Pantheon Resources reports significant resource upgrade potential following Megrez-1 Well analysis [Video]

Pantheon Resources CEO Jay Cheatham and Technical Director Bob Rosenthal joined Steve Darling from Proactive to shared promising updates from the Megrez-1 well during an interview with Proactive, revealing preliminary findings that suggest a significant upgrade in resource estimates for Ahpun’s Eastern Topset. The results, which include detailed analysis of logs, cores, and cuttings, indicate that the Megrez structure has exceeded pre-drill expectations and holds considerable additional potential.

According to the company, the Megrez structure has trapped a larger hydrocarbon pool than originally anticipated. This discovery is further bolstered by the identification of additional prospective zones in the Lower Sagavanirktok Formation, located above the Prince Creek Formation. These zones were not included in earlier evaluations, providing an unexpected opportunity for resource expansion and further boosting the well’s significance.

For the previously identified oil horizons, which include the Upper Schrader Bluff and the Upper and Lower Prince Creek formations, Pantheon Resources …