RE: RNS boom boom7 Nov 2025 07:19
Operational Update
8 October 2025 06:00
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RNS Number : 4607C Pantheon Resources PLC 08 October 2025
8 October 2025
Pantheon Resources plc
Dubhe-1 Operational Update - Successful Completion of Fracture Stimulation
Operations
Pantheon Resources plc ("Pantheon" or the "Company"), the oil and gas company
developing the Kodiak and Ahpun projects immediately adjacent to pipeline
and transportation infrastructure on Alaska's North Slope, is pleased to
announce successful completion of the hydraulic fracture stimulation on the
Dubhe-1 well.
Key Points
· 25 hydraulic fracture stimulation stages successfully completed
in 8 days
· Operations are now underway to prepare well for clean-up and
production testing
Completion Details
As previously announced, the Dubhe-1 lateral was successfully drilled to a
total measured depth ("MD") of 15,800 feet ("ft"), logged and cased back to
surface providing c. 5,200 ft of the wellbore entirely within the SMD-B
target reservoir available for stimulation.
Operations commenced on 30 September 2025 with equipment and personnel being
mobilised from Alaska, Canada and the US Lower 48 states. The stimulation
consisted of 25 individual "plug and perforate" stages of approximately 200 ft
each. The programme proceeded in line with expectation with full placement of
both water and sand. There were no spills or safety incidents of any kind
during this operation. This represents an excellent result given Pantheon's
limited prior experience treating this specific reservoir and utilising a full
set of new contractors, including some that had not previously worked in
Alaska.
Over the coming weeks, the plugs set in the wellbore to separate the fracture
simulation stages will be drilled out with coiled tubing, and 2-7/8 inch
production tubing will be installed. The well will then be connected to a
temporary well testing system for the commencement of flow testing operations.
The Company expects to release further information, in line with its
regulatory requirements, as the programme proceeds.
Erich Krumanocker, Chief Development Officer, said: "We are extremely pleased
with the success of the operations so far. The team did an excellent job
executing this large and intricate operation safely and efficiently. The
stimulation was performed as planned, increasing our confidence in achieving
the objectives of the forthcoming flow testing programme."
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