Total Helium has entered into a definite purchase and sale agreement for a joint venture in the Pinta South Helium Project in Arizona.
The agreement is between US helium producers Brooks Range Corporation, Butler Minerals and Mid America Exploration and allows for the acquisition of an interest in existing helium production and a large-scale helium exploration and production programme in the Holbrook Basin.
As part of the joint venture, Total Helium will acquire a 20% interest in two producing wells with an average daily gross gas production of 264 million cubic feet per day and helium concentrations greater than 8%.
Total Helium will also acquire a 50% interest in eight additional existing wells which are being connected to a helium processing plant.
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