A 14-Square-Kilometre Hydrogen Target Takes Shape as Helium Prices Double

Max Power Mining taps GLJ to assess Saskatchewan natural hydrogen system; 3D seismic reveals 14.2 sq km structure. Helium prices double after Qatar drone strike, boosting project economics.

Max Power Mining is accelerating its transition from explorer to potential producer, tapping Calgary-based energy consultancy GLJ Ltd. to assess the commercial viability of its natural hydrogen system in Saskatchewan. The move comes as newly processed 3D seismic data reveals a geological structure spanning roughly 14.2 square kilometres within the broader 28-square-kilometre Lawson Complex — a finding that has sharply raised expectations for what could become Canada’s first confirmed natural hydrogen development.

GLJ, a heavyweight in reservoir evaluation, will model resource characteristics, estimate flow rates, and refine the drilling strategy. The consultancy is also helping to optimise the company’s proprietary MAXX LEMI artificial intelligence platform, which integrates seismic models with drilling data to pinpoint future discoveries. A confirmation well at the highest point of the Lawson structure is pencilled in for mid-2026, with the funds already secured.

Max Power recently closed a 20.5 million Canadian dollar financing round, earmarked for that follow-up well, additional seismic acquisition, and testing at the Bracken project. The company is also advancing work at its Grasslands property, where core samples from the Bracken well have delivered average helium concentrations of 4.4 percent, with peak readings hitting 8.7 percent. Completion and testing there are slated for the second quarter of 2026.

The helium angle has gained sudden urgency. A drone strike on Qatar’s Ras Laffan facility in March 2026 knocked out roughly 30 percent of global helium supply. According to Fitch Ratings, the North American reference price has since nearly doubled to around 69 US dollars per thousand cubic feet, and repairs are expected to take years. That supply shock has transformed what was once a by-product into a potential profit driver for the Lawson project.

Timing is also working in Max Power’s favour on the demand side. Bell Canada is planning a 300-megawatt data centre complex near the Genesis trend, with construction set to begin this spring and operations expected to start in the first half of 2027. The facility will require reliable, low-carbon energy — a profile that natural hydrogen and helium production could help satisfy.

The stock has surged roughly 129 percent since the start of the year, recently trading at 0.89 euros, about 10 percent below its 52-week high from March. Canadian markets were closed on 1 May for the holiday, and trading resumes on Monday. Investors will be watching closely for the first resource models from GLJ, which will provide the clearest picture yet of whether the Lawson structure can support commercial-scale production.