Oil exploration firm claims discovery of huge Alaska deposit

    Anchorage, Alaska (AP) - An oil exploration firm says it has discovered a deposit of potentially 1.8 billion barrels in Alaska’s North Slope region south of Prudhoe Bay.

    The Alaska Journal of Commerce reported Pantheon Resources PLC says it located the deposit along the Dalton Highway and Trans-Alaska Pipeline System corridor.

    The London-based company says it made an updated evaluation of an old exploration well and used information gleaned from recent nearby drilling.

    Pantheon CEO Jay Cheatham says the prospect called Talitha could ultimately produce about 500 million barrels of oil with peak production nearing 90,000 barrels per day.

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