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Helix Exploration PLC on Friday said it has resolved an issue with the variable speed drive at its flagship Rudyard project in northern Montana, US. The London-based helium explorer said during the final stages of commissioning, a minor technical issue was identified with the variable speed drive, which temporarily delayed the start of helium production. The firm said the issue has now been resolved, and the variable speed drive is ‘operating seamlessly’. Helix said it plans to provide a further update to the market regarding its production milestone and a broader operational update next week. It added that it will evaluate potential offtake arrangements with a focus on securing the most attractive terms to maximise shareholder value. ‘Our team has worked tirelessly, and thanks to their dedication and expertise, we are now closer than ever to achieving a significant milestone - becoming the first helium producer in the state of the Montana,’ said Chief Executive Officer Bo Sears. ‘The board remains confident in the tremendous potential of the Rudyard project and is excited to take this important step towards production, creating value for our shareholders while contributing to the global helium market.’ Shares in Helix Exploration were up 6.5% at 26.10 pence on Friday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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