Pantheon Resources Unveils Significant Resource Estimates in Independent Report
TL;DR
Pantheon Resources releases report confirming 1.5 billion barrels of ANS Crude and 6.5 trillion cubic feet of gas, giving them a significant advantage in the energy market.
The Independent Expert Report by Cawley Gillespie & Associates evaluated the economics of the best estimate or 2C case for Pantheon Resources' aggregate resources.
The significant resource estimates by Pantheon Resources contribute to the development of the Alaska LNG project, supporting the in-State phase and potentially improving the energy landscape.
Pantheon Resources' report reveals the potential for 282 mmbbl of contingent recoverable resources of ANS crude and 803 billion cubic feet of natural gas, impacting the energy industry.
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Pantheon Resources has released an Independent Expert Report by Cawley Gillespie & Associates, revealing significant resource estimates for the company's Kodiak field, Ahpun western topsets, and Alkaid horizon. The report confirms that these fields collectively hold over 1.5 billion barrels of ANS crude and 6.5 trillion cubic feet of associated gas.
The report highlights the economic viability of developing the Ahpun topsets on the west side of the Dalton Highway. Even without considering the potential market for natural gas, the Ahpun topsets are estimated to contain 282 million barrels of contingent recoverable resources of ANS crude and 803 billion cubic feet of natural gas. This positions Pantheon Resources to substantially support the in-State phase of the Alaska LNG project.
David Hobbs, Executive Chairman of Pantheon Resources, noted that the report evaluated the economics of the best estimate or 2C case. Based on an ANS crude price of $80 per barrel delivered to the US West Coast, the net present value of the total contingent resources in the western topsets in the Ahpun field is estimated at $1.74 billion, according to Cawley Gillespie & Associates.
The report extends the independent assessments of all the company's discovered and appraised contingent resources, for which development approvals are being prepared. Pantheon Resources is targeting a Final Investment Decision (FID) at the earliest possible date, subject to regulatory consents, with a goal of achieving first production by 2028.
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Curated from News Direct
