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SMALL CAP IDEA: Pantheon Resources hopes new horizontal well will follow in footsteps of vertical predecessors
By Jamie Ashcroft, Proactive Investors For This Is Money
Published: 16:25, 11 July 2022 | Updated: 16:25, 11 July 2022
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Pantheon Resources - PANR
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Proselenes
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Proselenes
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Re: Pantheon Resources - PANR
https://www.share-talk.com/new-alaska-o ... -2-well-2/
New Alaska oil well boosts interest in Pantheon Resources Alkaid-2 well
Abm July 13, 2022
This potentially crucial well will stamp American soil as a major multi-billion dollar oil asset.
The Alkaid #2 well is located adjacent to the Dalton Highway and Trans Alaska Pipeline System (TAPS) which are the main transportation highway and export pipelines, respectively, and approximately 4.5 miles from the Alkaid #1 discovery well drilled in 2015.
A key objective of this well is to gain robust production test data to accurately assess the ultimate potential of the reservoir. Whilst the Company believes the optimum well design to exploit the Alkaid anomaly would include +8,000 foot lateral sections, in this first well the Company will adopt a more conservative approach w.........................
New Alaska oil well boosts interest in Pantheon Resources Alkaid-2 well
Abm July 13, 2022
This potentially crucial well will stamp American soil as a major multi-billion dollar oil asset.
The Alkaid #2 well is located adjacent to the Dalton Highway and Trans Alaska Pipeline System (TAPS) which are the main transportation highway and export pipelines, respectively, and approximately 4.5 miles from the Alkaid #1 discovery well drilled in 2015.
A key objective of this well is to gain robust production test data to accurately assess the ultimate potential of the reservoir. Whilst the Company believes the optimum well design to exploit the Alkaid anomaly would include +8,000 foot lateral sections, in this first well the Company will adopt a more conservative approach w.........................
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Proselenes
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Re: Pantheon Resources - PANR
https://www.petroleumnews.com/pntruncat ... 8710.shtml
Great Bear Pantheon spuds first Alaska North Slope production well
Kay Cashman
Petroleum News
Great Bear Pantheon spud its first production well on Alaska’s North Slope the evening of July 6 using Nabors 105AC drill rig.
The Alkaid 2, a horizontal long-term test well, marks the company’s possible transition from explorer to producer. If successful at Alkaid 2, Great Bear Pantheon will truck the produced oil to Pump Station approximately 20 miles north of Alkaid and sell the produced oil to a nearby North Slope facility.
The first horizontal wells drilled on the North Slope were drilled by BP Exploration (Alaska) starting in the 1990s, and the techn...............
Great Bear Pantheon spuds first Alaska North Slope production well
Kay Cashman
Petroleum News
Great Bear Pantheon spud its first production well on Alaska’s North Slope the evening of July 6 using Nabors 105AC drill rig.
The Alkaid 2, a horizontal long-term test well, marks the company’s possible transition from explorer to producer. If successful at Alkaid 2, Great Bear Pantheon will truck the produced oil to Pump Station approximately 20 miles north of Alkaid and sell the produced oil to a nearby North Slope facility.
The first horizontal wells drilled on the North Slope were drilled by BP Exploration (Alaska) starting in the 1990s, and the techn...............
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Proselenes
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Proselenes
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Re: Pantheon Resources - PANR
New video update :
Pantheon Resources @PantheonResour1
New Video now live: Alkaid #2 Operations Update - Mid-July https://youtu.be/1MQv7LC9Fn0 via @YouTube
$PTHRF $PANR #PANR #OOTT #Alkaid #Alaska #energyindependenceUSA
https://www.youtube.com/watch?v=1MQv7LC9Fn0
.
Pantheon Resources @PantheonResour1
New Video now live: Alkaid #2 Operations Update - Mid-July https://youtu.be/1MQv7LC9Fn0 via @YouTube
$PTHRF $PANR #PANR #OOTT #Alkaid #Alaska #energyindependenceUSA
https://www.youtube.com/watch?v=1MQv7LC9Fn0
.
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Proselenes
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Re: Pantheon Resources - PANR
BOOM.......its early.
ITS GOOD.......DAMN GOOD
https://www.londonstockexchange.com/new ... l/15561819
29 July 2022
Pantheon Resources plc
Operational Update, Alkaid #2 Well
Pantheon Resources plc ("Pantheon" or the "Company"), the AIM listed oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to provide an update on the Alkaid #2 well.
Alkaid #2 Well - Target Vertical Depth Reached
· The Alkaid #2 pilot hole has now reached a total vertical depth of 8,584 feet ('ft'), with a measured depth of 8,950 ft, having encountered multiple oil bearing reservoirs in all three targeted formations in the well: (i) the Shelf Margin Deltaic, (ii) the Alkaid Anomaly, and (iii) the deeper, untested extension of the Alkaid Anomaly ("Alkaid Deep").
· Initial analysis indicates significant improvements in reservoir quality which could potentially lead to a material upgrade of the current resource for all targeted horizons.
· Analysis of data received to date confirms the Company's ability to accurately predict the presence of light oil bearing reservoirs using 3D seismic data, geological and geophysical capabilities, further enhancing confidence in development planning and expected outcomes.
· All reservoirs were encountered on prognosis at predicted depths with reservoir quality exceeding pre-drill expectations.
· Alkaid #2 confirms more than 1,400 ft of gross continuous oil bearing strata throughout the section drilled below the regional top seal at 7,165 ft down to at least the 8,584 ft total vertical depth. Under instruction from the Alaska Oil and Gas Conservation Commission (AOGCC), drilling was stopped at 8,584 ft, despite not having reached the bottom of the Alkaid Deep section, to allow a sufficient margin to avoid contact with the high pressure HRZ zone and possible fault.
ITS GOOD.......DAMN GOOD
https://www.londonstockexchange.com/new ... l/15561819
29 July 2022
Pantheon Resources plc
Operational Update, Alkaid #2 Well
Pantheon Resources plc ("Pantheon" or the "Company"), the AIM listed oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to provide an update on the Alkaid #2 well.
Alkaid #2 Well - Target Vertical Depth Reached
· The Alkaid #2 pilot hole has now reached a total vertical depth of 8,584 feet ('ft'), with a measured depth of 8,950 ft, having encountered multiple oil bearing reservoirs in all three targeted formations in the well: (i) the Shelf Margin Deltaic, (ii) the Alkaid Anomaly, and (iii) the deeper, untested extension of the Alkaid Anomaly ("Alkaid Deep").
· Initial analysis indicates significant improvements in reservoir quality which could potentially lead to a material upgrade of the current resource for all targeted horizons.
· Analysis of data received to date confirms the Company's ability to accurately predict the presence of light oil bearing reservoirs using 3D seismic data, geological and geophysical capabilities, further enhancing confidence in development planning and expected outcomes.
· All reservoirs were encountered on prognosis at predicted depths with reservoir quality exceeding pre-drill expectations.
· Alkaid #2 confirms more than 1,400 ft of gross continuous oil bearing strata throughout the section drilled below the regional top seal at 7,165 ft down to at least the 8,584 ft total vertical depth. Under instruction from the Alaska Oil and Gas Conservation Commission (AOGCC), drilling was stopped at 8,584 ft, despite not having reached the bottom of the Alkaid Deep section, to allow a sufficient margin to avoid contact with the high pressure HRZ zone and possible fault.
-
Proselenes
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- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Proselenes
- Lemon Quarter
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- Joined: November 15th, 2016, 6:04 am
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Re: Pantheon Resources - PANR
Excellent news !!
https://www.londonstockexchange.com/new ... l/15590203
Pantheon Resources plc
Operational Update, Alkaid #2 Well
Corporate Update
Pantheon Resources plc ("Pantheon" or the "Company"), the AIM listed oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the conclusion of drilling operations, and the commencement of preparations for stimulation and flow testing at the Alkaid #2 well.
Alkaid #2 Well - Horizontal Lateral Target Depth Reached
Drilling operations at the Alkaid #2 horizontal well bore have now concluded, reaching a total measured depth of 14,300 feet ('ft') which includes a lateral length of 5,300 ft. A 5 ½ inch liner has been run, set, cemented at the bottom and tested for integrity. Pantheon, like all companies in the oil and gas industry, is experiencing significant inflationary cost and supply chain pressures at present, and hence is extremely pleased that drilling of the lateral section was accomplished smoothly and without incident.
As previously announced, future production wells will have a targeted lateral length of +/- 8,000 ft. However, as this is Pantheon's first horizontal well on the North Slope, and to minimize operational risk and still deliver the production data needed to optimize development of the resource, the Company adopted a conservative approach and utilized a shorter lateral.
Analysis of the logging while drilling (LWD) and gas chromatograph readings indicate that the improved reservoir parameters encountered in the vertical pilot hole have continued or improved in the horizontal well bore. This data further confirms the accuracy of Pantheon's geological models and provides the Company with greater confidence to predict reservoir tops and bottoms. As previously announced, initial analysis indicates significant improvements in reservoir quality which has the potential to lead to upgrades of the current resource estimates for all targeted horizons.
Analysis of data received to date also highlights the progression in the Company's ability to accurately predict the presence of light oil bearing reservoirs using 3D seismic data, geological and geophysical capabilities, further enhancing confidence in future drilling and development planning. The quality of data received from the well has been extremely high and the Company will assess the flow test and other well data before making a final decision on the winter 2022/23 operations program.
Next Steps - Long Term Production Testing
Future operations at Alkaid #2 involve demobilizing the Nabors Rig 105 and moving in a smaller completion rig to undertake the extended completion operations of perforating and stimulating the horizontal section approximately every 165 ft and will necessitate +/- 30 separate perforation and stimulation stages.
After the completion, long term production testing will utilize a modular production kit capable of separating any oil, gas or water from the production stream before trucking this oil to a nearby production unit for sale. As mentioned previously, Pantheon will use unconventional production techniques, applying this technology to the conventional sandstone reservoirs encountered across the entire project area.
Corporate Update
The Company is also pleased to announce that it is in the process of applying for the Company's ordinary share capital to trade on the OTC Market's OTCQX trading platform in the Unites States. The OTCQX is the top tier of the three marketplaces for the OTC trading of stocks and will allow U.S. investors greater ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours. The Company is not seeking a fundraising in conjunction with this process.
Bob Rosenthal, Technical Director, said: "I am incredibly proud of the result so far and of the superb work of our team. The first development well in any new area can sometimes yield unexpected surprises as we never really know what wellbore conditions to expect over such a long distance, and hence I am delighted we reached 5,300 ft without incident, an important milestone for me because it exceeded my personal goal of one mile. This latest operation appears to reinforce the accuracy of our geological modelling, giving me great confidence in our modelling of the other, even larger, projects in our 100% owned portfolio."
Jay Cheatham, CEO, commented: "We have achieved another important milestone in demonstrating our ability to successfully drill a long lateral well. Globally, conditions for drilling oil and gas wells are challenging at present, with strong oil prices driving record demand for drilling and support services, resulting in higher costs and supply chain issues across the industry; so today's news is extra special for us.
"Each milestone that Pantheon achieves translates into a reduction in risk and increased confidence in the potential of the large resource discovered to date. As always, we must remind investors that despite the positive results so far, a definitive assessment of the commerciality of the well cannot be made until flow testing has occurred.
"Our successes over the past couple of years continues to attract interest from U.S. based investors. Upgrading to the OTCQX will be an important step in allowing greater flexibility in trading, particularly for U.S. investors."
https://www.londonstockexchange.com/new ... l/15590203
Pantheon Resources plc
Operational Update, Alkaid #2 Well
Corporate Update
Pantheon Resources plc ("Pantheon" or the "Company"), the AIM listed oil and gas company with a 100% working interest in all of its oil projects spanning c. 153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope ("ANS"), is pleased to announce the conclusion of drilling operations, and the commencement of preparations for stimulation and flow testing at the Alkaid #2 well.
Alkaid #2 Well - Horizontal Lateral Target Depth Reached
Drilling operations at the Alkaid #2 horizontal well bore have now concluded, reaching a total measured depth of 14,300 feet ('ft') which includes a lateral length of 5,300 ft. A 5 ½ inch liner has been run, set, cemented at the bottom and tested for integrity. Pantheon, like all companies in the oil and gas industry, is experiencing significant inflationary cost and supply chain pressures at present, and hence is extremely pleased that drilling of the lateral section was accomplished smoothly and without incident.
As previously announced, future production wells will have a targeted lateral length of +/- 8,000 ft. However, as this is Pantheon's first horizontal well on the North Slope, and to minimize operational risk and still deliver the production data needed to optimize development of the resource, the Company adopted a conservative approach and utilized a shorter lateral.
Analysis of the logging while drilling (LWD) and gas chromatograph readings indicate that the improved reservoir parameters encountered in the vertical pilot hole have continued or improved in the horizontal well bore. This data further confirms the accuracy of Pantheon's geological models and provides the Company with greater confidence to predict reservoir tops and bottoms. As previously announced, initial analysis indicates significant improvements in reservoir quality which has the potential to lead to upgrades of the current resource estimates for all targeted horizons.
Analysis of data received to date also highlights the progression in the Company's ability to accurately predict the presence of light oil bearing reservoirs using 3D seismic data, geological and geophysical capabilities, further enhancing confidence in future drilling and development planning. The quality of data received from the well has been extremely high and the Company will assess the flow test and other well data before making a final decision on the winter 2022/23 operations program.
Next Steps - Long Term Production Testing
Future operations at Alkaid #2 involve demobilizing the Nabors Rig 105 and moving in a smaller completion rig to undertake the extended completion operations of perforating and stimulating the horizontal section approximately every 165 ft and will necessitate +/- 30 separate perforation and stimulation stages.
After the completion, long term production testing will utilize a modular production kit capable of separating any oil, gas or water from the production stream before trucking this oil to a nearby production unit for sale. As mentioned previously, Pantheon will use unconventional production techniques, applying this technology to the conventional sandstone reservoirs encountered across the entire project area.
Corporate Update
The Company is also pleased to announce that it is in the process of applying for the Company's ordinary share capital to trade on the OTC Market's OTCQX trading platform in the Unites States. The OTCQX is the top tier of the three marketplaces for the OTC trading of stocks and will allow U.S. investors greater ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours. The Company is not seeking a fundraising in conjunction with this process.
Bob Rosenthal, Technical Director, said: "I am incredibly proud of the result so far and of the superb work of our team. The first development well in any new area can sometimes yield unexpected surprises as we never really know what wellbore conditions to expect over such a long distance, and hence I am delighted we reached 5,300 ft without incident, an important milestone for me because it exceeded my personal goal of one mile. This latest operation appears to reinforce the accuracy of our geological modelling, giving me great confidence in our modelling of the other, even larger, projects in our 100% owned portfolio."
Jay Cheatham, CEO, commented: "We have achieved another important milestone in demonstrating our ability to successfully drill a long lateral well. Globally, conditions for drilling oil and gas wells are challenging at present, with strong oil prices driving record demand for drilling and support services, resulting in higher costs and supply chain issues across the industry; so today's news is extra special for us.
"Each milestone that Pantheon achieves translates into a reduction in risk and increased confidence in the potential of the large resource discovered to date. As always, we must remind investors that despite the positive results so far, a definitive assessment of the commerciality of the well cannot be made until flow testing has occurred.
"Our successes over the past couple of years continues to attract interest from U.S. based investors. Upgrading to the OTCQX will be an important step in allowing greater flexibility in trading, particularly for U.S. investors."
-
Proselenes
- Lemon Quarter
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Proselenes
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Re: Pantheon Resources - PANR
https://jpt.spe.org/alaska-north-slope-projects-mush-on
Alaska North Slope Projects Mush On
A trio of oil projects gears up to boost throughput on the Trans-Alaska Pipeline System.
August 19, 2022 By Jennifer Presley
Journal of Petroleum Technology
Alaska's North Slope is seeing a surge of activity as companies continue to advance big exploration projects closer to the goal of turning these fields over to production in the next decade.
Several projects are in the race to be the first to add fresh oil to the Trans-Alaska Pipeline System (TAPS) and, in the ......................
Alaska North Slope Projects Mush On
A trio of oil projects gears up to boost throughput on the Trans-Alaska Pipeline System.
August 19, 2022 By Jennifer Presley
Journal of Petroleum Technology
Alaska's North Slope is seeing a surge of activity as companies continue to advance big exploration projects closer to the goal of turning these fields over to production in the next decade.
Several projects are in the race to be the first to add fresh oil to the Trans-Alaska Pipeline System (TAPS) and, in the ......................
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Proselenes
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Re: Pantheon Resources - PANR
News release is out.
Flow test news early October.
US OTC QX in coming days.
https://www.londonstockexchange.com/new ... e/15615417
.
Flow test news early October.
US OTC QX in coming days.
https://www.londonstockexchange.com/new ... e/15615417
.
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Proselenes
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Proselenes
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Re: Pantheon Resources - PANR
Looking good for Flare is back on.....which means oil is now flowing into the Production Facilities....
https://twitter.com/ijduwa/status/1594100105811894275
.
https://twitter.com/ijduwa/status/1594100105811894275
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Proselenes
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Re: Pantheon Resources - PANR
Looks good in the video.......tankers of oil moving, produced gas being flared.........all good.
https://twitter.com/Proselenes/status/1 ... 0892828673
.
https://twitter.com/Proselenes/status/1 ... 0892828673
.
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Proselenes
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