| Market cap (m) | £262.2 |
| Enterprise value (m) | £271.4 |
Pantheon Resources PLC is an oil and gas exploration company based in the United Kingdom. The company principally invests in oil and gas exploration and development. There are two reportable operating segments: U.S., which includes the Alaskan Operation plus administration based in Alaska and Texas and UK; Office for Pantheon Resources PLC. Its projects include Ahpun, Kodiak and Alaska North Slope.
Pantheon Resources reported a cost overrun for the Dubhe-1 well in Alaska and said the final drilling and completion cost exceeded prior expectations. The overrun was attributed to decisions to refine target zones, contingency measures, and price inflation. Additional costs for clean-up, flow-back, and well testing will be determined at the end of the programme.
The well is in clean-up operations to determine a representative oil flow rate. Initial production was dominated by previously injected stimulation fluids, with partial recovery to date, steady gas production, and modest light oil. The company said the cost increase does not affect operating performance and plans to provide further updates when results are available.