Total Helium has entered in an agreement to sell 25% of its 3,648 acres of land near the Boltz Well in the Hugoton Gas Field of Kansas to a leading natural gas producer based in the US state.

News of the sale follows Total Helium previously signing a farmout agreement with the natural gas producer, believed to be the largest in Kansas, to drill the Boltz well on the producer’s oil, gas and helium leases.

The agreement established an area of mutual interest near the Botlz Well, where Total Helium successfully acquire acreage and, as part of the deal, the undisclosed producer was granted the right to purchase 25% of Total Helium’s leases within the area.

Robert Price, CEO of Total Helium, said, “At Total Helium, our ability to work with some of the world’s leading oil and gas and industrial gas companies is something that we pride ourselves on.”

“We place a tremendous amount of value on these strategic relationships and today’s announcement reinforces the fact that our partnerships are mutually beneficial.”

The producer’s decision to purchase Total Helium’s leases represents a positive indicator for both companies. For Total Helium, the purchase signifies that it is on the right track when it comes to helium exploration and production.