total helium ltd ttlhf a helium exploration and production company has completed the acquisition of a joint venture agreement for a helium field the purchase agreement was made in january 2023 and subsequently amended from all cash to include shares as part of the agreement the agreement was for a stake in the pinta south project a heliumrich natural gas field in the holbrook basin arizona the joint venture jv agreement was entered into by brooks range corporation a whollyowned subsidiary of total helium and its new partners pinta south operating company llc butler minerals i llc and mid america exploration llc the jv gives total helium a 20 interest in two currently producing wells plus a 50 interest in eight additional existing wells the purchase price is 12 million and with the update to the venture total helium paid 8 million in cash and provided just under 11 million common shares at the deemed value of 050 per share by paying for the deal with stock as well as cash total helium has ensured all the jv partners are incentivized to see the success of the project and to increase shareholder value the pinta south project has a very high helium concentration of 58 and the shallowproducing formation is ideal for lowercost drilling and completion the company has plans to have 20 operational wells by the end of the first half of 2023 total helium satisfied the cash portion of the agreement as well as the costs for developing the project with a brokered private placement in connection with the completion of the offering it issued 25 million special warrants to raise gross proceeds of 125 million the agreement comes at a time of sustained demand for helium the industry was worth 44 billion globally in 2022 and is predicted to reach 5 billion in 2023 representing a compound annual growth rate cagr of over 12 nonrenewable gas is essential for the technology industrial and medical device sectors with uses ranging from semiconductors and rockets to fiber optics and magnetic resonance imaging mri devices as the us government’s reserves of helium get depleted total helium looks to be positioning itself to be a leading domestic supplier of the gas the pinta south venture will play an important role in the company’s production of a stable helium supply and all the jv partners have a stake in securing the project’s development “total helium is thrilled to announce this joint venture” said total helium ceo robert b price “it is my belief that this joint venture will create significant value for our shareholders for many years to come” other helium exploration and production companies include desert mountain energy corp dmehf and air products  chemicals inc apd visit its website to learn more about total helium this post contains sponsored advertising content this content is for informational purposes only and is not intended to be investing advice