Pantheon Resources acquired Great Bear Petroleum for $49m.

Pantheon Resources, the AIM-quoted oil and gas exploration and production company with onshore assets in East Texas and Alaska, acquired Great Bear Petroleum, which engages in exploration and development of oil and gas properties, for $49m. Jay Cheatham, CEO of Pantheon Resources, said: “I am extremely pleased that we have the opportunity to bring such quality assets into Pantheon, and to complete a significant fundraise in extremely difficult market conditions when other trans-actions are being pulled. The fundraise provides capital for an incredibly impactful winter testing with three significant wells, in both East Texas and Alaska. In addition to the geological prospects, the transaction delivers a very talented and experienced team who bring the added benefit of adding to our East Texas knowledge. 2019 will certainly be an exciting year for our company.”