Offshore staff
HOUSTON — Talos Energy has made two commercial oil and gas discoveries in the deepwater US Gulf of Mexico (GoM).
The wells were drilled sequentially on the Lime Rock and Venice prospects. Talos estimates gross recoverable resources in the range 20 MMboe to 30 MMboe, comprising 40% oil and 60% liquids.
Drilling delivered 78 ft and 72 ft of net hydrocarbon pay in the primary targets at Lime Rock and Venice, respectively, with good geological properties, as confirmed by pressure, fluid and core samples
The company expects to develop both via subsea tiebacks, connected via a shared riser system to its Ram Powell platform, with combined production of 15,000 to 20,000 boe/d. Lime Rock is 9 miles from the platform, while Venice is 4 miles away.
Completion operations should follow in the second half of 2023, with first production from both wells expected by first-quarter 2024.
As operator of the two new finds with a 60% interest, Talos will collect volume-based production handling fees from its partners.
Ram Powell had produced about 250 MMboe when the company acquired the facility in 2018 and subsequently took various measures to raise production rates, cut costs and initiated a third-party production handling agreement.
It also applied proprietary seismic reprocessing techniques to recent vintage seismic surveys to identify new prospects nearby, which included Lime Rock and Venice.
The Lime Rock prospect was acquired in Lease Sale 256 in November 2020, while Venice was identified within the existing Ram Powell unit acreage.
Talos’ deepwater drilling campaign will continue with wells on the Rigolets and Lisbon prospects.
