Company secures $285 per thousand cubic feet helium offtake deal and targets $80 million in 45Q carbon credits upfront capital.
Big Sky Industrial plans to launch Phase I in Q1 next year, producing helium and capturing 125,000 metric tons of carbon dioxide annually. The project is expected to generate $15 million in annual EBITDA from helium sales, enhanced oil recovery, and federal 45Q carbon credits.
The company has secured an eight-figure, five-year helium offtake agreement with 100% take-or-pay terms at $285 per thousand cubic feet. Phase I is financed with $17 million in equity and a $20 million debt facility. Big Sky also explores monetizing 45Q credits for up to $80 million in upfront capital.
Big Sky Industrial (NASDAQ:BSIN) operates a legacy Montana oil business producing 200-250 barrels per day, with a PV-10 value of $20 million. The shift toward helium and carbon capture reflects a strategic pivot from traditional oil and gas.