Pantheon Acquires Final 25% Working Interest in Alkaid, Phecda Prospects -- Deal Digest
17 Ottobre 2019 - 11:04AM
Dow Jones News
By Adriano Marchese
ACQUIRER: Pantheon Resources PLC (PANR.LN).
SELLER: Halliburton Co. (HAL).
TARGET: 25% working interest in the six leases jointly held with
Pantheon on the North Slope of Alaska.
PRICE: Pantheon will accept full responsibility for all future
lease obligations.
RATIONALE: The company said that upon the conclusion of this
transaction which will bring its ownership in the Alkaid/Phecda
project to 100%, and it will now hold a 90% to 100% working
interest in around 177,000 gross acres containing potential for 1.2
billion barrels of oil recoverable, located in close proximity to
the North Slope of Alaska's major highway and pipeline
infrastructure.
STOCK MOVE: At 0824 GMT, shares are up 0.4 pence, or 2.4%, at
17.4 pence.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 17, 2019 04:49 ET (08:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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