Monument the project continues to progress according to schedule and maintains its goal of initiating first oil production before the end of 2026. Beacon Offshore Energy confirmed the start of drilling on the second development well after the first well validated the geological forecasts of the reservoir by encountering approximately 250 feet of net productive thickness in Walker Ridge, in the Gulf of Mexico.
Monument confirms the potential of the site
The first development well reached a measured depth of 32.250 pies and confirmed around 250 feet of net productive thickness these results support the estimates made prior to the drilling campaign. This progress allows Beacon Offshore Energy to proceed with the next phase of field development.
The company will then begin drilling the second development well and subsequently complete both wells. Initial gross production is estimated to be between 20,000 and 30,000 barrels of oil equivalent per day (boe/d), with the goal of achieving the first production before the end of 2026.
Development via a submarine connection to Shenandoah
The discovery Monument located in the Wilcox Formation within blocks 271, 272, 315 and 316 of Walker Ridge, it is developed through a submarine connection (tie-back) towards the production facility Shenandoah.
This strategy allows leveraging existing infrastructure to reduce development times and optimize the investment required to bring the field into production. The facility Shenandoah has a firm, committed capacity to 20,000 barrels of oil per day, which will facilitate the incorporation of production from Monument.
Beacon Offshore Energy operates the project with a stake of 41,7 % while Talos Energy maintains the 29,7 % and Navitas Petroleum he 28,6 % remaining.
Talos promotes new drilling campaigns
Talos Energy also reported that the appraisal well Daenerys operations began on July 1, 2026 and continues to progress according to schedule. The results of this campaign are expected by the end of this year.
The original discovery well was drilled to a total vertical depth of 33.228 pies using the drillship West Vela providing the information necessary to develop the current evaluation stage.
In this project, Talos acts as the operator with a stake of 27 %, accompanied by Shell Offshore (22,5 %), Red Willow (22,5 %), Houston Energy (10 %), HEQ II Daenerys (9 %) y Cathexis (9 %).
Talos expands its exploration presence in Honduras
In addition to its activities in the US Gulf, Talos continues to strengthen its international portfolio through agreements to acquire an operating stake in 80 % in an exploratory block of more than 4 million gross acres off the coast of Honduras, while CaribX will retain the 20 % remaining.
The company has already closed the acquisition of an operating stake in 45 % and assumed the operation of the asset, the purchase of the 35 % the additional work remains subject to approval by the Honduran Energy Secretariat (SEN), an authorization that is expected to be obtained in approximately 90 days.
The agreement also includes an initial campaign of 3D seismic during the second half of 2026 and the possibility of participating in an exploratory well depending on the results obtained.
According to Talos, the area offers exploration opportunities in both shallow and deep waters and includes undrilled Miocene prospects within an active petroleum system. The company added that the agreement structure incorporates a seismic cost financing scheme (seismic carry) and a minimum reimbursement of sunk costs, allowing access to a wide exploratory potential with a low entry cost.
Source: Offshore Energy
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