Talos Power Inc. mentioned it encountered oil on the Daenerys exploration prospect situated within the U.S. Gulf of America’s Walker Ridge blocks 106, 107, 150, and 151.
The invention properly was drilled to a complete vertical depth of 33,228 toes using the West Vela deepwater drillship and encountered oil pay in a number of high-quality, sub-salt Miocene sands, the corporate mentioned in a information launch.
Talos carried out a complete wireline program, buying core, fluid, and log knowledge to judge the reservoir.
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The properly was drilled roughly 12 days forward of schedule and delivered roughly $16 million beneath price range, Talos mentioned.
Planning is underway for an appraisal properly to additional outline the found useful resource, and the invention properly has been quickly suspended to protect its future utility, the corporate mentioned.
Talos President and CEO Paul Goodfellow mentioned, “We’re inspired by the outcomes of our Daenerys discovery properly, which confirms the presence of hydrocarbons and validates our geologic and geophysical fashions. We imagine these outcomes help Talos’ pre-drill useful resource assumptions. We at the moment are working intently with our companions to design an appraisal program that may additional delineate this thrilling discovery. We anticipate spudding the appraisal properly within the second quarter of 2026”.
Talos, as operator, will maintain a 27% p.c working curiosity within the asset. Shell Offshore Inc. will maintain a 22.5 p.c working curiosity, Purple Willow will maintain 22.5 p.c, Houston Power, L.P. will maintain 10 p.c, Cathexis will maintain 9 p.c, and HEQ II Daenerys LLC will maintain 9 p.c, based on the discharge.
Daenerys is a high-impact subsalt prospect that carries an estimated pre-drill gross useful resource potential between 100 million to 300 million barrels of oil equal.
In June, Talos mentioned it was implementing an “enhanced company technique designed to place the corporate as a number one pure-play offshore exploration and manufacturing firm”.
Talos mentioned it’s focusing on roughly $100 million in elevated annualized money circulate in 2026 by way of capital effectivity, margin enhancement, industrial alternatives, and normal organizational enhancements, based on its most up-to-date earnings launch.
The corporate mentioned it plans to spend money on high-margin natural initiatives, “complemented by disciplined, accretive bolt-on acquisitions in deepwater basins, which can improve manufacturing and profitability”. Talos mentioned it plans to “take a strategic and measured strategy in assessing alternatives inside the Gulf of America and different typical offshore basins,” noting {that a} scaled portfolio will present “important manufacturing development potential, and in the end the flexibility to generate long-term constant free money circulate”.
In January, Talos mentioned it found industrial portions of oil and fuel on the Katmai West #2 properly within the Ewing Financial institution space of the U.S. Gulf of America.
The Katmai West #2 properly was drilled considerably beneath price range and forward of schedule to a real vertical depth of roughly 27,000 toes, Talos mentioned in an earlier assertion. The properly “encountered the first goal sand full-to-base with over 400 toes of gross hydrocarbon pay and glorious rock properties consistent with pre-drill expectations,” the corporate said.
Talos added that the sturdy efficiency from Katmai West #1 properly, and the profitable appraisal from Katmai West #2 properly, have almost doubled the proved estimated final restoration of Katmai West discipline to roughly 50 million barrels of oil equal (MMBoe) gross, which additional affirms its anticipated whole useful resource potential of roughly 100 MMBoe gross.
To contact the creator, electronic mail rocky.teodoro@rigzone.com
