TOTAL HELIUM ANNOUNCES FIRST SALES OF HELIUM AND METHANE
VANCOUVER, BC, March 15, 2022 /CNW/ - Total Helium Ltd. (TSXV: TOH), (OTCQB: TTLHF) ("Total Helium" or the "Company") announces the start of its first helium and methane sales and provides further updates on its operations at its project in western Kansas where it aims to extend the Hugoton Gas Field, the largest conventional onshore natural gas and helium field in North America.
Helium and Methane Sales Started from Miller 9D
Production well Miller 9D has been drilled and completed, including the submersible pump installation, and is connected to a sales pipeline.
During the dewatering process, the helium and methane amount has been steadily increasing from a beginning rate of 20 Mcfpd to its current rate of 300 Mcfpd. As the reservoir continues to dewater, the rate is expected to significantly increase in line with Total Helium's initial expectations and reservoir modelling.
Log analysis shows a total pay thickness of 143 feet with good porosity and permeability. Gas analysis from the well shows 0.58% helium and 61.01% methane concentrations alongside 3.09 gallons per mcf of natural gas liquids present in the gas stream. The produced helium and methane are currently being sold at advantageous prices, $212/Mcf for helium and current spot prices of $5.00+/Mcf for methane and $1.30+/gallon for propane.
First Operational Disposal Well: Miller 9C
Miller 9C has been drilled and completed. The well is operational and receiving produced water from the Miller 9D well.
Completion of Boltz 35B
The production testing for the well is being conducted in two stages. As part of the first stage, the experimental lower zone was stimulated first. Total Helium is now preparing the stimulation of original target upper zones, which are similar to the Miller 9D well. The production from all zones is expected in the upcoming month.
Acreage Update
Total Helium announces that it has acquired close to ~30,000 additional acres in western Kansas at its project area. The total acreage amount for Total Helium's lease position now equals ~115,000 acres. Total Helium expects to be able to drill and produce up to 180 wells on its acreage holding based on one well every 640 acres, with the possibility for additional infill wells.
Total Helium is a helium exploration, production and storage solutions company which is drilling and producing its first wells in western Kansas where it plans to extend the largest continuous conventional natural gas and helium field in North America, the Hugoton Gas Field. The Company is also establishing underground helium storage facility with its industrial gas partner nearby existing North American helium infrastructure.
On behalf of the Board,
Robert B Price, Director and CEO
Total Helium Ltd. - www.totalhelium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward– looking statements". Forward–looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward–looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward–looking statements.
SOURCE Total Helium Ltd
contact 604.609.6110
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