Pantheon Resources CEO Max Easley joined Steve Darling from Proactive to share details on the upcoming testing, which will assess multiple pay zones identified through extensive geological analysis.
According to the company, data from logs, cores, cuttings, and seismic studies indicate seven distinct interpreted pay zones. Flow testing of the shallowest six is set to begin before the end of March 2025. Easley noted that analyses of comparable formations suggest potential flow rates ranging from 200 barrels per day (bpd) to 2,000 bpd, depending on reservoir quality and fluid characteristics. The company anticipates that flow rates from the deepest horizon will be on the lower end of this range, while the shallower horizons could yield the highest rates.
Confirming in-place and recoverable contingent resources depends on the success of these flow tests, which will provide crucial data on fluid composition, reservoir properties, API oil gravity, gas-oil ratio, and in situ saturations. Previous guidance remains unchanged for the Upper Schrader Bluff and Prince Creek formations, with flow data set to be released at the conclusion of testing for each horizon.
A key strategic goal for Pantheon is to integrate successful flow test results from the deeper zones into the broader Ahpun development plan. The company highlighted that positive results would validate the potential for future 10,000-foot lateral well completions from the Megrez Pad, leveraging existing processing infrastructure to maximize economic returns.
With testing scheduled to begin in the coming weeks, Pantheon Resources is poised to gain critical insights into the production potential of Megrez-1, further advancing its development strategy in Alaska’s North Slope.
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