Talos Energy Announces First Quarter 2021 Results
Key Highlights:
Successful high-impact sub-salt Miocene deepwater exploration discovery at Puma West, located approximately 15 miles from the prolific Mad Dog field.
Successful multi-well drilling program at Green Canyon 18 concluded. Rig mobilizing to Pompano to begin multi-well campaign.
Completed two high-yield transactions that increased liquidity and materially extended the Company s maturity profile.
Record production of 66.1 thousand barrels of oil equivalent per day ( MBoe/d ) net (68% oil, 76% liquids). This is the Company s highest quarterly production since inception.
Net Loss of $121.5 million, inclusive of $137.5 million in commodity hedging losses, or $1.49 loss per diluted share, and Adjusted Net Loss
Deepwater Oil Find Said Sign of Existing Opportunities in U.S. Gulf of Mexico
BP plc said it has struck oil at the Puma West prospect offshore Louisiana near its Mad Dog platform in the deepwater Gulf of Mexico (GOM).
The well in Green Canyon Block 821 was drilled by BP, operator and owner of the block, on behalf of co-owners Chevron U.S.A. Inc. and Talos Energy Inc., each with a 25% stake.
“We are very excited about this discovery as well as the broader potential in this area,” Talos CEO Timothy S. Duncan said. “Puma West is a great example of the class of high impact catalyst opportunities still available in the U.S. Gulf of Mexico.
bp has announced an oil discovery at the Puma West prospect in the deepwater U.S. Gulf of Mexico. The well, on Green Canyon Block 821, was drilled by bp on behalf of co-owners Chevron and Talos Energy. It is located west of the bp-operated Mad Dog field.
The well, on Green Canyon Block 821, was drilled by BP on behalf of co-owners Chevron and Talos Energy.
BP holds a 50 per cent working interest and is the operator with Talos and Chevron each holding a 25 per cent working interest.
It is located west of the BP-operated Mad Dog field and is approximately 131 miles off the coast of Louisiana in 4,108 feet of water.
BP and its partners first started drilling the well in late 2019 using Seadrill’s West Auriga drillship only to suspend it in January 2020 after setting casing below salt and reaching a true vertical depth of approximately 21,500 feet. Operations re-started in the fourth quarter of 2020.
BP Strikes Oil in Deepwater Puma West Prospect Near Mad Dog
BP plc said it has struck oil at the Puma West prospect offshore Louisiana near its Mad Dog platform in the deepwater Gulf of Mexico (GOM).
The well in Green Canyon Block 821 was drilled by BP, operator and owner of the block, on behalf of co-owners Chevron U.S.A. Inc. and Talos Energy Inc., each with a 25% stake.
The well, west of the BP-operated Mad Dog field and platform, is 131 miles off the Louisiana coast in 4,108 feet of water. Total depth for the well is 23,530 feet.
“Our resilient and focused hydrocarbons business is core to BP’s strategy, and in the Gulf of Mexico we invest and explore in the reservoirs we know best,” said Senior Vice President Starlee Sykes, who oversees Gulf of Mexico and Canada operations.