AGDC and 2025 FID?30 Mar 2025 12:08
Any thoughts? I don't believe Glenfarne or AGDC are making any decisions without far more technical data than we have access to as retail investors.
While the Ahpun field encompasses multiple project areas — including the Western Topsets and Alkaid horizons — it’s worth noting that Pantheon has publicly disclosed contingent recoverable resources of ~152.5 million barrels of oil and ~804 bcf of gas in the Western Topsets alone (as per their latest published data).
But the real elephant in the room is Kodiak. According to Pantheon’s 2023 resource update, Kodiak has been assessed to contain approximately 1.2 billion barrels of marketable liquids and 5.4 trillion cubic feet (Tcf) of gas — a massive resource with significant strategic implications.
In my view, it doesn’t seem that AGDC or Glenfarne are simply waiting for flow test results to start forming their strategies. They likely already have the technical data they need (Pantheon’s internal studies, third-party resource assessments, and initial flow testing at Alkaid-2 and Ahpun).
For me, the leadership change — with Max stepping forward — and his calm, methodical approach speaks volumes. It feels less like “if” and more like “when.”
Just my opinion, but said with conviction.