It is expected that the assessment of the rise in the pound will make NS Theta West play a role in the euro sweeter

Steven: The Big Bear Pantheon is talking about billions of barrels. Its Theta West 1 well-which will be drilled on the north slope this winter-is of great significance to the Pantheon Resources PLC subsidiary, and if the company's expectations for this well are met, it will also be of great significance to Alaska. The Theta West ice pad will be located 10 miles west of the Talitha pad, where the GBP Talitha A exploration well produced light oil last winter. "We think we are an important part of the future," Pantheon Resources CEO Jay Cheatham told Petroleum News in an interview on November 5. He said that GBP also plans to re-enter the Talitha well this winter to resume testing in areas where there is no time for the winter exploration season to end in the spring of 2021. The company expects to see the same area or even more in the Theta West well. For Pantheon, which has a market value of $770 million, the expected recoverable resources are huge. "At least one billion barrels," said Bob Rosenthal, Pantheon's technical director. "We think we made one of the biggest discoveries in the world last year." He said that GBP considers Theta West 1 to be an appraisal well discovered in Talitha last winter. "This discovery is of great significance anywhere in the world, whether it is in 5,000 feet of water, or in Alaska or Texas; it will have a huge and significant impact," Rosenthal said. "Its proximity to infrastructure only amplifies this impact." The Talitha well is located west of the Dalton Highway Transportation Highway and Trans-Alaska Pipeline System, about 20 miles south of the Prudhoe Bay oil field. Roads and pipelines pass through the company's land. "As we have repeatedly said, our findings extend below the pipeline," Rosenthal said. Theta West slopes upward from Talitha Although the Theta West exploration area is conventional, the drilling route to the Theta West well is unconventional. Theta West 1 slopes upward from the Talitha discovery well. "It has risen thousands of feet, maybe 2,500 feet," Cheatham said. "Of course, normally, you would drill a hole on the top of the structure and start leaning down for evaluation; well, we drilled down the dipping part, and we will do a good evaluation on the up dipping part." GBP is committed Extensive testing was conducted in the down-dipping Talitha well. "I happen to think that this is a very brave move for us, because if we don’t find hydrocarbons there, if we don’t find reservoirs in that location, it will be difficult to raise funds to drill into the best location or close to the best location. It’s a good location, it’s going to be tilted upwards, and we’ll evaluate it there,” Rosenthal said. "But we did it, so when we drill the Theta West and evaluate it there, we will have two wells, one in the top position and the other-the Talitha-in a downdip position, which means we're far away Where there are hydrocarbons.” The company was surprised to find a 3,700-foot oil column in the Talitha A well; Cheatham said that it was originally expected to appear as high as 2,000 feet. According to Rosenthal, in the lower basin floor fan of the Talitha well, the company encountered a 600-foot net-to-gross ratio of approximately 60%. A continuous tone shale.” GBP expects the results from the Theta West well to be better. "We believe that the thickness of the fan will double, maybe more, better quality, closer to the source," Cheatham said, adding that the crest is about 7,500 feet. "To pass it-it's such a thick section, we might do a TD at about 9,500 feet," Rosenthal said. "It will be much shallower than what we drilled in Talitha, around 2,000 feet, and the burial depth is significantly smaller, so the degradation of the reservoir is also less." "What we have is that these fan series are just stacked one on top of the other. For example, five or six. When we drill Theta West, we hope to have more fans," he said. "These things are stacked in place for geological reasons. We see these huge, stacked continuities of these individual fan-shaped complexes, one on top of the other, and their net value accounts for about 50-60% of the total income. Rosenthal said that the development of the fast track near the top of the Theta West well and the down-dipping Talitha well will provide a clearer geological picture. "With this, and our third data set, and the seismic rock physics we have been doing, I think we will have a case that can be submitted to the state and let us begin to develop a development plan," he said. "This is an evaluation well; we drill it, we test it. I think we can take it to the state government and ask them to help us put it into production." GBP does not plan to build a large central production facility in Theta West; it will Build gradually. Cheatham said that development will require hundreds of wells. "We plan to use these mobile Arctic production systems, adding about 5,000-6,000 barrels per day-treating them as skids, we can plug them in during the development process," he said. "We don't have to do all these front-end engineering and designs to fully optimize your production to extract the present value of the last dollar from it." The design will minimize the need for pipelines throughout the development process. "These are the production units where you process oil on site," Cheatham said. "This is why we don't need so many pipes when reinjecting the effluent into the reservoir." He said that in order to improve land use efficiency and better recovery, GBP will use horizontal wells on a single platform. "We will perform horizontal wells and multi-stage fracturing in all these reservoirs," Rosenthal said. Cheatham said: "We need water to fracturing. We have studied water resources. We think there are a lot of water resources nearby." "We believe that once we get approval from the state government, we can start production in a few years and reach Peak...From a fairly conservative model, we say that Theta West’s daily output is about 90,000 barrels," he said. The company has additional development. "This is just one of two or three, and we have some other developments that we can do," Rosenthal said. "The Alkaid development along the Dalton Highway we mentioned earlier may be super early production, and then our two units, our Talitha unit and the shelf edge delta of our Alkaid unit-part of which can be developed from the highway. "We believe that we can soon become an important participant in Alaska," he said. "We are very happy that we own 100% of state-owned land." The Environment-Respect GBP program is developed in the way it explores, minimizing the impact on the environment. "Since we are a new project, we will work hard-after we are in the development stage-to capture all our emissions and reinject them, so we will burn the associated gas to generate electricity; we will use all-electric fracturing pumps, all-electric drilling rigs Wait, capture the carbon dioxide and reinject it into the reservoir, this is our plan," Cheatham said. Reinjection of carbon dioxide may increase oil recovery. "It should help, keeping a little pressure will not cause harm," he said. "We haven't modeled it yet, but of course, if you look at Prudhoe Bay, they have a huge recovery rate, partly because they not only inject water, but also maintain the pressure-the reinjection of gas," Cheatham Said. "As early as the 1950s, carbon dioxide was definitely used in reservoirs in western Texas." Any unburned natural gas will also be reinjected. "We will not have any emissions," he said. Rosenthal is one of the founders of Great Bear, which merged with Pantheon in 2019. He said that the company has always been environmentally friendly. "You may remember that we conducted a large-scale event called lidar research on slopes a few years ago," he said. The company uses an airborne laser to analyze water resources and observe all the lakes in the area-pay attention to the depth of the lakes, which lakes have fish and which do not. "One of the main reasons we do this is that we can do a large area, but the other is that you can minimize your impact," Rosenthal said. "The only other way to do this is to send staff to take measurements so you can get out of the tundra." Great Bear showed that the method worked well, so it carried out additional airborne lidar research. "When the Sager River was flooding, I believe the state conducted the lidar research we provided to them and used it to understand what the original river channel looked like so that they could use it to correct the problem." The Farm Collaboration Discussion GBP unabashedly Look for cooperative farms to share development costs. "What we can say is that our discussions with our partners on introducing farms are very advanced; we believe this will happen," Cheatham said. "We plan to drill this winter; we are looking for a partner to participate in the whole thing, and this is what we are discussing now." The company has a backup plan. "We must have cooperative farms or other financing methods," Cheatham said. "We don't have enough funds to drill the Theta West well, so we have been following multiple parallel paths in the past few months. We are very confident." Pantheon is listed on the AIM section of the London Stock Exchange, but it is small and small. flexible. "We have three employees in Anchorage, and we have several consultants," Cheatham said. Cheatham said the accumulation of oil layers found in the Talitha A well is important. "Starting from the bottom is Kuparuk, then two pelvic fans, and then we got a few ramp fan systems that we think are very promising, and then Shelf Margin Deltaic," he said. "After we drilled the Talitha well and obtained these important data, our imaging of the delta at the edge of the continental shelf has changed dramatically." Cheatham said that the company's land resources are dense. "So far, we have 1.6 or 17 billion barrels of oil, and we haven't counted all the oil reservoirs," he said. "We think we can harvest nearly 2 billion barrels." Do you find this article interesting? Tweet it to dig it | Click here to subscribe to oil news for as low as $89 per year.

Its Theta West 1 well-which will be drilled on the north slope this winter-is of great significance to the Pantheon Resources PLC subsidiary, and if the company's expectations for this well are met, it will also be of great significance to Alaska.

The Theta West ice pad will be located 10 miles west of the Talitha pad, where the GBP Talitha A exploration well produced light oil last winter.

"We think we are an important part of the future," Pantheon Resources CEO Jay Cheatham told Petroleum News in an interview on November 5.

He said that GBP also plans to re-enter the Talitha well this winter to resume testing in areas where there is no time for the winter exploration season to end in the spring of 2021.

The company expects to see the same area or even more in the Theta West well. For Pantheon, which has a market value of $770 million, the expected recoverable resources are huge.

"At least one billion barrels," said Bob Rosenthal, Pantheon's technical director. "We think we made one of the biggest discoveries in the world last year."

He said that GBP believes Theta West 1 is an appraisal well discovered in Talitha last winter.

"This discovery is of great significance anywhere in the world, whether it is in 5,000 feet of water, or in Alaska or Texas; it will have a huge and significant impact," Rosenthal said. "Its proximity to the infrastructure only amplifies this impact."

The Talitha well is located west of the Dalton Highway and Trans-Alaska Pipeline System and approximately 20 miles south of the Prudhoe Bay oil field. Roads and pipelines pass through the company's land.

"As we have repeatedly said, our findings extend below the pipeline," Rosenthal said.

Theta West slopes upward from Talitha

"It has risen thousands of feet, maybe 2,500 feet," Cheatham said. "Of course, normally, you would drill a hole on the top of the structure and start leaning down for evaluation; well, we drilled down the dipping part, and we will do a good evaluation on the up dipping part."

GBP is committed to extensive testing in the down-dipping Talitha well.

"I happen to think that this is a very brave move for us, because if we don’t find hydrocarbons there, if we don’t find reservoirs in that location, it will be difficult to raise funds to drill into the best location or close to the best location. It’s a good location, it’s going to be tilted upwards, and we’ll evaluate it there,” Rosenthal said. "But we did it, so when we drill the Theta West and evaluate it there, we will have two wells, one in the top position and the other-the Talitha-in a downdip position, which means we're far away Where there are hydrocarbons."

The company was surprised to find a 3,700-foot oil column in the Talitha A well; Cheatham said that it was originally expected to appear as high as 2,000 feet.

According to Rosenthal, in the lower basin floor fan of the Talitha well, the company encountered a 600-foot net-to-gross ratio of approximately 60%. A continuous tone shale."

GBP expects better results from the Theta West well.

"We believe that the thickness of the fan will double, maybe more, better quality, closer to the source," Cheatham said, adding that the crest is about 7,500 feet.

"To pass it-it's such a thick section, we might do a TD at about 9,500 feet," Rosenthal said. "It will be much shallower than what we drilled in Talitha, around 2,000 feet, and the burial depth is significantly smaller, so the degradation of the reservoir is also less."

"What we have is that these fan series are just one stacked on top of the other, such as five or six. When we drill the Theta West, we hope to have more fans," he said. "These things are stacked in place for geological reasons. We see these huge, stacked continuities of these individual fan-shaped complexes, one on top of the other, and their net value accounts for about 50-60% of the total income. ."

"With this, and our third data set, and the seismic rock physics we have been doing, I think we will have a case that can be submitted to the state and let us begin to develop a development plan," he said. "This is an evaluation well; we drill it, we test it. I think we can take it to the state government and ask them to help us put it into production."

GBP does not intend to build a large central production facility in Theta West; it will be gradually established.

Cheatham said that development will require hundreds of wells.

"We plan to use these mobile Arctic production systems, adding about 5,000-6,000 barrels per day-treating them as skids, we can plug them in during the development process," he said. "We don't have to do all this front-end engineering and design to fully optimize your production to extract the present value of the last dollar from it."

The design will minimize the need for pipelines throughout the development process.

"These are the production units where you process oil on site," Cheatham said. "That's why we don't need so many pipes when refilling the effluent into the reservoir."

He said that in order to improve land use efficiency and better oil recovery, GBP will use a single platform horizontal well.

"We will perform horizontal wells and multi-stage fracturing in all these reservoirs," Rosenthal said.

Cheatham said: "We need water to fracturing. We have studied water resources and we think there are a lot of water resources nearby."

"We believe that once we get the approval of the state government, we can start production in a few years and reach the peak... From a fairly conservative model, we say that Theta West's daily output is about 90,000 barrels," he said .

The company has additional development.

"This is just one of two or three, and we have some other developments that we can do," Rosenthal said. "The Alkaid development along the Dalton Highway we mentioned earlier may be super early production, and then our two units, our Talitha unit and the shelf edge delta of our Alkaid unit-part of which can be developed from the highway. "

"We believe that we can soon become an important player in Alaska," he said. "We are very happy that we own 100% of state-owned land."

"Since we are a new project, we will work hard-after we are in the development stage-to capture all our emissions and reinject them, so we will burn the associated gas to generate electricity; we will use all-electric fracturing pumps, all-electric drilling rigs Wait, capture the carbon dioxide and reinject it into the reservoir, this is our plan," Cheatham said.

Reinjection of carbon dioxide may increase oil recovery.

"It should help, keeping a little pressure will not cause harm," he said.

"We haven't modeled it yet, but of course, if you look at Prudhoe Bay, they have a huge recovery rate, partly because they not only inject water, but also maintain the pressure-the reinjection of gas," Cheatham Said. "As early as the 1950s, carbon dioxide was definitely used in reservoirs in western Texas."

Any unburned natural gas will also be re-injected.

"We will not have any emissions," he said.

Rosenthal is one of the founders of Great Bear, which merged with Pantheon in 2019. He said that the company has always been environmentally friendly.

"You may remember that we conducted a large-scale event called lidar research on slopes a few years ago," he said.

The company uses an airborne laser to analyze water resources and observe all the lakes in the area-pay attention to the depth of the lakes, which lakes have fish and which do not.

"One of the main reasons we do this is that we can do a large area, but the other is that you can minimize your impact," Rosenthal said. "The only other way to do this is to send staff to take measurements so you can get out of the tundra."

Great Bear showed that the method worked well, so it conducted additional airborne lidar research.

"When the Sag River was flooding, I believe the state conducted the lidar research we provided to them and used it to understand what the original river channel looked like so they could use it to correct the problem."

Partner farm in discussion

"What we can say is that our discussions with our partners on introducing farms are very advanced; we believe this will happen," Cheatham said. "We plan to drill this winter; we are looking for a partner to participate in the whole thing, and this is what we are discussing now."

The company has a backup plan.

"We must have cooperative farms or other financing methods," Cheatham said. "We don't have enough funds to drill the Theta West well, so we have been following multiple parallel paths in the past few months. We are very confident."

Pantheon is listed on the AIM section of the London Stock Exchange, but it is small and flexible.

"We have three employees in Anchorage, and we have several consultants," Cheatham said.

Cheatham said the accumulation of oil layers found in the Talitha A well is important.

"Starting from the bottom is Kuparuk, then two pelvic fans, and then we got a few ramp fan systems that we think are very promising, and then Shelf Margin Deltaic," he said. "After we drilled the Talitha well and obtained these important data, our imaging of the delta at the edge of the continental shelf changed dramatically."

Cheatham said the company's land resource density is huge.

"So far, we have 1.6 or 17 billion barrels of oil, and we haven't counted all the oil reservoirs," he said. "We think we can harvest nearly 2 billion barrels."

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