Blue Star Helium Limited
Climate Impact & Sustainability Data (2018, 2022)
Reporting Period: 2018
Environmental Metrics
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
Social Achievements
- Appointed Mr Peter Kondrat as Chief Operating Officer (COO) of its US helium business.
- Appointed Mr Scott Fenoglio as Chief Financial Officer (CFO).
Climate Goals & Targets
Short-term Goals:
- First helium production and sales for H2 CY2023 at Voyager project.
Environmental Challenges
- High risk activities in drilling and producing helium with many uncertainties.
- Inconclusive geophysical and geological analysis and engineering studies.
- Complex process of estimating helium resources with assumptions that may differ from actual results.
- Uncertain cost to drill, complete and operate wells leading to budget overruns.
- Increases in cost of goods, services, and personnel due to inflationary pressures.
- Limited production data in the area of operations.
- Dependence on third parties for drilling, completion, production, construction, equipment, and regulatory approvals.
- Exposure to health, safety, and environmental laws and regulations.
- Opaque helium market pricing with risk of significant price differences from assumptions.
- Changes in supply/demand balance affecting helium prices.
- Competitive labor market in Colorado.
Mitigation Strategies
- Engaged independent geological and engineering consultant, Sproule, for resource assessment.
- Developed a mid-stream solution for Voyager project to minimize upfront capital commitments.
- Actively monitoring the impact of COVID-19 on operations.