TOH.v's Phase 2 Drilling Plans to Boost Helium Production The Helium Gas Market is poised for significant growth between now and 2030. This growth can be largely attributed to the increasing demand for portable and versatile devices powered by helium gas.
Source: https://www.linkedin.com/pulse/helium-gas-market-2023-industry-size-statistics
Yet, a pressing concern has emerged due to ongoing and substantial helium supply shortages. This raises questions about whether the supply can meet the surging demand.
Amid this backdrop, companies actively engaged in expanding their helium production, such as Total Helium (TOH.v or TTLHF for US investors), play a pivotal role in meeting the escalating demand.
TOH holds a 50% stake in the strategically situated Pinta South Helium Project within Arizona's Holbrook Basin. Spanning an extensive 27,000 acres, the Pinta South field presents numerous opportunities for cost-effective expansion.
At present, the project comprises nine operational helium wells, with an additional ten wells in various stages of development. The integration of these newly developed wells into the production network is expected to result in a significant increase in helium production and, subsequently, a boost in revenue.
Initial well results have shown helium concentrations of 8.11% and 8.22%, a substantial improvement compared to the typical concentration of 0.5%.
TOH is planning to commence phase 2 drilling at the project in the first quarter of the upcoming year, which will add 30 additional wells for which it has secured permits.
All in all, the project has the potential to accommodate 300 wells at an average cost of just $220,000 per well.
More here: https://www.totalhelium.com/
Posted on behalf of Total Helium Ltd.