The industry backdrop in Alaska is a boon for r Pantheon Resources (AIM:PANR) as it seeks farm-in partners, that's the view of City analyst Daniel Slater.
Slater, working for Zeus Capital, in a new note, argues that recent Alaska developments, the legislature’s consideration of tax relief for the Alaska LNG project, Glenfarne’s new ConocoPhillips supply agreement and Santos/Repsol bringing Pikka onstream, materially improve the market that Pantheon is operating in.
He says this matters because the London-listed junior holds over 6 tcf of discovered 2C gas, and about 1.8bn barrels of 2C liquids, and faster progress towards a final investment decision (FID), and pipeline access, would enhance the assets’ development prospects and attractiveness.
The analyst, specifically, points to signals, like Pantheon’s participation in the state session alongside ExxonMobil, ConocoPhillips and Hilcorp, and Glenfarne’s 30‑year North Slope supply deal, that would support the idea that the small cap is making progress.
Zeus looks forward to Pantheon’s operational update due in the second quarter as an upcoming potential catalyst to look out for, in expectation of more timeline and project details.
