The webinar will provide a high-level overview of Pantheon’s projects and the significant advancements made to date, as well as a presentation on the 2022 drilling and testing programme.
Discussions will include an overview of planned testing of the Talitha #A, drilling and testing of Theta West #1 and drilling of the Alkaid #2 horizontal well and long term production test.
Pantheon’s assets span 153,000 contiguous acres and include 3 significant oil appraisal and development projects named Theta West, Talitha and Greater Alkaid. All projects are located immediately adjacent to the Trans Alaska Pipeline System and the Dalton Highway, the major transportation artery for the Alaskan North Slope. The Company estimates these three wholly-owned projects to contain circa 17 billion barrels of oil in place and over 2.2 billion barrels of recoverable resource. A three well programme to drill and, where relevant, test these projects commenced in January 2022.
The presentation includes certain information not previously disclosed as follows:
Talitha #A testing – The Talitha #A discovery well was drilled and logged in 2021 confirming the presence oil across five independent horizons. The well was positioned in a location prioritized for the Shelf Margin Deltaic (“SMD”) zone as the primary target. The well is a vertical test well and as such the Company is targeting an initial production rate of 50-80 barrels of oil per day (“bopd”) from the SMD. Such a flow rate in a vertical configuration is expected to translate into materially higher flow rates in a horizontal configuration, which is how all production wells will be drilled.
Theta West #1 – anticipated flow rates will not be provided for Theta West #1, however these will be provided as testing operations occur.
Alkaid #2 – Alkaid #2 is anticipated to be drilled in Summer 2022 and will be drilled as a horizontal well to maximise production rates which, in a success case, are modelled to be in the range of 100-150 bopd per 1,000 feet of horizontal wellbore. Ultimately, it is believed that such horizontal sections will extend to 8,000 feet or more in length, however in the first well the Company may take a more conservative approach and complete the well with a shorter horizontal section.
Jay Cheatham CEO said: “Following the news that Theta West #1 has been spudded and testing operations have commenced at Talitha #A, the timing couldn’t be better to be holding this webinar. The team and I look forward to our presentation.”
