Pantheon drills successful Dubhe-1 lateral, boosting Ahpun resource estimate to 589M barrels

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3d ago 4:06

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Pantheon Resources CEO Max Easley and Chief Development Officer Erich Krumanocker joined Steve Darling from Proactive to announce a major milestone at the company’s Dubhe-1 appraisal well in Alaska, where the lateral has been successfully drilled and landed in the SMD-B horizon—the primary target identified in the earlier Dubhe-1 pilot hole. The second phase of the Dubhe-1 programme involved plugging back the pilot hole and drilling a lateral sidetrack into the SMD-B zone, entering the target horizon roughly 550 feet northeast of the pilot hole. The well ultimately achieved a measured depth of 15,800 feet, with approximately 5,200 feet within the SMD-B reservoir, far exceeding the company’s pre-drill expectations. The production test lateral was initially planned for 3,000–4,000 feet, but optimized drilling based on pilot results enabled Pantheon to capture significant upside. In addition to confirming the SMD-B reservoir, the sidetrack also encountered several shallow hydrocarbon-bearing zones. All intervals were logged with a full suite of Logging While Drilling (LWD) tools, and Volatiles Analysis Service (VAS) was conducted on both sealed and unsealed cuttings samples to provide detailed reservoir data. Importantly, the results from Dubhe-1 have substantially increased Pantheon’s resource base. The company’s best estimate of marketable liquids in the Ahpun area now stands at 589 million barrels, representing a 228 million barrel increase—approximately 63% growth—over previously certified estimates. Pantheon is now analyzing data from both the pilot and the lateral to design an optimized hydraulic stimulation programme and flowback operation. The company intends to apply modern completion techniques drawn from the Permian Basin, where such methods have driven efficiency and strong recoveries. Pantheon has already executed contracts and Master Service Agreements with key service providers, including several new suppliers bringing expertise from mature unconventional basins to Alaska’s North Slope. Management expects this approach will deliver higher efficiency at lower cost as the company advances toward production. #proactiveinvestors #pantheonresourcesplc #mining #lse #panr #pthrf #Dubhe1 #AlaskaOil #OilAndGasDevelopment #EnergyStocks #NaturalGas #AlaskaEnergy #OilExploration #OilProduction #PantheonDrilling #InvestingInOil

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