Pantheon Resources has been given the go-ahead for its onshore exploration plans in East Texas.
The firm plans to carry out a fracture stimulation and testing procedure for its VOS#1 well in Tyler County.
Chief executive Jay Cheatham said: “I am pleased to announce that we have been granted the permit to perform the fracture stimulation test on the VOS#1 well and as part of this we also now have the opportunity to gain valuable data from the independent Austin Chalk zone, above the discovered Eagleford sandstone section. I am also pleased to note that the VOBM#2H well is proceeding in line with expectations, which is a great achievement given it is the first horizontal Eagleford sandstone well in the area. We couldn’t pass up the opportunity to frack the Austin Chalk in this vertical well.”
The earliest work can be carried out is August, according Pantheon.