Talos makes commercial finds in the Gulf of Mexico

Talos Energy has hit commercial quantities of oil and gas at its Lime Rock and Venice prospects in the US Gulf of Mexico, the independent E&P company announced on Tuesday.

The company discovered 23.8 metres and 22 metres of net hydrocarbons pay at the Lime Rock and Venice prospects respectively during its drilling campaign in Q4 2022.

Gross recoverable resources on the plays are estimated to be between 20 million to 30 million boe, averaging 40% oil and 60% liquids.

Completion operations are set to finish in 2023, with first production from both wells planned for Q1 2024.

The plays are expected to produce 15,000-20,000 boepd and will both be tied back to the company’s existing 100%-owned Ram Powell platform.

Talos Energy owns a 60% share of both fields.

“Demonstrating our ability to successfully leverage existing infrastructure also reinforces the strategic merits of our pending acquisition of EnVen Energy Corporation, which will double our deepwater infrastructure footprint by adding six major facilities,” said Timothy S. Duncan, president and CEO of Talos Energy.

The company signed agreements to acquire EnVen Energy Corporation in September 2023.