Talos Energy announced a breakthrough oil and natural gas discovery at its Ewing Bank 953(EW 953) well in the Gulf of Mexico. In addition, the company signed an agreement to participate in the Sebastian prospect, another key project that began drilling in August 2024 in Mississippi Canyon Block 387.
A major oil and gas discovery in the well.
The EW 953 well revealed approximately 127 feet of net area in its target, located at a depth of 19,000 feet. Preliminary data suggests that the well has an estimated potential of between 15 and 25 million barrels of oil equivalent(MMBoe). With an estimated initial production rate of between 8,000 and 10,000 barrels of oil equivalent per day(MBoe/d), first production is expected to occur in mid-2026.
This well will connect to the South Timbalier 311 Megalodon platform, where Talos owns a 33.3% working interest, while Walter Oil & Gas, operator of the well, owns 56.7%, and Gordy Oil Company, 10%.
On the other hand, the Sebastian prospect targets the Upper Miocene K-1 reservoir, with a target depth of 12,000 ft. Resource potential is estimated at 9 to 16 MMBoe, and the production rate could reach 6,000 to 10,000 MBoe/d. Results from this project are expected by the end of the fourth quarter of 2024. Murphy Oil Corporation will be the operator on this prospect, and Talos has an interest in the Delta House facility, where this project will be integrated if successful.
Joe Mills, president and interim CEO of Talos, expressed his enthusiasm for the success at the EW 953 well, noting the better-than-expected rock properties, which anticipate solid production. This discovery follows several successful subsea wells successful wells tied back to Talos’ existing infrastructure, such as the Venice, Lime Rock, Sunspear and Claiborne Sidetrack projects.
Talos also assured that the addition of the Sebastian prospect will not require changes to its capital spending guidance for the year. Mills stressed that these projects highlight the company’s focus on lower-risk, quick-start tactical opportunities, complementing its efforts on long-term drilling projects.
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Source: Talos Energy
Photo: Shutterstock
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