A Midland-based energy company focused on extracting helium from natural gas reserves in the Permian Basin has announced results in its annual report filed with the Securities and Exchange Commission (SEC).
According to a news release, the report by New Era Helium, Inc. provides a comprehensive update on its operational progress and development strategy. The construction timeline for the company’s Pecos Slope Plant has been extended due to ongoing negotiations and delays in securing project financing during the de-SPAC process.
New Era Helium notes that a recent change in ownership and management with its Pecos Slope Field midstream gatherer and processor has resulted in ongoing discussions. The plant is now expected to be completed by the fourth quarter of 2025, and the company anticipates securing financing for the project within the next three months.
The news release also states that New Era Helium and Texas Critical Data Centers, LLC have formed a joint venture to purchase 200 acres in Ector County, Texas. This acquisition aims to develop a 250-megawatt net-zero artificial intelligence and high-performance computing data center. New Era Helium believes that its helium and natural gas reserves will support AI, semiconductor manufacturing, and next-generation computing. The data center is intended to diversify revenue sources beyond traditional commodity-based sales as part of an integrated energy solutions strategy.
E. Will Gray II, CEO of New Era Helium, said that the company is at a pivotal stage with its helium production plans, and its energy infrastructure strategy is beginning to converge. "We remain focused on hitting key production milestones while building a resilient business capable of meeting the energy needs of today with the infrastructure and scale to support the accelerating demands of tomorrow," he said. Gray added, "Although we remain optimistic about ongoing conversations with our midstream gatherer and processor, there is no assurance the outcome will result in an economically viable solution that aligns with the interests of both the company and its shareholders."