Pantheon Resources Makes Alaska North Slope Discovery

London-based Pantheon Resources PLC has made a discovery of potentially 1.8 billion barrels in Alaska’s North Slope region, based on online reports. The deposit is along the Dalton Highway and Trans-Alaska Pipeline System corridor, according to The Alaska Journal of Commerce.
The discovery was made after the company made an updated evaluation of an old exploration well and used information collected from recent nearby drilling, the Journal reported; management added that the Talitha prospect could be the latest in a series of significant North Slope oil discoveries within the past five years, as it has the potential to produce 500 million barrels of oil with peak production approaching 90,000 bpd.
On the Alaska North Slope, Pantheon holds a 90% to 100% working interest in all its projects. In March 2019 Pantheon announced its Alkaid well to be a discovery in the Brookian zone of interest, following successful testing that exceeded expectations.
In East Texas, Pantheon holds a 55.1% to 75% working interest in four prospects in Tyler and Polk Counties, which hold the Eagle Ford, Austin Chalk, Navarro and Wilcox formations.
Pantheon uses strategic drilling and farm-outs to prove up existing assets. Given its working interest positions in both East Texas and Alaska, it has the capacity to use farm outs to fund or subsidize future operations, and to work with strategic partners, according to the company.
Currently, Pantheon is engaged in a farmout process for its Alaskan assets. A physical data room has been established in Houston to allow future partners to perform due diligence ahead of a potential investment into the project.
To contact the author, email bertie.taylor@rigzone.com.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Fed Will Be One Of The Leading Oil Price Drivers in 2023
- Signs of Progress at Freeport LNG
- Turkey Halts Oil Flows to Mediterranean Port After Quake
- Next Steps Following US Pacific Wind Leasing Round
- US Oilfield Services Firms Money Policy Could Hinder Industry Growth
- Australian Budget Must Focus On New Gas Supply, Industry Says
- Oil Market Is In A State of Flux
- Modi Says India Can Add Oil and Gas While It Chases Green Goal
- Woodside To Pick Development Concept For Timor-Leste Gas Project
- Plenitude Starts Production From Texas Solar Project
- New SPR Bill Passes House
- Biden To Support ConocoPhillips Alaska Oil Project, Defying Greens
- Shell CEO Says World 'Desperately In Need' Of Natural Gas
- Energy Services Sector Will Grow To $1 trillion In 2025
- USA Oil and Gas Employs Almost 1 Million in 2022
- Fate Of $8Bn Alaska Oil Project To Be Resolved In Next 30 Days
- Winter Storm Mara Update
- New Discoveries Make 2022 Highest Value Year In Over A Decade
- Exxon Beats Earnings Record With With Massive $56 Billion
- European Union Debuts First-Ever Carbon Border Tax
- Valaris Employee Reported Missing from Rig
- Gasoline and Diesel Prices Expected to Fall
- Is the USA Shale Boom Over?
- New SPR Bill Passes House
- Higher Oil Prices Have Not Led to More Exploration
- Shell Finds Gas In Pensacola High-Impact Well Off UK
- Iran Oil Gushes Into Global Market
- Will Oil Hit $100 Per Barrel in 2023?
- Eni, Chevron Make Significant Gas Discovery Off Egypt
- What Bad Habits Should Oil and Gas Jobseekers Avoid?