Canadian company moves helium plant from Arizona site to New Mexico gas field
Aug 26, 2023, 6:30 AM
Desert Mountain Energy Corp. (TSXV: DME) acquired the West Pecos Slope Abo Gas Field in Chavez County in a deal worth around $2.5 million in total. (Evgeny Bashta Photo)
(Evgeny Bashta Photo)
A Canadian company announced last week it’s moved a helium processing operation from Arizona to a gas field in New Mexico’s Permian Basin just over a month after buying the field for over $2 million.
Desert Mountain Energy Corp. (TSX: DME), headquartered in Vancouver, Canada, closed an approximately $2.5 million deal to acquire the West Pecos Slope Abo Gas Field in Chavez County on July 6.
It took over operations at the 77,500-acre field upon the purchase, according to a release from the company.
Just over a month later, Desert Mountain said it had fully disassembled its McCauley Helium Processing Facility near Holbrook, Arizona, and moved the components to the New Mexico field.
Reassembling the facility could take up to six weeks, and the company expects the plant to start up after pressure testing is completed, according to an Aug. 16 news release.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
