFO | Email: info@heliumevolution.ca |
| Web: https://www.heliumevolution.ca/ | |
| Cindy Gray, Investor Relations | info@5qir.com | 1-403-705-5076 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's interim condensed financial statements and associated management's discussion and analysis for the three months ended March 31, 2024 (the " Q1 Report ").
Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website.
Three Months Ended March 31, 2024 Highlights:
| Three months ended | ||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | March 31, 2024 | March 31, 2023 |
| Financial | ||
| Net loss | 239 | 311 |
| Net loss per share, basic and diluted | 0.00 | 0.00 |
| Cash | 5,304 | 8,229 |
| Working capital | 4,992 | 9,226 |
| Total assets | 11,293 | 13,094 |
| Total liabilities | 668 | 356 |
| Weighted average shares outstanding | ||
| Basic and diluted 1 | 96,033,974 | 96,033,974 |
1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
During the three months ended March 31, 2024, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan. With three recent helium discoveries and a six to nine well drilling program as announced on April 2, 2024, HEVI has made considerable progress on its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, demonstrated by a positive working capital position of $5.0 million at March 31, 2024, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.
HEVI wishes to thank all shareholders and stakeholders for their continued support and as always, HEVI is committed to updating the market on significant events and developments as information becomes available.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles, HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO | Phone: 1-587-330-2459 |
| Kristi Kunec, CFO | Email: info@heliumevolution.ca |
| Web: https://www.heliumevolution.ca | |
| Cindy Gray, Investor Relations | info@5qir.com | 1-403-705-5076 |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders, the Company's expectations regarding scalable helium production from its land generally, the Company's expectations regarding recoverability of helium and development of the three recent helium discoveries, the Company's ability to preserve capital, the drilling ,timeline for and success of any future drills, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company and/or its partner may be unsuccessful in drilling commercially productive wells; the Company and/or its partner may choose to defer, accelerate or abandon its drilling plans; the Company and/or its partner may determine not to bring wells onto production; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break- up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's annual financial statements and associated management's discussion and analysis for the year ended December 31, 2023 (the " Annual Report ").
Complete details of the Annual Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website .
Three Months and Year Ended December 31, 2023 Highlights:
| Three months ended | Year ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | December 31, 2023 | December 31, 2022 | December 31, 2023 | December 31, 2022 |
| Financial | ||||
| Net loss | 1,719 | 520 | 2,953 | 7,363 |
| Net loss per share, basic and diluted | 0.02 | 0.01 | 0.03 | 0.09 |
| Cash | 6,330 | 9,128 | 6,330 | 9,128 |
| Working capital | 5,743 | 10,236 | 5,743 | 10,236 |
| Total assets | 11,639 | 13,022 | 11,639 | 13,022 |
| Total liabilities | 872 | 226 | 872 | 226 |
| Weighted average shares outstanding | 96,033,974 | 96,033,974 | ||
| Basic and diluted 1 | 96,033,974 | 78,397,100 | ||
| 1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive. |
During the year ended December 31, 2023, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan and advancing its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, demonstrated by a positive working capital position of $5.7 million at December 31, 2023, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.
Operations Update
Looking forward to the remainder of 2024 and into 2025 and as announced on April 2, 2024 , the Company is strategically planning to embark upon a drilling program in the Mankota area of Saskatchewan with its partner, North American Helium Inc. (" NAH "), building upon three existing helium discoveries in the region. HEVI and NAH are planning to drill up to nine joint development wells (the " New Wells ") which are expected to spud between Q3 2024 and Q2 2025, subject to surface and environmental restrictions. With HEVI's 20% working interest in the New Wells, the Company is positioned to capitalize on this strategic expansion.
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Greg Robb, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https:// www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | info@5qir.com | 1-403-705-5076 |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company and/or NAH's exploration and drilling plans including the New Wells, the Company's expectations regarding scalable helium production from its land generally , the Company's expectations regarding recoverability of helium, the Company and/or NAH's ability to identify future exploration and drilling targets, the Company's ability to capitalize upon the New Wells, increasing shareholder value, the Company's ability to preserve capital, the drilling timeline for and success of any future Company and/or NAH drills, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its drilling plans, including the New Wells; the Company and/or NAH may determine not to bring wells onto production; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Westport Fuel Systems Inc. (TSX: WPRT Nasdaq: WPRT) ("Westport" or "The Company") announces that the Company will release Q2 2025 financial results on Monday, August 11, 2025, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Tuesday, August 12, 2025.
Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register-conf.media-server.com/register/BI842f3b76bd5b44c7aee3e609a6cc77b3
Webcast: https://investors.westport.com
Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.
The webcast will be archived on Westport's website and a replay will be available at https://investors.westport.com
Light-Duty Divestment Transaction Update
Westport today reaffirms its commitment to the pending sale of its Light-Duty Segment to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. ("Heliaca Investments"), a Netherlands based investment firm supported by Ramphastos Investments Management B.V. a prominent Dutch venture capital and private equity firm (the "Transaction"), first announced in March 2025. The closing of the Transaction is now expected to occur in July 2025, slightly later than originally anticipated. The revised timeline reflects an updated regulatory review process. The Company continues to work closely with all parties as the remaining conditions to close are finalized.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.westport.com .
Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@westport.com
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L'équipe Charbone servira de conseiller expert auprès d'un groupe financier privé malaisien pour le développement et la construction de leur première usine de production modulaire et évolutive dans la région Asie-Pacifique.
Brossard (Québec) TheNewswire - le 25 juin 2025 - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une rare compagnie cotée en bourse spécialisée dans la production et la distribution d'hydrogène vert en Amérique du Nord, a le plaisir d'annoncer la signature d'une entente-cadre de collaboration avec Green Hydrogen ASIAPAC SDN BHD pour soutenir le déploiement de leur première usine phare de production de dihydrogène ultrapur (UHP) en Malaisie, basée sur le modèle modulaire et évolutif de Charbone. Cette approche de production de distribution décentralisée, destinée aux utilisateurs finaux, s'inscrira dans un nouvel écosystème durable en Malaisie et pourrait être étendue à la région Asie-Pacifique, où Charbone pourrait mettre à profit son expertise.
Grâce à cette entente de collaboration, Charbone apportera son expérience dans divers domaines du développement, de la construction et de l'exploitation d'un projet complet. Cela comprend, entre autres, le choix du site, l'interconnexion, les contrats d'achat et de vente d'électricité, la conception initiales (FEED), l'ingénierie et le financement du projet, ainsi que l'identification et la sélection des fournisseurs appropriés, notamment pour les équipes d'ingénierie, et les équipements de production et de distribution.
Charbone partagera sa vaste expérience et ses connaissances acquises au cours des cinq dernières années et les monétisera. En retour, elle diversifiera et augmentera ses sources de revenus grâce à une approche collaborative qui sera reproduite avec d'autres partenaires et pays de la région, au bénéfice de ses actionnaires, ardents supporteurs du modèle Charbone depuis des années.
L'entente de collaboration permettra à Charbone de percevoir une rémunération unique, payable en espèces ou investie dans le projet. Charbone négocie actuellement des accords et des arrangements similaires avec d'autres partenaires dans différentes régions du monde.
" Cette entente reconnaît tous les efforts déployés par Charbone au cours des cinq (5) dernières années pour créer un modèle d'écosystème durable qui fonctionne dans le monde réel et pas seulement sur le marché nord-américain , a dit Dave Gagnon, Président et chef de la direction de Charbone. Il continue, " Quand on regarde le marché actuel de l'hydrogène, on se rend compte que les deux marchés les plus prometteurs sont l'Amérique du Nord et l'Asie-Pacifique, que nous commençons maintenant. "
" Nous sommes ravis d'officialiser cette collaboration stratégique avec Charbone. Leur approche modulaire et décentralisée éprouvée s'inscrit parfaitement dans notre vision d'accélérer l'adoption de l'hydrogène vert en Malaisie et dans la région Asie-Pacifique. En tirant parti de l'expertise et des capacités de conseil uniques de Charbone, nous sommes convaincus de pouvoir réaliser un projet de production de haute qualité, évolutif et durable, qui servira de modèle pour les développements futurs , a dit Kamshul Kasim, Président exécutif de Green Hydrogen ASIAPAC SDN BHD. Il continue, " Ce partenariat marque une étape importante dans notre engagement à contribuer à la transition énergétique propre de la Malaisie et à nous positionner à l'avant-garde de l'économie émergente de l'hydrogène vert dans la région . "
À propos de Charbone Hydrogène Corporation
Charbone est une entreprise intégrée spécialisée dans l'hydrogène ultrapur (UHP) et la distribution stratégique de gaz industriels en Amérique du Nord et en Asie-Pacifique. Elle développe un réseau modulaire de production d'hydrogène vert tout en s'associant à des partenaires de l'industrie pour offrir de l'hélium et d'autres gaz spécialisés sans avoir à construire de nouvelles usines coûteuses. Cette stratégie disciplinée diversifie les revenus, réduit les risques et augmente sa flexibilité. Le groupe Charbone est coté en bourse en Amérique du Nord et en Europe sur la bourse de croissance TSX (TSXV: CH); sur les marchés OTC (OTCQB: CHHYF); et à la Bourse de Francfort (FSE: K47). Pour plus d'informations, visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Pour contacter Corporation Charbone Hydrogène :
Téléphone bureau: +1 450 678 7171 | ||
Courriel: ir@charbone.com Benoit Veilleux Chef de la direction financière et secrétaire corporatif |
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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The CHARBONE team will serve as expert matter advisors to a private Malaysian financial group for the development and construction of their first modular and scalable production facility in the Asia-Pacific region.
Brossard, Quebec TheNewswire - June 25, 2025 Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE "), North America's only publicly traded pure-play company focused on green hydrogen production and distribution, is pleased to announce that it has executed a Master Collaborative Agreement with Green Hydrogen ASIAPAC SDN BHD to support the deployment of its first dihydrogen Ultra High Purity (UHP) production flagship facility in Malaysia, based on the CHARBONE modular and scalable model. The decentralized distributed approach for end-users will be part of a new sustainable ecosystem in Malaysia and could eventually be extended to the Asia Pacific region, where CHARBONE could leverage its expertise.
Through the collaboration agreement, CHARBONE will provide experience in various areas of a complete project development, construction, and operation of the facility. This includes, but is not limited to, site selection, interconnection, power purchase and offtake agreements, front-end engineering and design (FEED), project financing, and the identification and selection of appropriate suppliers, such as engineering, production, and distribution equipment.
CHARBONE will share its extensive experience and knowledge gained over the last five years and monetize it. In return, it will diversify and increase its revenue stream through a collaborative approach that will be replicated with other partners and countries in the region, benefiting its shareholders who have been strong supporters of the CHARBONE model for years.
The Collaborative Agreement will provide CHARBONE with a single one-time fee that can be paid in cash or invested in the project. CHARBONE is currently negotiating similar agreements and arrangements with other partners in different regions of the globe.
" This agreement recognized all the efforts that CHARBONE has deployed over the last five (5) years to create a sustainable ecosystem model that works in the real world and not only in the North American market ," said Dave Gagnon, President and CEO of Charbone. He continued , " when you look at the current hydrogen market, you do realize that the two most promising markets are North America and Asia-Pacific, which we are starting now. "
" We are delighted to formalize this strategic collaboration with CHARBONE. Their proven modular and decentralized approach aligns perfectly with our vision to accelerate the adoption of green hydrogen in Malaysia and the wider Asia-Pacific region. By leveraging CHARBONE's unique expertise and advisory capabilities, we are confident that we will deliver a high-quality, scalable, and sustainable production project that will serve as a blueprint for future developments ," said Kamshul Kasim, Executive Chairman of Green Hydrogen ASIAPAC SDN BHD. He continued , " this partnership marks a significant milestone in our commitment to contribute to Malaysia's clean energy transition and to position ourselves at the forefront of the emerging green hydrogen economy in the region. "
About CHARBONE Corporation
CHARBONE is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility. The CHARBONE group is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com .
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Contact Charbone Hydrogen Corporation | |
Telephone: +1 450 678 7171 | |
Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Additionally, signs of cooling economic growth in China and renewed trade war anxiety between the US and China further pressured market sentiment. As concerns over a trade war and energy tariffs subsided, prices were able to rally through the rest of May and June to hold in the US$78.42 and US$77.19 range for Brent and WTI, respectively.
Now approaching the year-to-date high level global strife and potential supply constraints are adding support.
During an International Energy Agency (IEA) presentation, Fatih Birol, executive director of the IEA, addressed the current challenges in the global landscape, particularly the mounting conflict in the Middle East.
“The situation is still unfolding, and there are many uncertainties (about) how and if it is going to have structural impacts on the oil and energy markets,” he said, noting that the IEA would not be speculating.
However, Birol did underscore Iran’s position in the global oil market.
“According to our oil market report, currently, Iran produces about 4.8 million barrels per day (mb/d) of crude, condensate and NGL and exports are around 1.8 mb/d of crude oil and 800,000 b/d of products,” he said. “For now, when we look at the markets, we do not see a major supply disruption.”
Although the regional conflicts have infused uncertainty into markets, longer term fundamentals like supply and demand trends are painting a volatile picture.
As noted in the IEA’s recently released Oil 2025: Analysis and Forecast to 2030 report, supply is likely to outpace demand this year and next.
“Our expectations for demand growth are much less than the supply growth,” explained Birol. “We expect demand this year to grow about 700,000 barrels per day, whereas the supply growth we expect is more than double, about 1.8 mb/d.”
More broadly, the IEA report forecasts global oil demand to rise by 2.5 mb/d between 2024 and 2030, reaching 105.5 mb/d by decade’s end.
However, most of that growth will occur early in the period, with gains slowing after 2026 and dipping slightly by 2030. Weaker economic growth and a shift away from oil use in transportation and power generation are the main factors behind the long term slowdown.
Much of the demand forecast is dominated by powerhouse countries US and China which account for 20 mb/d and 13 mb/d respectively, comprising 33 percent of global demand. As such changes to either country's market can have a large sale effect across the sector.
“When we look at the supply side, global oil production in the last 10 years or so, more than 90 percent of the growth came from the United States. And on the demand side, more than 60 percent of the global oil demand growth came from China,” said Birol. “This came almost parallel and simultaneously.”
Now, again working in tandem, US oil production growth is slowing due to economic and geological factors, while China’s oil demand is also losing momentum as its economy shifts and its transportation sector evolves according to Birol.
Economic concerns are also an issue across the globe, and historically gross domestic product is heavily correlated to oil demand.
Global GDP is expected to grow at an average annual rate of 3 percent through 2030, but that growth is uneven. OECD countries will see slower expansion at 1.8 percent, while non-OECD nations are projected to grow at 3.9 percent.
This global pace falls short of the 2010s trend, with factors like aging populations and reduced globalization weighing on long-term growth and trade.
China’s slowdown is particularly sharp, with its annual GDP growth nearly four percentage points lower than in the previous decade due to structural economic and demographic challenges.
While GDP remains a key driver of oil demand, its influence is fading.
Oil consumption is set to rise in 2025 and 2026 in line with economic growth, but from 2027 onward, demand is expected to plateau and then slightly decline. That shift is being driven by the growing use of alternatives in transportation and power generation.
Despite a projected decline in US output, the IEA expects oil supply to remain robust in other regions.
“We expect between now and 2030, about 5 mb/d of additional production capacity,” the CEO of the IEA remarked.
“A big chunk of it is coming from what we call the American quintet, namely US, Brazil, Canada, Guyana and Argentina. These five countries will bring a lot of oil to the markets.”
Providing a more detailed look at the supply picture, Toril Bosoni, head of oil industry and markets division at the IEA reiterated that global oil supply is on track to outpace demand through 2030, offering a stabilizing force in an otherwise uncertain energy landscape.
As Bosoni explained, supply is expected to grow by 1.8 mb/d in 2025, a trend largely being driven by non-OPEC+ countries, particularly in the Americas.
Additionally, natural gas liquids are playing an increasingly important role in this growth, as US shale production shifts focus and Saudi Arabia expands its gas-linked output.
“Looking into the next year, from 2025 until 2030 we can see that the United States is still a big source of supply growth, but the pace of growth is much slower than what we have seen for the past decade, and it's largely driven by gas liquids, as activity in the shale patch is slowing down and getting more into the gas side,” said Bosoni.
IEA data projects total global oil supply capacity to rise by about 5 mb/d by the end of the decade. Most of this growth will come from outside OPEC, and is closely aligned with rising demand for petrochemical feedstocks, such as ethane and naphtha, which bypass the traditional refining process.
However, traditional crude supply is expected to see only modest gains unless additional projects—many of which have yet to reach a final investment decision—move forward.
The refining sector, meanwhile, may face increasing pressure as fuel demand flattens and high-cost plants, particularly in Europe and parts of Asia, become less competitive.
Despite slowing demand, the coming years are expected to bring ample supply—helping to buffer against geopolitical shocks and lending some reassurance to markets amid broader global economic headwinds, Bosoni added.
The natural gas markets faced heightened volatility through H12025, driven by several key factors. A milder-than-expected winter in major consuming regions like the US and Europe led to weaker heating demand, pushing prices lower early in the year.
However, Q2 saw a rebound as unseasonably hot weather in Asia and parts of North America boosted cooling demand. Supply disruptions, including maintenance delays at major LNG export facilities in the U.S. and Australia, further tightened markets.
Starting the year at US$3.65 per metric million British thermal units, prices rose to a H1 high of US$4.49 in March, before falling to a H1 low of US$2.99 in late April.
Geopolitical tensions, particularly instability in the Middle East affecting shipping routes, added upward pressure through May and June pushing prices back above US$4.00 by mid-June.
Natural gas price performance, December 19, 2024, to June 19, 2025.
Chart via The Investing News Network.
Natural gas liquids (NGLs) are emerging as a major driver of global oil supply growth through the end of the decade, with output forecast to rise by 2 mb/d to 15.5 mb/d by 2030, according to the IEA.
Much of this increase will come from North America and the Middle East, which will account for nearly half of all global supply gains over the next five years.
As noted in the report, the surge is being fueled by rising production from lighter, gas-rich fields and unconventional reserves.
The US, already the top NGL producer, will increase output from 6.9 mb/d in 2024 to 7.8 mb/d in 2030. Saudi Arabia is set to boost production from 1.4 mb/d to 2 mb/d over the same timeframe, while Canada will add 300,000 b/d.
This expanding supply is feeding demand for petrochemical feedstocks like ethane, propane and butane, vital in the production of everything from plastics to clean cooking fuel.
Ethane demand alone is expected to climb by 610,000 b/d to 5.2 mb/d by 2030, while LPG consumption is forecast to rise by 1.3 mb/d to 11.8 mb/d. Asia—led by China and India—will account for more than 65 percent of global LPG demand growth.
The rise of NGLs also poses a long-term challenge to traditional refining, as many of these products bypass refining altogether. With petrochemical demand outpacing that for transportation fuels, refiners may face margin pressure and shutdown risks, particularly in high-cost regions like Europe and parts of Asia.
Despite slower year-over-year growth, the IEA sees NGLs playing an increasingly vital role in shaping the future energy mix. This is supported by the 216 percent increase in production the NGL sector has seen over the past decade.
“From 2014 to 2024, global NGLs production grew by 4.3 mb/d to 13.6 mb/d. NGLs will rise by a further 2.0 mb/d to 15.5 mb/d in 2030, with average annual growth slowing to 2.3 percent over the forecast period, from 3.9 percent during the previous decade,” the report read.
Much of the IEA’s outlook falls inline with the short term price projections the US Energy Information Administration released in May, which forecast the average price for Brent crude to be US$66 in 2025 and US$59 in 2026. While natural gas prices will rise from an average US$4.10 in 2025 to US$4.80 in 2026.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
