Pantheon Resources has officially begun drilling the Dubhe-1 well to evaluate the potential for new resources in the Ahpun field, strategically located near major transportation and pipeline routes in the Alaska North Slope region.
Drilling of the Dubhe-1 well
This well is targeting the upper horizon known as SMD-B, a formation that has shown hydrocarbons in previous drilling. This evaluation seeks to confirm the volume of existing oil and gas over a previously identified resource.
An independent technical report prepared by Cawley Gillespie & Associates(CGA) estimated that the target contains a 2C Contingent Resource of approximately 282 million barrels of ANS crude oil and 804 billion cubic feet of gas. At current prices, the net value of these resources could reach $1.74 billion.
In addition to SMD-B, drilling is also designed to investigate three additional levels: Prince Creek, SMD-C and the slope fan system. Although these horizons currently have no assigned resource estimates, they represent an opportunity to expand the extractive potential of the region if the results are positive.
Pantheon Resources has contracted the Nabors 105AC rig, used in previous operations, for this drilling campaign. Support infrastructure includes a gravel base installed adjacent to Dalton Road, allowing year-round access and laying the groundwork for future development activities.
Approval of the Dubhe-1 well could support the long-term natural gas supply contract associated with Phase 1 of the Alaska LNG project. The potential resource consolidation at Ahpun could play a strategic role in the state’s medium-term energy plans.
Max Easley, the company’s executive director of resources, indicated that the progress of this drilling seeks to establish a production rate curve, which would facilitate decisions on the comprehensive development of the Ahpun field.
With an integration of identified resources, nearby infrastructure and a strategic approach, Pantheon Resources strengthens its presence in the Alaskan energy landscape. Initial results from Dubhe-1 will be released upon completion of drilling operations.
Follow us on social networks and don’t miss any of our publications!
YouTube LinkedIn Facebook Instagram X (Twitter) TikTok
Source and photo: Pantheon Resources
