Talos details GoM lease sale awards, exchange arrangements with three majors

Jan. 2, 2024
Talos Energy was the apparent high bidder on 13 deepwater blocks offered under the recent Outer Continental Shelf Federal Lease Sale 261 in the US Gulf of Mexico (GoM).

Offshore staff

HOUSTON Talos Energy was the apparent high bidder on 13 deepwater blocks offered under the recent Outer Continental Shelf Federal Lease Sale 261 in the US Gulf of Mexico (GoM) held by the Bureau of Ocean Energy Management (BOEM).

The company’s haul comprised about 74,000 gross acres (48,000 net acres.) Award of leases for all the blocks remain subject to confirmation by the US Department of the Interior.

In addition, Talos executed lease exchange agreements with bp, Chevron and Hess, which will lead to the parties consolidating acreage covering 15 blocks in the deepwater Green Canyon area.

The arrangement should allow them to pursue prospective drilling opportunities more efficiently on the acreage, which includes several identified prospects, Talos said. Its own participation in the blocks will likely range from 15-20%.

"The proximity of these prospects to our existing assets, including Ram Powell, Pompano, Prince and Brutus facilities, bolsters our infrastructure-led, near-field strategy in the Gulf of Mexico while providing opportunities to lower the overall carbon intensity of our assets over time," President and CEO Timothy S. Duncan said in a Dec. 22 company news release.

01.02.2024