14th Jan 2021 16:12
Pantheon Resources PLC - oil and gas exploration company focused on the Alaska North Slope - Acquires 100% interest in 66,000 acres in the state of Alaska's North Slope Areawide lease sale.
"The new leases are strategically positioned in two areas contiguous to our current acreage on our northwestern, western, and eastern boundaries," company says, noting its acreage now totals 160,000 contiguous acres.
Pantheon's winning bids averaged USD49.43 per acre, and bid a cumulative amount of USD3.3 million.
In separate release on Thursday, says Talitha A appraisal well was spudded ahead of schedule on Wednesday, with drilling planned to a total vertical depth of 10,000 feet.
Adds it has been notified that Kinder Morgan Treating LP has filed a petition against Pantheon, seeking payment of USD3.4 million with respect to the early termination of a gas treating agreement entered into between Kinder Morgan and Vision Operating Company LLC.
"Pantheon has taken legal advice on the matter and believes it has no liability to the service provider. Accordingly, Pantheon will vigorously contest all actions taken against it," company says.
Current stock price: 44.97 pence
Year-to-date change: up 3.4%
By Lucy Heming;Â [email protected]
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