TOH on Helium's Importance in Oil & Gas Sector As discussed in the Total Helium Ltd. (TOH.v or TTLHF for US investors) CEO interview below, helium holds significant importance across a range of applications, including scientific research, medical technology, manufacturing, space exploration, national defence and in the oil and gas industry.
Robert Price, the CEO of TOH, also delves into the company's helium extraction operations and their commitment to delivering a consistent supply while optimizing cost efficiency and risk mitigation. He underscores TOH's unique proposition, providing oil and gas firms the chance to secure a steady helium supply by leveraging their expertise and strategic partnerships, ultimately benefiting a wide array of industries.
Specializing in helium exploration, production, and storage for American high-tech industries, TOH is focused on securing a robust helium source.TOH is actively expanding its operations at its Pinta South Project in Arizona's Holbrook Basin to ensure a stable domestic helium supply in the United States.
TOH's Pinta South Project has demonstrated rapid production capabilities and significant expansion potential. TOH.v has solidified key partnerships with Linde, a major industrial gas and chemicals manufacturer, securing both drilling funding and an off-sale agreement for the initial 10 wells on the project.
As of now, TOH has successfully drilled 19 wells at Pinta South, with nine of them connected to a 6-mile pipeline. Two of these connected wells have consistently exhibited high productivity, yielding between 232 Mcf/d with helium concentrations ranging from 7.58% to 7.83%. During the testing of three additional wells, production surged to 450 Mcf/d, aligning with TOH's expectations.
TOH's future plans involve boosting production rates by drilling sand channel wells and deeper wells, focusing on obtaining 28 additional drilling permits. They anticipate receiving approval for 12 permits within the next month and an additional 16 permits within the subsequent two months.
The drill rig is slated to recommence field operations in mid-November, with expenditure expected to stay in line with the projected cost of US$220,000 per well.
More info here: https://www.totalhelium.com/cool_timeline/total-helium-announces-operational-update-at-pinta-south/
Posted on behalf of Total Helium Ltd.