Helium is a crucial element used in various applications, including medical devices like MRI machines. The article below highlights the potential consequences of the helium shortage, such as delayed medical diagnoses and treatments. It also emphasizes First Helium's position as a leading player in the helium market due to its large helium-rich well and promising projects.
https://streetsignals.com/first-helium-inc/heli-1/global-helium-shortage/lp-g1
However, it could be argued that Total Helium Ltd. (ticker: TOH.v) is in an even better position to address the helium shortage, as it is already producing helium in North America and has plans to ramp up production.
TOH has achieved significant progress by successfully drilling 19 wells at the Pinta South Helium Field in Arizona's Holbrook Basin. Nine of these wells are already connected to a 6-mile pipeline and producing helium, while the remaining ten wells are at various stages of pipeline connection.
Two of the wells already linked to the pipeline have displayed impressive productivity, consistently delivering between 232 Mcf/d, with helium concentrations ranging from 7.58% to 7.83%.
Furthermore, during the testing of three additional wells, the total production reached 450 Mcf/d, aligning seamlessly with TOH's initial expectations.
In recent news, TOH announced the appointment of Robert Johnston as interim Chief Executive Officer. His extensive experience in the oil and gas industry, gained through roles at companies like Atalaya Resources, LLC, and Apache Corporation, positions him well to lead TOH through this exciting phase of growth.
TOH also revealed that it has secured a special concession from Butler Minerals 1 LLC, the project operator of Pinta South. This concession involves the drilling of the next five wells in the project's Shinarump formation, covering drilling expenses but excluding completion work and pipeline construction.
The drilling of the first of the five carry wells is expected to commence by mid-December, subject to drilling permits.
Moreover, TOH is actively pursuing additional completion activities, including the acidizing of two of their wells. This strategic approach aims to boost production rates by enhancing connectivity from the boreholes to the reservoir.
Full news here: https://www.totalhelium.com/cool_timeline/total-helium-announces-management-change-and-special-concession/
Posted on behalf of Total Helium Ltd.