코디악 자원 1.2억 배럴로 업그레이드
9th 2024월 XNUMX월
판테온 리소스 PLC
Kodiak field resource upgraded 25% to 1.2 billion barrels of recoverable liquids by NSAI
Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects, covered by 193,000 acres of leases with an additional c. 66,000 acres to be awarded following successful bids in the December 2023 lease sales, all in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, is pleased to share the results of the updated Independent Expert Report ("IER") by Netherland Sewell & Associates, Inc. ("NSAI"). This update includes approximately 43,000 acres of the leases on which the Company was the successful bidder in December 20231, located on its 100% owned Kodiak Field on the North Slope of Alaska.
하이라이트
· NSAI's best estimates of Kodiak's contingent recoverable resources sum to 1.2 billion barrels of marketable liquids (oil, condensate and natural gas liquids) and 5.4 trillion cubic feet of gas ("tcf").
· The new resource represents a 25% increase (963 to 1,208 million barrels ("mmbbls")) in recoverable marketable liquids compared to NSAI's previous 2023 report.
· The updated numbers include c. 43,000 of the c. 66,000 acres of the expanded acreage footprint post the successful lease bids in December 20231, and a higher average recovery rate due to the better reservoir properties in the shallower, updip portion of the field secured by the new leases.
· Kodiak is a large basin floor fan accumulation with three well penetrations. Recent drilling activity and acreage acquisition strategy has focused on moving structurally higher into better reservoir rocks where porosity and permeability are substantially improved.
· The potential improvement in reservoir quality in the newly acquired acreage underpins the c. 40% increase in the high estimate of recoverable resources to 2,840 mmbbls of marketable liquids and 11.75 tcf of natural gas.
· The 5.4 tcf of recoverable gas (Best Case) is important as additional support for a proposed agreement with Alaska Gasline Development Corp ("AGDC") to bring gas to southcentral Alaska markets.
NSAI Contingent Resource estimate
총 100% 근로 이자 조건부 자원
리소스 카테고리 | 기름 (백만 배럴) | NGL (백만 배럴) | 잔류가스 (BCF) | 총 판매 가능한 액체* (백만 배럴) | |
낮은 추정치(1C) | 168.5 | 299.9 | 2,151.7 | 468.3 | |
최선의 추정치(2C) | 425.8 | 782.1 | 5,396.3 | 1,207.9 | |
높은 추정치(3C) | 1,029.7 | 1,811.6 | 11,748.6 | 2,814.3 |
The Kodiak oil and gas field currently represents Pantheon's largest project development candidate, currently defined by three well penetrations into the Basin Floor Fan structure, which extends more than 10 miles from the deepest part of the fan to the 2021 updip Theta West-1 appraisal well. The additional recent successful lease bids secure the remainder of the accumulation to the northwest and adds a significant volume of recoverable oil and gas to the Kodiak field. Pantheon has been able to delineate the full extent of the field through its proprietary 3D seismic where seismic attributes have clearly indicated the presence of light oil across the entirety of the field.
NSAI estimated an increased average recovery factor of 8% across the field for liquids due to expectations of substantially improved porosity and permeability in the northwest, updip portion of the field. Recovery factors for gas are in the range of 30-40%, based on primary recovery only. Pantheon believes these recovery factors may increase further once supported by drilling data in the northwest portion of the acreage.
The updip extensions of the Kodiak field are more analogous to producing fields, including Tarn and Meltwater. Future appraisal drilling will focus on the shallower, better quality reservoir sections to demonstrate the validity of increased recovery factors and production performance.
The NSAI updated report on Kodiak is one of several IERs being prepared for Pantheon as it progresses funding options for its projects. To expedite a more rapid completion of these reports, Pantheon commissioned IERs for (the shallower) Ahpun Topsets and (the deeper) Alkaid Zone from Cawley Gillespie & Associates ("CGA") and Lee Keeling & Associates ("LKA") respectively. These reports are expected over the next month and are integral to financing discussions.
1 The Company has paid an initial 20% deposit to the State of Alaska with the remainder payable on official award of the new leases which is anticipated this quarter
The NSAI report can be found at www.판테온자원.com
Pantheon will be hosting an Investor Meet Company webinar at 5.00pm BST on Wednesday April 10th. Those wishing to participate can register through the following link:
https://www.investormeetcompany.com/pantheon-resources-plc/register-investor
David Hobbs, Executive Chairman of Pantheon Resources, commented:
"The underpinning of our strategy with the validation provided by NSAI is an important step on the path to our 2028 goal of demonstrating values in the range $5-$10 per barrel of recoverable resource. Recent progress towards securing funding, include leveraging our natural gas resources - potentially turning them from a liability to an asset - allows us to move forward with increased confidence. I would like to take the opportunity to congratulate Jay and his team on putting the building blocks in place to deliver our ultimate success."
Bob Rosenthal, Technical Director of Pantheon commented:
"This NSAI report reveals the true scale of the Kodiak Field now that we have secured leases over its full extent. The potential upside is vast - NSAI recognise a high estimate in excess of 2.8 billion barrels of recoverable marketable liquids and nearly 12 trillion cubic feet of recoverable natural gas. As we drill wells and obtain additional data, our goal is to progressively move the 'best case estimate' towards NSAI's 'high case estimate' over time.
"Discovering a billion-barrel oil accumulation is what companies dream about and the Independent Expert Report by NSAI validates our Company's significant achievements over the past decade. We can now turn our attention to development, along with our growing Ahpun resource, to turn these volumes to cashflow and value for shareholders."
NSAI Contingencies | Plan to Address the Contingencies |
1. Acquisition of additional technical data that demonstrate producing rates and volumes sufficient to sustain economic viability across the acreage | · Creating a development model for Pantheon's entire project area that encompasses both Kodiak and Ahpun · At Kodiak, the Company believes it will require 2 or 3 more appraisal wells with whole cores, full suites of electric logs, and longer production test data than was acquired at both the Talitha-A or Theta West-1 wells |
2. Approval of a field development plan and regulatory permits | · A field development plan will be supported by dynamic modelling carried out by SLB and the Pantheon team · The Company has embarked on the relevant regulatory processes for Ahpun and will, in due course begin the process for Kodiak with a goal to achieve FID for Kodiak by the end of 2028 |
3. Demonstration of viable gas and water utilization or disposal methods | · Pantheon will reinject any excess gas that isn't consumed as fuel in field operations or marketed to consumers in southcentral Alaska · Water produced will be reinjected into the original formation or other strata |
4. Demonstration of the ability to market oil and natural gas liquids (NGL) and | · The Company sold 10,000 barrels of oil from Alkaid-2 production in 2023 · Legacy fields on North Slope co-mingle their condensates and NGLs into TAPS |
5. Commitment to fund and complete the development project | · Pantheon will only proceed with development FID when it has secured funding |
AIM 규칙 - 광업 및 석유 및 가스 회사에 대한 참고 사항 - 2009년 40월에 따라 이 발표에 포함된 정보는 자격을 갖춘 석유 엔지니어이자 석유 엔지니어 협회 회원인 David Hobbs가 검토하고 승인했습니다. 해당 분야에서 약 XNUMX년의 관련 경험을 보유하고 있습니다.
The estimates in the Kodiak NSAI IER have been prepared in accordance with definitions and guidelines set forth in the 2018 Petroleum Resource Management System (PRMS) approved by the Society of Petroleum Engineers (SPE).
이 발표에 포함된 정보는 유럽 연합(철회) 법 596( "망치다").
자세한 내용은 다음 연락처로 문의하십시오.
판테온 리소스 PLC | +44 20 7484 5361 |
데이비드 홉스, 회장 Jay Cheatham, Ch아이 프 Executive Of파이서 | |
Justin Hondris, 재무 및 기업 개발 담당 이사 | |
Canaccord Genuity plc(지명 고문 및 broker) | +44 20 7523 8000 |
헨리 피츠제럴드-오코너 제임스 아센시오 아나 에르체고비치 | |
브라이더레이 | +44 20 7138 3204 |
팀 브라이스 메건 레이 매튜 볼드
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편집자 주
Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA, where it has a 100% working interest in c. 193,000 acres. In December 2023, Pantheon was the successful bidder for an additional 66,240 acres with very significant resource potential, contiguous to the Ahpun and Kodiak projects. Following the issue of the new leases, which are expected to be formally awarded in summer 2024 upon payment of the balance of the application monies, the Company will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects are currently around 1.3 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS") with additional IERs expected within the next month.
Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028. This is based on targeting Final Investment Decision ("FID") on the Ahpun field by the end of 2025, subject to regulatory approvals, building production to at least 20,000 barrels per day of marketable liquids into the TAPS main oil line, and applying the resultant cashflows to support the FID on the Kodiak field by the end of 2028.
다른 ANS 프로젝트와의 주요 차이점은 Pantheon에 상당한 경쟁 우위를 제공하는 기존 도로 및 파이프라인과의 근접성으로, 인프라 비용을 실질적으로 낮추고 일반적인 것보다 훨씬 낮은 사전 현금 흐름 자금 요구 사항으로 개발을 지원할 수 있는 능력을 제공합니다. 알래스카에서.
The Company's project portfolio has been endorsed by world renowned experts. Netherland, Sewell & Associates ("NSAI") estimate a 2C contingent recoverable resource in the Kodiak project that total 1,208 million barrels of marketable liquids and 5,396 billion cubic feet of natural gas. Cawley Gillespie & Associates and Lee Keeling & Associates are working on estimates for the Ahpun Field Topset and Alkaid horizons.
용어사전
Bbl: 배럴
우발 자원: 특정 날짜를 기준으로 개발 프로젝트를 적용하여 알려진 축적량에서 잠재적으로 회수할 수 있을 것으로 추정되지만 하나 이상의 우발 상황으로 인해 현재 상업적으로 회수할 수 없는 것으로 간주되는 석유의 양입니다.
조건부 자원의 경우 일반 누적 용어인 최저/최고/최고 추정치를 사용하여 결과적인 1C/2C/3C 수량을 각각 추정합니다. C1, C2, C3라는 용어는 비정규 자원의 증분 수량에 대해 정의됩니다.
A. C1: 임시 자원의 낮은 추정치를 나타냅니다. C1은 1C와 같습니다.
B. C2: 가능성과 동일한 기술적 신뢰를 갖고 있지만 예비 자원으로 상업적으로 성숙되지 않은 비상 자원을 나타냅니다.
C. C3: Denotes Contingent Resources of same technical confidence as Possible, but not commercially matured to Reserves.
불확실성의 범위를 확률분포로 표현하면, 최저, 최고, 최고 추정치 다음과 같이 제공되어야 합니다:
A. 실제로 회수된 양이 낮은 추정치와 같거나 이를 초과할 확률(P90)이 최소 90% 이상이어야 합니다.
B. 실제로 회수된 양이 최선의 추정치와 같거나 이를 초과할 확률(P50)이 최소 50% 이상이어야 합니다.
C. 실제로 회수된 양이 회수된 양과 같거나 그 이상일 확률(P10)이 최소한 10%가 되어야 합니다. 높은 견적.
The project maturity subclass for these contingent resources is development unclarified.
개발이 명확하지 않음 is a discovered accumulation where project activities are under evaluation and where justification as a commercial development is unknown based on available information.
NGL: 천연가스 액체(NGL)는 액체 형태로 가스 상태에서 분리되는 천연가스의 구성 요소입니다.
로열티 이자 무시(ORRI): A royalty granted to a third party other than the royalty payable to the State of Alaska.
작업 관심: The legal ownership of the leases awarded by the State of Alaska. Pantheon's Net Revenue Interest (NRI) in the leases is less than 100% by virtue of royalties payable to the State and any ORRI. In the case of the Kodiak project, the State royalties vary between 12.5% and 16.67%. Management estimates that the average NRI is approximately 85%.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.