Talos Vitality Inc. has found business portions of oil and pure fuel at its Ewing Financial institution 953 (EW 953) effectively within the Gulf of Mexico (GOM).
The EW 953 effectively encountered roughly 127 toes of internet pay within the goal sand at roughly 19,000 toes true vertical depth (TVD), Talos mentioned in a information launch.
Preliminary information point out an estimated gross recoverable useful resource potential of roughly 15 million – 25 million barrels of oil equal (MMboe) from a single subsea effectively with an preliminary gross manufacturing fee of 8,000 – 10,000 barrels of oil equal per day (boepd). First manufacturing is predicted in mid-2026, Talos said.
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Present plans are for the effectively to be tied again to the South Timbalier 311 Megalodon host platform, which Talos partially owns. Talos holds 33.3 % working curiosity (W.I.) within the EW 953 effectively, with Walter Oil & Fuel Corp. because the operator, holding 56.7 % W.I., and Gordy Oil Firm holding 10 % W.I.
Additional, Talos entered into an settlement to take part within the Sebastian prospect, presently drilling within the Mississippi Canyon Block 387 of the U.S. GOM.
The Sebastian prospect started drilling in late August 2024, concentrating on the regionally prolific Higher Miocene Okay-1 reservoir at roughly 12,000 toes TVD. This amplitude-supported prospect accommodates an estimated gross useful resource potential of 9 – 16 MMBoe with a possible preliminary manufacturing fee of 6,000 – 10,000 MBoe/d. Outcomes are anticipated late within the fourth quarter of the 12 months, in keeping with the discharge.
If profitable, Talos mentioned it plans to tie again the Sebastian prospect to the Delta Home facility, the place the corporate has a partial curiosity. Murphy Oil Company would be the operator.
Talos Interim President and CEO Joe Mills mentioned, “We’re excited concerning the outcomes of the Ewing Financial institution 953 effectively. The effectively logged higher than anticipated rock properties, which we consider ought to result in a strong preliminary circulate fee. This discovery follows a collection of profitable single-well subsea exploitation wells tied again to Talos-owned present infrastructure, like Venice and Lime Rock, Sunspear, and Claiborne sidetrack”.
Moreover, we have been in a position to embody the Sebastian prospect in our second-half 2024 drilling portfolio with out requiring updates to our capital expenditures steering for the 12 months. These drill-ready initiatives exemplify our concentrate on tactical, lower-risk alternatives that may be introduced on-line comparatively shortly and complement our bigger, longer lead drilling initiatives,” Mills famous.
In August, Talos introduced the acquisition of a 21.4 % working curiosity within the Monument discovery, positioned within the Walker Ridge space within the GOM.
Monument is a big Wilcox oil discovery positioned in Walker Ridge blocks 271, 272, 315, and 316. The acquisition worth is $32 million, Talos mentioned in its newest earnings launch.
Monument shall be developed as a subsea tie-back to the Shenandoah manufacturing facility in Walker Ridge. The Monument discovery is post-FID with appraised proved plus possible gross reserves of roughly 115 million barrels of oil equal (boe), in keeping with the discharge.
First manufacturing is predicted by late 2026 between 20,000 to 30,000 barrels of oil equal per day (boepd) gross underneath restricted circulate on account of facility fee constraints. There may be a further 25 million to 35 million boe drilling location adjoining to the invention that would prolong the useful resource and Talos’ pipeline of drill-ready alternatives, it famous.
Different companions in Monument embody Beacon as operator with 30.0 % curiosity, Navitas Petroleum with 28.6 %, and Repsol E&P USA Inc. with 20 %.
To contact the writer, e mail rocky.teodoro@rigzone.com
