New TOH.v CEO interview: company facts + Helium Shortage 4.0 In a recent episode of 'The Dive', Robert Price, the Director and CEO of Total Helium (TSXV: TOH), discussed the impact of government policy changes on helium storage, resulting in a depletion of helium supply in both the United States and Canada. This development is identified as a significant contributing factor to the current "Helium Shortage 4.0".
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TOH is currently in the process of building a vital helium storage facility. With this, TOH strives to lead the advancement and operation of underground storage solutions for helium and hydrogen. In collaboration with a multinational industrial gas company, the company aims to establish an underground helium storage facility that will rival the successor to the U.S. Federal Helium Reserve. TOH will possess a 50% ownership stake in the facility and will also undertake its operational responsibilities.
Regarding its helium assets, the company holds a commanding position in the Hugoton helium field. This field has historically served as a prominent center for helium extraction within the country and possesses a remarkable reserve of over 300 billion cubic feet (BCF) of helium alongside 75 trillion cubic feet (TCF) of methane. TOH is taking the lead in an expansion endeavor within this region.
Recently, through a joint venture agreement, successfully acquired a stake in the Pinta South project, a rich source of natural gas abundant in helium. This strategic move has granted TOH a 20% interest in two currently productive wells, as well as an impressive 50% interest in eight additional pre-existing wells.
The Pinta South project stands out due to its remarkable helium concentrations, ranging from 5% to 8%. Additionally, the shallow-producing formation of the project provides a favorable environment for cost-effective drilling and completion operations.
For more detailed information about TOH and its portfolio of assets, please visit their website at https://www.totalhelium.com/ Posted on behalf of Total Helium Ltd.