Pantheon upgrades Alaska find to 1.2 billion barrels

USA

ANCHORAGE, April 9, 2024 – UK independent Pantheon Resources on Tuesday announced a major upgrade to its resource estimates at the Kodiak discovery in Alaska, saying the find could hold 1.2 billion boe of recoverable liquids and 5.4 tcf (153 bcm) of gas.

A report delivered by Netherland Sewell & Associates assessed 174 square kilometres of lease area on Pantheon’s 100% owned Kodiak field on the North Slope of Alaska. The report raised liquids estimates from 2023 levels of 963 million barrels by around 25% to 1.2 billion.

The Kodiak project covers around 502 square kilometres.

Pantheon’s stock was up 24% on Tuesday morning following the announcement.

The company’s assets, including the Kodiak and Ahpun discoveries, are focused on the North Slope Basin on northern Alaska. It has an agreement with the Alaska Gasline Development Corporation to bring gas to south-central Alaska markets.

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