Offshore staff
HOUSTON — Talos Energy Inc. has started oil and natural gas production at its Lime Rock and Venice discoveries, located near its 100% owned and operated Ram Powell platform in the US Gulf of Mexico (GoM). Talos owns a 60% working interest in both wells.
The Lime Rock and Venice wells were brought safely online in late December 2023 and have achieved an initial combined gross production rate of more than 18,500 boe/d, averaging about 45% oil and 55% liquids, according to Talos. The estimated combined gross ultimate recoverable resources of these two discoveries are about 20 MMboe to 30 MMboe.
In addition to Talos's net production, the company will collect volume-based production handling fees from non-operated partners in both discoveries.
The Lime Rock prospect was acquired in Lease Sale 256 in November 2020 and is about seven miles from the Ram Powell facility. The Venice prospect was identified within the existing Ram Powell unit acreage about three miles from the Ram Powell facility. Talos initially held a 100% working interest in both prospects before successful farm-downs to achieve its targeted 60% working interest.
Talos President and CEO Timothy S. Duncan said, "The safe startup of Lime Rock and Venice in less than 12 months is an extraordinary achievement by our operations team, which included new subsea installation and facility upgrade work. These prospects exemplify our strategy of utilizing purchased infrastructure and seismic imaging technology expertise to identify new and valuable investment opportunities to grow reserves and production to meet growing energy demand. With these production additions, the Ram Powell facility is expected to achieve the highest combined sustainable production rate since approximately 15 years ago."
In late December 2023, Talos announced portfolio additions from Lease Sale 261 results and execution of acreage consolidation agreements. The company was the apparent high bidder on 13 deepwater blocks offered under the recent Outer Continental Shelf Federal Lease Sale 261 in the US GoM held by the Bureau of Ocean Energy Management.
01.03.2024
