The demand for helium is experiencing steady growth, with the market value reaching $4.4 billion in 2022 and projected to reach $6.4 billion by 2027. This surge in demand is primarily fueled by advancements in sectors such as semiconductors, fibre optics, aeronautics, and medical devices. Notably, hospitals, as the largest end-users, accounted for about a third of the global helium market.
Total Helium (Ticker: TOH.v or TTLHF for US investors) has made strategic investments in the Pinta South project, which is a natural gas field with a substantial concentration of helium. Presently, TOH holds a 20% interest in two producing wells and a 50% interest in eight additional existing wells.
The Pinta South project is of great value due to its helium concentrations ranging from 5% to 8%. The shallow-producing formation of the project provides favourable conditions for cost-effective drilling and completion processes.
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Recently, TOH provided an operational update on the Pinta South Project. Notably, pipeline construction is already in progress, and five wells have been successfully connected to the processing facility. Moreover, three new wells have been drilled and are awaiting completion.
To optimize drilling locations and maximize production rates, TOH is conducting a soil gas survey from mid-May to early June 2023. For further details, please refer to the full operational update available at: https://www.totalhelium.com/cool_timeline/total-helium-provides-operational-update-on-pinta-south-project/ Posted on behalf of Total Helium Ltd.