Helium, despite being the second most abundant element, can only be economically extracted from subsurface gas reservoirs. With the hydrogen economy emerging and the withdrawal of the sole operational underground helium storage facility, there are new challenges in global industrial markets.
Total Helium (Ticker: TOH.v or TTLHF for US investors) aims to address these challenges by leading the development and operation of underground storage solutions for helium and hydrogen. Through a partnership with a multinational industrial gas company, TOH plans to establish an underground helium storage facility that will rival the U.S. Federal Helium Reserve's successor. TOH will own 50% of the facility and operate it.
In addition to their storage solutions, TOH has acquired a stake in the Pinta South project, a natural gas field rich in helium. They now hold a 20% interest in two producing wells and a 50% interest in eight additional existing wells.
The Pinta South project is highly valuable due to its helium concentrations ranging from 5% to 8%. The shallow-producing formation of the project provides favorable conditions for cost-effective drilling and completion processes.
Recently, TOH provided an operational update on the Pinta South Project. Pipeline construction is underway, and five wells are already connected to the processing facility. Furthermore, three new wells have been drilled and await completion.
To optimize drilling locations and enhance production rates, TOH is conducting a soil gas survey from mid-May to early June 2023. Read the full update here: https://www.totalhelium.com/cool_timeline/total-helium-provides-operational-update-on-pinta-south-project/ Posted on behalf of Total Helium Ltd.