Key Highlights - - The global demand for helium exceeds current production rates. - Helium is essential for its uses in the medical research, semiconductor.
Demand for helium has grown rapidly in recent years, which has spurred increased exploration and development activities in Canada. Helium is listed on the Government of Canada s critical minerals list, which identifies 31 minerals and metals considered essential for the sustainable economic success of Canada and its trading partners.
Two recent insolvencies have resulted in the number of orphaned wells and facilities in Saskatchewan ballooning to over 4000. To reduce the burden on the Saskatchewan orphan fund, the Oil and Gas Tenure Registry Regulations have recently been amended to authorize the Administrator of Oil and Gas Tenure in the Lands and Mineral Tenure Branch of the Ministry the Administrator to assign or convey a lease that is currently held by a holder that is insolvent, bankrupt, defunct or cannot be located.