Quantum Helium (QHE ) produced 11,769 barrels in 2025 from its 90%-owned Sagebrush project in Colorado.
The production delivered gross oil sales revenue in 2025 of US$617,044 at an average oil price of US$52.20 per barrel.
Net sales revenue amounted to approximately US$409,000, after allowing for royalties but before lease operating costs.
Ongoing oil sales from multiple wells continue to generate revenue to support Quantum’s helium exploration and development programmes.
Meanwhile, the recently completed 3D seismic survey at Sagebrush has significantly improved subsurface understanding and identified additional structural features prospective for hydrocarbons.
These targets represent potential future drilling opportunities which could support further growth in oil production over time, complementing the company's helium-focused development strategy.
"Our 2025 oil production from Sagebrush highlights an important and often underappreciated part of the Quantum story,” said Howard McLaughlin, chief executive of Quantum Helium.
“While our primary focus is on unlocking the significant helium potential across our portfolio, the existing oil production provides us with a valuable source of revenue that helps to support our ongoing operations and helps fund our development activities. Production has continued in line with expectations into 2026, and with oil prices strengthening in response to global geopolitical developments, this part of the business becomes increasingly valuable. It reinforces our strategy of combining helium exploration with hydrocarbon production to create a more resilient and self-sustaining business model as we move towards the extended production test at Sagebrush-1 and the next phase of growth."
View from Vox
Oil production forms a key component of Quantum's self-funding development strategy, with the company retaining oil prospectivity across its asset base. What’s more, oil and gas prices have strengthened significantly in recent weeks, and since Quantum’s production remains unhedged it’s well positioned to benefit from this upside. Watch for more news on helium in due course.