Curated News
By: NewsRamp Editorial Staff
April 10, 2024

Pantheon Resources Unveils Game-Changer Kodiak Project's Explosive Potential

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Source News Release

TLDR

  • Pantheon Resources' 25% increase in recoverable marketable liquids and 40% increase in high estimate of recoverable resources is a game-changer in the oil and gas industry.
  • Netherland Sewell & Associates' report shows 1.2 billion barrels of marketable liquids and 5.4 trillion cubic feet of gas in the Kodiak Field on the North Slope of Alaska.
  • The increased recoverable resources in the Kodiak Field will contribute to meeting the world's energy needs and reducing dependency on non-renewable energy sources.
  • Pantheon's acquisition strategy in moving structurally higher into better reservoir rocks sets the stage for potential improvements in oil and gas extraction methods.

Impact - Why it Matters

The announcement of the significant increase in recoverable resources in the Kodiak Field has the potential to greatly impact the oil and gas industry, as well as the economy of the region. This news signifies a major development for Pantheon Resources and could lead to increased investment and exploration in the North Slope of Alaska.

Summary

Pantheon Resources Executive Chairman David Hobbs and Technical Director Bob Rosenthal announced the results of the updated Independent Expert Report by Netherland Sewell & Associates (NSAI) concerning approximately 43,000 acres of leases on the 100% owned Kodiak Field on the North Slope of Alaska, acquired by the company in December 2023. According to the report, NSAI's best estimates of Kodiak's contingent recoverable resources amount to 1.2 billion barrels of marketable liquids and 5.4 trillion cubic feet of gas. This represents a 25% increase in recoverable marketable liquids compared to NSAI's previous 2023 report.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Pantheon Resources Unveils Game-Changer Kodiak Project's Explosive Potential

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