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Talos Energy strikes oil and gas in Gulf of Mexico
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Talos Energy strikes oil and gas in Gulf of Mexico
Sep 6, 2024 12:58 PM

Sept 5 (Reuters) - U.S. company Talos Energy ( TALO )

said on Thursday it had discovered commercial quantities of oil

and natural gas in a subsea well in the Gulf of Mexico.

The company, backed by billionaire Carlos Slim, said the

Ewing Bank 953 well's preliminary data indicated an estimated 15

to 25 million barrels of oil equivalent (boe) in resources and

an initial gross production rate of 8,000-10,000 boe per day.

The well's first production is expected to start in

mid-2026, the company added.

Houston-based Talos Energy ( TALO ) had been part of a small list of

companies that made significant discoveries in the oil and gas

exploration areas in offshore Mexico.

"This discovery follows a series of successful single-well

subsea exploitation wells tied back to Talos-owned existing

infrastructure, like Venice and Lime Rock, Sunspear, and

Claiborne sidetrack," said interim CEO Joe Mills.

Talos has also signed an agreement to participate in a

separate prospective well named Sebastian, it said.

Oil and gas producer Murphy Oil ( MUR ) would be the

operator of the Sebastian prospect, where drilling results are

expected in the fourth quarter this year.

The prospect has an estimated gross resource potential of 9

to 16 million boe and a potential initial production rate of

6,000-10,000 boe per day, Talos said.

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