Talos details Gulf of Mexico drilling campaigns

Talos Energy Inc. has issued an update on its operations in the Gulf of Mexico.

Offshore staff

HOUSTONTalos Energy Inc. has issued an update on its operations in the Gulf of Mexico.

TheHelix Producer 1drydock project was completed in 1Q 2019. The HP-1 departed the shipyard on March 7, 2019. After a period of sea trials, Talos expects production from the Phoenix complex to re-start on or about March 20, 2019, resulting in a total shut-in period of 56 days.

The Tornado 3 well was drilled in December 2018 and is scheduled to begin completions operations in late March, with an expected duration of 21 days. The well is anticipated to start production by early 2Q 2019, with an expected gross production rate between 10,000-15,000 boe/d, or 5,000-7,500 boe/d net to Talos after royalties. Talos is the operator and owns a 65% working interest, with Kosmos Energy owning the remaining 35% working interest.

In January, the Boris 3 well was spudded and drilled to a TD of about 15,000 ft (4,572 m) and logged about 75 ft (23 m) gross and 56 ft (17 m) net of true vertical pay, 360 ft (110 m) updip of 27 MMboe of historical production in the B-4 Sand. Boris 3 is scheduled to begin completion operations in mid-April with an expected duration of 21 days and is expected to initiate production in 2Q 2019. Initial production is expected to be between 3,000-5,000 boe/d gross, or 2,800-4,600 boe/d net to the company after royalties. Talos is the operator and owns 100% working interest in all Boris wells.

The company has signed a participation agreement with a subsidiary of EnVen Corp. to drill the Bulleit prospect on Green Canyon block 21. Talos will be the operator and has an initial working interest of 66.7% in the lease. Bulleit is an amplitude-supported Pliocene prospect with similar seismic attributes to the analogous sand section in the company’s Green Canyon block 18 field, which has produced about 39 MMboe to date.

It expects to spud the well in 2Q 2019. If successful, the well would be completed and tied back to the Talos-owned and -operated facility on Green Canyon block 18 approximately 10 mi (16 km) away. Talos anticipates first production within 12-18 months from spud date and estimates that Bulleit has the potential to deliver initial production between 8,000-15,000 boe/d gross on an unrisked basis.

The company has signed a participation agreement to engage in the drilling of the Orlov prospect on Green Canyon block 200. Fieldwood Energy will be the operator and Talos has a working interest of 30% in the prospect. Orlov is an amplitude-supported Miocene prospect with similar geophysical and structural attributes to the Talos-operated Boris field, which has produced approximately 27 MMboe to date.

The well is expected to spud near the end of 1Q 2019. If successful, the well would be completed and tied-back to the Fieldwood-operated Bullwinkle fixed-leg production platform on Green Canyon block 158. First production is anticipated within 12-18 months from spud date and estimates that Orlov has the potential to deliver between 8,000-15,000 boe/d gross on an unrisked basis.

On Jan. 23, 2019, Talos acquired 100% interest in the Antrim discovery on Green Canyon block 364 from ExxonMobil. In November 2017, Exxon drilled an exploration well that encountered hydrocarbons in a subsalt Miocene reservoir. Talos plans to drill an additional well to further appraise the discovered resource. If the appraisal is successful, the company is currently considering a tieback to its GC 18 facility, which it acquired fromWhistler in 2018.

03/14/2019

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