TOH.v Reports Advances at Pinta South Recent developments have brought to light the pivotal role that helium plays in various high-tech industries. Many are calling for the suspension of the sale of the Federal Helium Reserve System (FHR) as they have concerns about potential disruptions to the U.S. helium supply chain. Said disruptions could affect key sectors such as healthcare, semiconductor manufacturing, defense, and aerospace are in the spotlight.
Source: https://www.gasworld.com/story/cga-and-other-industry-associations-call-on-the-white-house-to-halt-sale-of-the-federal-helium-reserve-system/2129180.article/
In pursuit of helping to secure a stable domestic helium in the US, Total Helium Ltd. (TOH.v or TTLHF for US investors) has been actively advancing its operations in Arizona's Holbrook Basin.
Yesterday, TOH provided a promising update, indicating significant progress in its flagship Pinta South Project. The company has successfully drilled 19 wells, with nine now connected to a 6-mile pipeline. The remaining 10 are in various phases of pipe-line hook up.
The helium produced from the first 10 wells at the field will be sold to a prominent industrial gas company, while the remaining wells will be sold on the spot market.
Two of the connected wells have demonstrated impressive productivity, consistently yielding between 232 Mcf/d with helium concentrations ranging from 7.58% to 7.83%. During the initial testing phase of three additional wells, the total production surged to 450 Mcf/d, aligning with TOH's expectations.
TOH is optimistic about further enhancing production rates by drilling sand channel wells and deeper wells. Their geological and engineering team has identified promising drilling locations and is actively pursuing 28 additional drilling permits.
The company anticipates approval for 12 permits on privately owned lands within the next 30 days, and an additional 16 permits on State-owned lands within the following 60 days. Based on their prior experience with the permitting process in Arizona, they anticipate a smooth permit acquisition process.
Looking ahead, the drilling rig is scheduled to return to the field in mid-November. Previous drilling and completion operations were executed on time and within budget, aligning with the company's projected cost of US$220,000 per well.
Insights gained from earlier wells have provided a comprehensive understanding of optimal completion techniques for production from the project's Shinarump formation. These insights include the use of larger casing diameters to accommodate increased helium flow, which will be implemented in the upcoming drilling program.
Full press release here: https://www.totalhelium.com/cool_timeline/total-helium-announces-operational-update-at-pinta-south/
Posted on behalf of Total Helium Ltd.