Pantheon Resources Prepares for High-Impact Alaska Drilling

Pantheon Resources (GB:PANR) has released an update.

Pantheon Resources PLC announced securing the Nabors 105AC drill rig to bore the Megrez-1 well in Q4 2024, targeting the Ahpun East topset play in Alaska, estimated to hold over 600 million barrels of liquids and 3.3 Tcf of natural gas, with a 69% geological chance of success. The company also confirmed the award of 46 new leases following a successful bid in Alaska’s 2023W lease sale, adding around 65,691.5 acres to its holdings. CEO Jay Cheatham expressed high expectations for the well’s potential impact, given its location near existing infrastructure and the significant resources anticipated.

For further insights into GB:PANR stock, check out TipRanks’ Stock Analysis page.