Helium, known for its vital role in scientific research, medical technology, manufacturing, space exploration, and national defense, possesses a unique status in the world of elements. It's chemically inert and irreplaceable in many applications, making its reliable supply crucial. Because of its importance in so many critical fields, Total Helium Ltd. (TOH) is making significant strides in ensuring a stable domestic helium supply in the United States.
TOH has successfully drilled 19 wells at its Pinta South Helium Field located in Arizona's Holbrook Basin Nine of the wells are already linked to a 6-mile pipeline. The remaining ten wells are in various stages of pipeline connection, indicating substantial progress towards operational efficiency.
Two of the wells already connected to the pipeline have demonstrated impressive productivity, consistently delivering between 232 Mcf/d, with helium concentrations ranging from 7.58% to 7.83%. Furthermore, during testing of three additional wells, the total production reached 450 Mcf/d, aligning seamlessly with TOH's initial expectations.
Today, TOH announced that it has appointed Robert Johnston as interim Chief Executive Officer as he has extensive experience in the oil and gas industry and is a valuable addition to the team. His proven track record with companies like Atalaya Resources, LLC, and Apache Corporation positions him well to guide TOH through this exciting phase of growth.
TOH also announced 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. This concession, while covering drilling expenses, excludes completion work and pipeline construction.
Drilling the first of the five carry wells is expected to commence by mid-December, subject to drilling permits.
Furthermore, TOH is actively pursuing additional completion activities, including acidizing two of their wells. This strategy aims to enhance production rates by improving connectivity from the boreholes to the reservoir.
In summary, Total Helium Ltd. (TOH) is making strides in securing a stable domestic helium supply in the United States. Their dedication to efficiency, commitment to expanding operations, and the recent appointment of a seasoned leader all bode well for the future of this essential endeavor.
Full news here: https://www.totalhelium.com/cool_timeline/total-helium-announces-management-change-and-special-concession/
Posted on behalf of Total Helium Ltd.