Ascent Resources PLC Update on US gas and helium investment

RNS Number : 8877N

Ascent Resources PLC

10 May 2024

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

10 May 2024

Ascent Resources plc

("Ascent" or the "Company")

                                           Update on US gas and helium investment                      

Ascent Resources Plc (LON: AST) is pleased to announce, further to its investment into GNG Partners LLC (as announced 23 April) which owns the 60MMscfd Lisbon Valley gas and helium processing plant in Utah USA, that GNG have provided the Company with an operational update following their first full month of ownership of the operating business units. GNG have conducted an extensive review of the status of the plant, which is overall in good working condition. GNG are also doing basic plant maintenance and improvements which includes restoration of the helium purification system which is expected to be returned to service within 6-8 weeks, following which the plant is expected to immediately resume sales of gaseous helium.

GNG have also advised Ascent that the Lisbon Valley plant is now on track to have the 550Mscfd helium liquidation unit recommissioned and in operational working order by the end of this calendar year.

The Company looks forward to providing further updates on its investment in US onshore gas and helium processing in due course.

 

Enquiries:

Ascent Resources plc Andrew Dennan	Via Vigo Communications
WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather	0207 220 1666
Novum Securities, Joint Broker Jon Belliss	0207 399 9400

 

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