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Press release content from Business Wire. The AP news staff was not involved in its creation. Tumbleweed Midstream Announces New 10-Year Helium Sales Agreement February 2, 2021 GMT CHEYENNE WELLS, Colo. (BUSINESS WIRE) Feb 2, 2021 Tumbleweed Midstream, LLC (“Tumbleweed”) announced today it has executed a new 10-year helium sales agreement with a global tier one helium supplier. The new contract delivers a top-rated global customer for Tumbleweed’s Ladder Creek plant’s helium production capacity and provides the customer a steady supply of helium through December 31, 2030. ADVERTISEMENT Specific terms of the agreement are undisclosed, however Tumbleweed estimates the value of the overall contract could exceed $500 million. Final contract value will depend on the volume of helium produced by the Ladder Creek plant and delivered between now and year-end 2030. ....
Source: Tumbleweed Midstream Ladder Creek The new take-or-pay agreement locks in the customer for Colorado, US-based Tumbleweed’s helium production until the end of 2030. Specific terms of the agreement are undisclosed, but Tumbleweed estimates the value of the overall contract could exceed $500m according to a statement from the company. Final contract value will depend on the volume of helium produced by the Ladder Creek plant and delivered between now and year-end 2030. “We are extremely pleased to be able to announce a new long-term contract with one of the world’s top tier suppliers of helium to global markets,” said Tumbleweed Midstream Founder and CEO Durell Johnson. ....
Thu, 12/17/2020 - 04:00 PM Every once in a while, what’s old becomes new again. It only takes someone to champion it and nurse it back to good health, even when the odds seem stacked against it. Durell Johnson, CEO of Tumbleweed Midstream, saw the chance to rekindle the magic of a long ago business when he and a group of private investors bought the Ladder Creek Helium Plant and Gathering system from DCP Midstream a year ago. Six months later, despite a bleak market and in the midst of the COVID-19 pandemic, Tumbleweed reported it had quadrupled helium production at the plant near Cheyenne Wells, Colo., just west of the Kansas border. ....