Pantheon Resources Plc (PTHRF)

[WOOFERHEAD]

Pantheon! Pantheon! Pantheon! Honorably mentioned!

Gov. Dunleavy says Alaska doesn’t flare its natural gas. It does.

https://www.ktoo.org/2023/02/03/gov-dunleavy-says-alaska-doesnt-flare-its-natural-gas-it-does/

Commission allows gas flaring for oil field testing
In August, Great Bear Pantheon, an Anchorage-based subsidiary of a London firm, requested permission to flare gas from a prospective oil well for nine months in order to test the production of a possible oil field.


Flaring for new test wells is typically limited on the North Slope because they’re normally only accessible by cold-weather-dependent ice roads, but Great Bear’s site is near the Dalton Highway, which makes year-round access — and testing — possible.

Pat Galvin, husband of Rep. Alyse Galvin, I-Anchorage, and an official at Great Bear, said the planned gas release is limited and helps the company determine the extent of its oil find. If proved and developed, that find could generate millions in revenue for the state. If testing turns into production, future gas would be captured, he said.

The AOGCC noted that the length of the flare was unusual, but it ultimately approved the request, noting that it was “necessary to determine if Great Bear has made an economic discovery and to be able to design production facilities for a full field development.”

The rules on state land here in Alaska, as in Great Bear’s case, are different. Economics, not environmentalism, is the guiding principle.

Trustees for Alaska, an environmental organization, petitioned AOGCC to reject Great Bear’s flaring request, citing the impact on the atmosphere, but the commission didn’t address that issue in its final determination.

GLTA

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