Big Sky Carbon Hub
A 100%-owned, 100%-operated industrial gas development in Northwest Montana, sitting atop the Kevin Dome, one of the largest gas-bearing geologic structures in the Western United States.
THE GEOLOGY
One structure. One stream. Two valuable gases.
The Big Sky Carbon Hub sits on the Kevin Dome, a large gas-bearing structure in Toole County, Montana. A single low-cost, high-rate gas stream yields helium for critical end markets and CO₂ that is managed under Section 45Q and used for oil recovery.
The geology beneath the resource is also well suited to the permanent sequestration of CO₂.
BY THE NUMBERS
The operating specifications.
The headline resource – 1.3 Bcf of helium and 444 Bcf of CO₂ across 110,000 acres – is summarized on the home page. Below is the operating detail behind it: what Phase 1 is built to produce, and the oil field that supplies the CO₂-EOR stream.
BIG SKY CARBON HUB - PHASE 1
~8 MMcf/d
Processing inlet capacity
~14.4 MMcf/yr
Contracted helium volume
~125k MT/yr
Refined CO₂
CUT BANK FIELD - THE CO₂-EOR OUTPUT
970 MBO
Oil reserves
~240 BOPD
Current production
170+
Permitted Class II injection wells
BUILT TO SCALE
Phase 1 today. The footprint for much more.
The current build is Phase 1. Because the land, permits, engineering, and field operations are already in place, the next plant can be added on the same footprint at meaningfully lower incremental capital per unit.
PHASE 1 - UNDER CONSTRUCTION
First revenue targeted Q1 2027
- ~8 MMcf/d processing inlet capacity
- Up to ~1.2MMcf/month (=14.4MMcf/year) of contracted helium
- ~125,000 metric tons of refined CO₂ per year
- Final investment decision reached; fixed-scope EPC contract signed; capital stack complete
PHASE 2 - THE SCALING STEP
2-3x capacity on the same footprint
- a second processing plant leveraging the same infrastructure and field operations
- Supported by existing acreage, permitted wells, and the same resource – no new land
- Final investment decision targeted in 2027
Phase 2 is excluded from the Company’s current base-case financial model.
A DIFFERENT KIND OF CCUS
Our CO₂ is a byproduct - not a cost.
Among the roughly 20 operational carbon-capture projects in the United States, Big Sky Industrial is unusual. Most projects capture CO₂ from an energy-intensive source. Ours is produced as a byproduct of helium extraction – with no combustion and no separate capture step.
- Not from natural-gas processing
- Not from ethanol fermentation or ammonia
- Not from power generation
- Not from energy-intensive direct air capture
- OUR SOURCE
A byproduct of helium extraction
No combustion. No fermentation. No energy-intensive capture. The result is a structural cost advantage that very few projects in the world can claim – and a carbon management stream that is largely independent of commodity prices.
LOCATION & MARKET ACCESS
Positioned for the markets that matter.
The Big Sky Carbon Hub and the Cut Bank field sit near Shelby, Montana, with established rail and highway access – providing routes to West Coast and other markets without the logistics bottlenecks that constrain many remote energy projects.
Rail
- Rail access via the Port of Northern Montana in Shelby and BNSF network.
Highway
- Direct access to Interstate 15 and U.S. Route 2 for reliable trucking corridors.
Adjacent oil field
- The wholly owned Cut Bank field sits next to the Hub – the captive outlet for our CO₂.
MILESTONES
From first transaction to first sales.
- Q1 2022 | Acquired the Cut Bank oil field - a long-life, low-decline asset with 170+ permitted Class II injection wells.
- Q2 2024 | Acquired initial Big Sky Carbon Hub acreage across the Kevin Dome structure.
- 2024-25 | Drilled CO₂ and production wells and filed two MRV applications with the EPA.
- Q1 2026 | Final investment decision reached on the Phase 1 processing facility; fixed-scope EPC contract signed.
- Q2 2026 | Phase 1 capital stack completed and a five-year take-or-pay helium offtake signed.
- Summer 2026 | EPA approvals of the two MRV applications anticipated.
- 2H 2026 | Gathering pipeline and facilities installation; plant commissioning.
- Q1 2027 | First helium sales and the launch of carbon management operations.
One asset. Three businesses.
See how the Big Sky Carbon Hub turns a single gas stream into three independent revenue streams.
Frequently asked questions
What is carbon capture?
Carbon capture is the process of capturing carbon dioxide emissions from industrial facilities before they enter the atmosphere. The captured CO₂ can then be transported for permanent geological storage or beneficial use.
What is carbon sequestration?
Carbon sequestration refers to the long-term storage of carbon dioxide deep underground in suitable geological formations, helping reduce atmospheric emissions.
What does CCUS stand for?
CCUS stands for Carbon Capture, Utilization and Storage. It describes technologies that capture carbon dioxide, use it in industrial applications where appropriate, or permanently store it underground.
How does geological carbon storage work?
Carbon dioxide is compressed and injected into carefully selected underground rock formations where it can remain securely stored over long periods, subject to regulatory oversight and monitoring.
Why is carbon management important?
Carbon management helps industries reduce emissions while supporting economic activity. It is one of several approaches being explored to help meet emissions reduction goals in hard-to-abate sectors.
What is a carbon hub?
A carbon hub is shared infrastructure that gathers, transports, and stores carbon dioxide from multiple industrial sources, enabling economies of scale and broader access to carbon management solutions.
What is Section 45Q?
Section 45Q is a U.S. federal tax incentive designed to encourage investment in qualifying carbon capture and storage projects by providing tax credits for eligible captured and securely stored carbon dioxide.