Creditors protection process extended for Royal Helium

By Medicine Hat News on May 28, 2025.

@MedicineHatNews

A court-creditors protection process for Royal Helium has been extended until late June as officials work on a plan of arrangement for the exploration company that has a production facility north of Brooks.

That includes evaluating proposals from companies bidding to acquire the Steveville helium processing plant in Newell County and 564,000 acres of development rights in Alberta and Saskatchewan.

Royal and subsidiary Imperial Helium entered court-creditors protection in late January, citing cash-flow problems caused by difficulties in commissioning the production plant.

An approved sales process was scheduled to end May 9.

A report from court-appointed monitor Alvarez and Marshall stated that nine initial bids were received and seven would proceed to a second phase, where four formal were received.

Canada Western Bank and the Business Development Bank of Canada are each owed about $8.7 million. Creditors are owed a total of $22.5 million.

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