Pantheon Resources begins transition to production with spudding of Dubhe-1 appraisal well

Pantheon Resources has officially spudded the Dubhe-1 appraisal well, marking a major turning point as the company transitions from exploration to development and production. CEO Max Easley and Chief Development Officer Erich Krumanocker joined Steve Darling from Proactive to provide insight into this strategic milestone and what it means for the company’s future in Alaska’s energy landscape. Easley explained that the Dubhe-1 well is designed to validate reservoir deliverability by using a modern horizontal well and completion system. “The objective here is to demonstrate what the reservoir can deliver,” he said. “It also supports our gas sales agreement with the State of Alaska tied to the Alaska gas line project.” Krumanocker added that while Dubhe-1 is targeting a known resource, the well has been engineered to penetrate three additional zones—Upper Prince Creek, Shelf Margin Deltaic C, and a slope fan system. These formations have no currently booked resources, but may offer significant upside if hydrocarbons are encountered. “This is not like Megrez-1,” Krumanocker clarified, referencing a previous well that produced mostly water. “Dubhe-1 is located in a well-characterized zone that has already flow-tested oil and could actually become our first production well.” Easley emphasized that the coming months will bring a steady stream of updates as drilling progresses. He plans to personally visit the drill site next week to oversee operations and share more insight as results begin to emerge. With Dubhe-1, Pantheon Resources is aiming to unlock meaningful near-term production potential and de-risk broader development efforts across its Alaskan portfolio. #proactiveinvestors #pantheonresourcesplc #mining #lse #panr #pthrf #Dubhe1 #AlaskaOil #OilAndGasDevelopment #EnergyStocks #NaturalGas #AlaskaEnergy #OilExploration #OilProduction #PantheonDrilling #InvestingInOil