Oil and gas exploration and production company, Pantheon Resources, have announced they are to increase their working interest in VOBM#5 well, in Polk County, East Texas.
Oil and gas exploration company, Pantheon Resources, has kicked-off the drilling of its Wilcox formation development.
Pantheon Resources said that a service agreement had been signed for a fracked well onshore Texas.
Pantheon Resources said a sidetrack well has been drilled and will now be completed ahead of testing.
Shares in Pantheon Resources soared in early trading in London after the company revealed two new “potentially significant” hydrocarbon deposits in East Texas.
Pantheon Resources has appointed Phillip Anthony Gobe as Senior Independent Non-Executive Director with immediate effect.
Pantheon Resources has successfully launched its third drilling campaign in East Texas.
Pantheon Resources has been given the go-ahead for its onshore exploration plans in East Texas.
The chief executive of Pantheon Resources said he had “never been more certain about the future of his company”.
Pantheon Resources confirmed its onshore well in the Eagle Ford sandstone had paid off.