Pantheon Resources plc announced successful completion of the hydraulic fracture stimulation on the Dubhe-1 well. Operations commenced on 30 September 2025 with equipment and personnel being mobilised from Alaska, Canada and the US Lower 48 states. The stimulation consisted of 25 individual "plug and perforate" stages of approximately 200 ft each.
The programme proceeded in line with expectation with full placement of both water and sand. There were no spills or safety incidents of any kind during this operation. This represents an excellent result given Pantheon's limited prior experience treating this specific reservoir and utilising a full set of new contractors, including some that had not previously worked in Alaska.
Over the coming weeks, the plugs set in the wellbore to separate the fracture simulation stages will be drilled out with coiled tubing, and 2-7/8 inch production tubing will be installed. The well will then be connected to a temporary well testing system for the commencement of flow testing operations. The Company expects to release further information, in line with its regulatory requirements, as the programme proceeds.
