Pantheon Resources (PANR): Kodiak seismic reprocessing and Theta West-2
This situation live
PANR Pantheon Resources
16 Feb 2026 · Seismic reprocessing started; well preparations only · +62% until the next step
The Company is performing preliminary activities for a potential Theta West-2 appraisal well, with timing and execution subject to funding, permitting, and operational considerations.
31 Mar 2026 · Seismic reprocessing commissioned on NW Kodiak · +4% until the next step
Commissioned re-processing of 3D seismic data on the updip northwest section of Kodiak
14 Sep 2026 · Reprocessing complete; formal resource estimate pending · −19% since
The seismic reprocessing has now been successfully completed on budget and on time, utilising modern and improved processing techniques.
Kodiak seismic reprocessing and Theta West-2
Reprocessing complete; formal resource estimate pending
Next: Formal PRMS Kodiak resource estimate and appraisal well location
Every step · 3
- 16 Feb 2026 Seismic reprocessing started; well preparations only – The Company is performing preliminary activities for a potential Theta West-2 appraisal well, with timing and execution subject to funding, permitting, and... ↗
- 31 Mar 2026 Seismic reprocessing commissioned on NW Kodiak – Commissioned re-processing of 3D seismic data on the updip northwest section of Kodiak ↗
- 14 Sep 2026 Reprocessing complete; formal resource estimate pending – The seismic reprocessing has now been successfully completed on budget and on time, utilising modern and improved processing techniques. ↗
What is happening
Pantheon Resources: Kodiak seismic reprocessing and Theta West-2 – Reprocessing complete; formal resource estimate pending. ['Reprocessing complete; formal resource estimate pending']
- In short
- Reprocessing of the up-dip northwest Kodiak area began in February 2026 and is now complete, on budget and on time. Management expects at least a 25% rise in the 2C resource from 1.2bn barrels, within the 2.8bn 3C. This is a preliminary non-PRMS view; a formal estimate will follow. No standalone drilling is planned this winter.
- Announced
- 16 Feb 2026 · Seismic reprocessing started; well preparations only
- Latest
- 14 Sep 2026 · Reprocessing complete; formal resource estimate pending
- Work
- 3D seismic reprocessing, north-west Kodiak, up-dip from Theta West-1
- Funding
- $10m January 2026 raise allocated to reprocessing and general purposes
- Next milestone
- Appraisal well location optimisation; no standalone drilling this winter
- Area
- About 238 square miles, northwestern lease area
- Preliminary view
- 2C uplift of at least 25% from 1.2bn barrels; 3C is 2.8bn
- Status
- Not PRMS compliant; formal estimate as soon as practicable
What comes next
Formal PRMS Kodiak resource estimate and appraisal well location.
Briefing
Pantheon Resources in 4 minutes
Pantheon Resources is an AIM-listed company that owns 100% of the Kodiak and Ahpun oil fields on Alaska's North Slope. Independent experts certify about 1.6 billion barrels of resources there, but the company has no...
- Act 1Buying acreage and promising first oil by 2026
- Act 2Megrez-1: a thick oil column, then water
- Act 3Dubhe-1: a $33m well that did not flow, then a reset
From the company's own announcements. Not investment advice.
Also at Pantheon Resources 3 open
New CEO / reset2023 strategy reset – Wilkins CEO; Board review ongoing
Sale process / strategic reviewFarm-out and funding – Ten parties in data room; new CEO
Project milestonesDubhe-1 flow test – Reprocessing complete; formal resource estimate pending
Insider conviction1 director buying – £353k in 1 buy · closed
Insider conviction1 director buying – £751k in 1 buy · closed
Pantheon Resources – company page →