Pantheon Sees 25% Resource Boost at Kodiak Oil Field

Pantheon Resources PLC reported a narrowed operating loss of $6.1 million for H1, down from $7.9 million in the prior year, due to a 22% reduction in administrative expenses. The company completed its 2026 Kodiak seismic reprocessing programme, which is expected to increase the recoverable resource estimate at its Kodiak oil field in Alaska by at least 25%. Pantheon is negotiating with potential farm-out partners and has cash of $5.5 million, with resources expected to last through year-end. If a farm-out is not completed, the company may seek to raise up to $15 million before year-end.