By Ben Glickman
New Era Helium entered a nonbinding letter of intent to merge with Accretion Acquisition, a special purpose acquisition company.
New Era, which explores for and produces helium, said it owns more than 137,000 acres in New Mexico and has 2.5 billion cubic feet of proved, probable and possible helium reserves.
The companies said they expect to sign a definitive merger agreement in the fourth quarter and will announce additional details if a definitive deal is reached.
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