Pantheon Resources has begun drilling the Dubhe-1 well to appraise the topsets in the Ahpun field on Alaska’s North Slope.
This development is part of the company’s efforts in the Kodiak and Ahpun oil fields, which are located near existing pipeline and transportation infrastructure.
The primary objective of the Dubhe-1 well is to assess the topset horizon known as SMD-B, which is an already identified resource. Additionally, the well is set to explore three other horizons—Prince Creek, SMD-C, and the Slope Fan System. These horizons currently do not have assigned resource estimates but present potential for future gains if successful.
In 2024, an independent expert report by Cawley Gillespie & Associates (CGA) estimated that the main target contains a 2C Contingent Resource of 282 million barrels of ANS Crude and 804 billion cubic feet of natural gas.
Pantheon Resources plans to release initial findings from the Dubhe-1 well following the completion of drilling operations.
The company has engaged the Nabors 105AC rig, previously used by Pantheon in other projects, to carry out the drilling.
The construction of a gravel pad near the Dalton Highway was finalised in June 2025, enabling year-round support for ongoing and future drilling and development work.
Pantheon Resources CEO Max Easley said: “Assuming initial appraisal success at Dubhe-1, it will then allow us move forward into a test phase with the ultimate goal of accurately demonstrating a production type curve which would in turn underpin the planned Ahpun full field development, whilst at the same time supporting the natural gas volumes required for the proposed long term gas supply contract into the proposed Alaska natural gas pipeline.
“Dubhe-1 is an appraisal well, appraising an already discovered resource. Oil has been confirmed in multiple well penetrations of this horizon in the area, and as such has a significantly lower risk profile than the Megrez-1 well which was an exploration well. I look forward to reporting on progress once drilling is complete.”
