The North Slope remains underexplored and is rated as an immature exploration province in terms of well density-to-reserves and production, confirming the immense potential proven by recent discoveries including the rumoured King Street discovery by Apache, Armstrong and Santos during 2024. IHS Markit believes the ANS is a “Super Basin ready for oil resurgence as oil production is expected to grow 40% in eight years.”
Pantheon is a large leaseholder on the ANS where it controls a 100% working interest in a contiguous acreage block of c. 258,000 acres, to the south of the giant Prudhoe Bay and Kuparuk oil fields. This acreage is covered by c. 900 square miles of mostly proprietary 3D seismic and contains two giant discovered oil fields with additional world class exploration prospects.
As part of the USA, Alaska enjoys well understood sovereign risk ratings and has among the best fiscal regimes for petroleum development in the world, which is ideal for an operator such as Pantheon to pursue impactful oil ventures.