Pantheon Resources (LSE:PANR) has announced the successful completion of hydraulic fracture stimulation on the Dubhe-1 well, part of its Kodiak and Ahpun oil and gas developments on Alaska’s North Slope. The operation, which included 25 stimulation stages conducted over eight days, was completed safely and without incidents—marking a key milestone in the company’s ongoing development program. The Dubhe-1 well is now being prepared for clean-up and production testing, with additional operational updates expected as the testing phase progresses. This successful operation strengthens Pantheon’s technical credentials and boosts confidence in achieving its future production and development objectives.
While the company continues to make progress operationally, Pantheon’s outlook remains constrained by financial challenges, including negative profitability and cash flow pressures. Nonetheless, recent positive project developments and ongoing strategic initiatives offer potential upside and suggest an improving outlook over the medium term.
About Pantheon Resources
Pantheon Resources plc is an AIM-listed oil and gas company focused on the exploration and development of its 100%-owned Ahpun and Kodiak fields, located on State of Alaska land on the North Slope, onshore USA. The company’s independently certified best estimate of contingent recoverable resources stands at approximately 1.6 billion barrels of Alaska North Slope (ANS) crude and 6.6 trillion cubic feet of associated natural gas. Leveraging its proximity to existing infrastructure, Pantheon aims to unlock significant value from its resource base, with a strategic objective of achieving sustainable market recognition of roughly $5 per barrel of recoverable resources by the end of 2028.
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