HyTerra Ltd (ASX:HYT) and farm-in partner Natural Hydrogen Energy LLC are finalising plans for an extended flow test of the Hoarty NE3 natural hydrogen exploration well at Project Geneva in Nebraska, US.
The test – which will measure hydrogen production potential and key parameters of gas composition, pressure and flow rate – is scheduled to begin in February.
Service providers are now preparing to mobilise the rig and supporting equipment to the well site, where HyTerra’s company representative will monitor the operation and provide further updates next month.
About HyTerra and natural hydrogen
HyTerra is an Australian-based company focused on the exploration and production of natural hydrogen.
Natural hydrogen is produced through organically occurring processes in the subsurface of the earth.
The renewable energy and decarbonisation revolution rapidly changed hydrogen’s commerciality, positioning it as one of the few environmentally friendly fuels with the potential to replace hydrocarbons.
Grand View Research estimates the global hydrogen generation market was valued at US$128.85 billion in 2021, with a healthy compounding annual growth rate (CAGR) of 6.4% through 2030.
HyTerra holds an interest (with the right to earn up to 51%) in a joint development agreement with Natural Hydrogen Energy LLC to advance the Geneva Project.
The joint venture’s assets include the world’s first wildcat well specifically targeting natural hydrogen (Hoarty NE3) as well as 3,891 acres of exploration leases across Nebraska and South Carolina.
HyTerra is targeting 2024 for production, a schedule that would position the company as a global leader in natural hydrogen and the broader renewable hydrogen sector.