This run uses bucket A, new discoveries and appraisal results, for a resource revision at an undrilled Southeast Asian gas prospect. Tetragon Energy raised its gross mid case estimate for Halcon offshore the Philippines to 8.0 Tcf from 2.6 Tcf. The figure describes prospective gas, not a discovery or reserve.
Halcon lies in Service Contract 80, offshore the Bangsamoro Autonomous Region of Muslim Mindanao. Tetragon operates the permit with a 37.5% interest, while Sunda Energy also holds 37.5%. PXP Energy and Philodrill each hold 12.5%.
The gross low case estimate rose from 188 Bcf to 1.7 Tcf, while the high case moved from 19.9 Tcf to 22.6 Tcf. Tetragon also increased the estimated geological chance of success to 24% from 18%. Sunda has about 3.0 Tcf of net mid case prospective gas through its interest.
Tetragon is reprocessing about 4,600 square kilometres of existing 3D seismic data across its Philippines acreage. Initial results are due in early 2027, with the complete dataset expected around the middle of that year. The company plans to approach international operators about funding future exploration drilling. A larger mapped target may help secure that capital, but a well still has to prove the prospect.