NPR-A contain up to 100 billion barrels of oil4 Sep 2023 13:20
** Report **
Pantheon Resources awarded almost 40,000 acres in Alaska. On September 1, 2023, Pantheon Resources announced that it had been awarded 39,540 acres in Alaska by the Alaskan Department of Natural Resources (DNR). The acreage is located in the North Slope of Alaska, and is adjacent to Pantheon's existing acreage.
The NPR-A is a vast area of land that is estimated to contain up to 100 billion barrels of oil. However, only a small portion of the NPR-A has been explored, so there is still a lot of potential for new oil discoveries.
The oil finds on the North Slope of Alaska are a welcome development for the US oil industry. The US is currently facing a shortage of oil, and the new discoveries could help to boost domestic production.