Pantheon Resources makes discovery at Megrez-1 well
Pantheon Resources announced the Megrez-1 well as a discovery in the eastern topsets in the Ahpun field on Alaska’s North Slope. The well has reached target depth and the company has run 5½” production casing in anticipation of long term testing commencing early 2025.
Log analysis indicates three hydrocarbon bearing zones over a 1,260 ft vertical section including the two primary objective formations. Significant portions of the reservoirs encountered exhibited porosities above 20%, as anticipated pre-spud. More accurate porosities and permeabilities will be determined after detailed analysis of whole cores has been completed.
Preliminary analysis indicates that Megrez-1 has intersected multiple horizons containing light liquid hydrocarbons over some 2,060 ft of measured depth (1,260ft vertical). Multiple reservoirs were contained in this overall section consisting of interbedded sands and shales. All of the penetrated hydrocarbon bearing intervals are of Maastrichtian age.
Over the coming weeks and months, the company will be evaluating a large data set gathered from the well, including whole core (which has been sent to independent labs for assaying), VAS analysis (Volatiles Analysis) of cuttings, logs and sidewall cores, with preliminary analysis estimated to be completed during February 2025. These analyses will be used to determine more detailed reservoir characteristics and begin the planned extensive long term production testing programme. This will benefit from the availability of the Nabors-105AC rig which is stacked on the Megrez gravel pad, adjoining the Dalton Highway, until required.
