Pantheon Resources PLC - oil and gas company, focused on developing the Ahpun and Kodiak onshore oil fields in Alaska - Announces that, alongside Alaska Gasline Development Corp, Great Bear Pantheon LLC, Pantheon’s subsidiary, has entered into a gas sales precedent deal with AGDC subsidiary, 8 Star Alaska LLC. According to the contract, Pantheon agrees to supply up to 500 million cubic feet per day of natural gas at a maximum base price of $1 per million British thermal unit in 2024 dollars. The US state of Alaska also has several options to reduce the natural gas unit price by working with Pantheon to reduce the cost of project financing.
Pantheon Executive Chair David Hobbs comments: ‘We are delighted to have the opportunity to create a win-win for the State of Alaska and for Pantheon as we turn the fantastic exploration & appraisal success of the past five years into the development of two giant oil and gas fields on Alaska’s North Slope.’
Current stock price: 35.60 pence each, up 27% in London on Wednesday
12-month change: more than double 16.54p
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