8th Sep 2025 10:33
(Alliance News) - Pantheon Resources PLC on Monday said the Dubhe-1 horizontal lateral in Alaska's North Slope was successfully drilled.
The oil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska said the Dubhe-1 appraisal well lateral was logged to a total measured dept of 15,800 feet, of which 5,200 feet was within the SMD-B target reservoir. It exceeded pre-drill targeted length of 3,000 to 4,000 feet.
Chief Development Officer Erich Krumanocker said: "We are delighted to announce the Dubhe-1 horizontal lateral as a success, landing the well in the target reservoir and exceeding our expectations for the length. We are looking forward to progressing with the completion and subsequent flow testing of this well."
Pantheon Resources shares rose 13% to 32.60 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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