Canadian oilpatch hopes float on Prairie helium drilling prospects GlobeBusiness
Demand for the gas once used mainly for military, weather and party balloons has been steadily rising, creating shortages and spiking prices in recent years.
“It’s still a lot of rank exploration right now,” she said, adding no one knows how much helium – produced by the decay of radioactive uranium and thorium – the province contains. The company has plans to produce helium in Alberta as well and is considering eventually building a liquefaction facility there to supercool the gas to liquid form so it can be shipped in high-pressure tanks anywhere in the world, Weil CEO Jeff Vogt said.
The extremely high pressure in reservoirs deeper than two kilometres under the surface means wells can be productive for years before being depleted, said Mundle, outlasting shallower pools elsewhere in the world.
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