Pantheon Resources has announced an operational and cost update on the Dubhe-1 well in the Ahpun field on the North Slope of Alaska, US. 

The US-based company is continuing well clean-up activities at Dubhe-1, where production is currently dominated by previously injected stimulation fluids. 

Intermittent oil production began on 3 November 2025 and consistent small oil volumes have been observed since around mid-November. 

Gas production volumes are said to have increased during this period and around 40% of the injected water volume has been produced to date. 

Steady gas production has been accompanied by modest output of light oil. 

Pantheon Resources’ closest analogue to Dubhe-1 is the SMD-B interval in Alkaid-2, which was flow tested in 2023. 

In Alkaid-2, the first measured oil production occurred when a water volume equivalent to around 50% of the injected water had been produced. 

The well clean-up is set to continue until a representative oil flow rate can be determined. 

As Dubhe-1 features multiple fracked stages, the clean-up profile may differ from previous single-zone completions, as each stage may clean up at different times. 

Pantheon Resources CEO Max Easley said: “I continue to be pleased with the ongoing safe and efficient execution of our operations to date and look forward to sharing more about Dubhe-1 results when we have them.” 

In May this year, Pantheon estimated drilling costs for Dubhe-1 at around $10m for drilling a well up to 5,000ft lateral or horizontal, and roughly $15m for well completion. 

However, the company decided to drill a pilot hole during final planning and data gathering to collect core samples, refine the target landing zone, and reach both the deeper Slope Fan System and shallower SMD-C reservoir. 

The final cost for drilling and completing Dubhe-1 was aprroximately $33m, including the pilot hole for assessing shallow and deep horizons and the acquisition of whole and sidewall cores. 

Pantheon said that the cost outcome, which includes full appraisal scope and contingency measures, is not detracting from solid operating performance. 

The contingency measures include the standby drilling rig, coil tubing unit, based on experience at Alkaid-2, and inflationary pressures. 

Pantheon expects the construction of the new Dubhe pad, which will be available for future wells, to cost $2.5m. 

The company said that the costs for clean-up, flow-back and well-testing operations will be determined at the end of the programme.