UK-based oil exploration firm Pantheon Resources believes it has a huge 1.8-billion-barrel oil discovery in Alaska after evaluating an old exploration well with modern technology, the company’s top executives told the Alaska Journal of Commerce . Despite the low oil prices, Pantheon Resources believes that the discovery could become commercial and viable at oil prices around $30 per barrel, Jay Cheatham, chief executive at Pantheon Resources, told the Alaska Journal of Commerce in an interview. The discovery is south of Prudhoe Bay and along the Dalton Highway and Trans-Alaska Pipeline System corridor. The proximity to Dalton Highway is very advantageous for the company to develop the resource, according to Cheatham. The discovery, named Talitha, could be able to produce as much as 500 million barrels of oil, while peak oil production could be almost 90,000 barrels per day (bpd), Cheatham said. The company has another prospect, Greater Alkaid, for […]