Talos Energy Inc. made an oil and natural gas discovery at its Ewing Bank 953 (EW 953) well with of up to 25 MMboe of resources in the U.S. Gulf of Mexico, the E&P announced Sept. 5.
Separately, the company also said it entered into an agreement to participate in the Sebastian prospect, currently drilling in the GoM’s Mississippi Canyon. Talos did not provide details on what entity it had made the agreement with. Murphy Oil Corp. is the operator.
At Ewing Bank, Talos said the well encountered about 127 ft of net pay in the targeted sand at approximately 19,000 ft of true vertical depth. Preliminary results from the single subsea well show an estimated gross recoverable resource of 15 MMboe to 25 MMboe with an initial gross production rate of 8,000 boe/d to 10,000 boe/d.
"The well logged better than expected rock properties, which we believe should lead to a robust initial flow rate,” Joe Mills, Talos’ interim president and CEO, said in a press release about the discovery. “This discovery follows a series of successful single-well subsea exploitation wells tied back to Talos-owned existing infrastructure, like Venice and Lime Rock, Sunspear and Claiborne sidetrack.”
Talos holds 33.3% working interest in EW 953. Walter Oil & Gas Corp. is the operator and holds 56.7% working interest and Gordy Oil Co. holds 10% working interest.
First production is expected in mid-2026, with the well tied back to Talos’ partially owned South Timbalier 311 Megalodon host platform.
Talos also said on Sept. 5 that it is participating in the Sebastian prospect in the Mississippi Canyon Block 387 in the GoM, which began drilling in late August. The prospect is targeting the Upper Miocene K-1 reservoir at a true vertical depth of approximately 12,000 ft. Talos described the reservoir as “regionally prolific.”
“We were able to include the Sebastian prospect in our second-half 2024 drilling portfolio without requiring updates to our capital expenditures guidance for the year,” Mills said.
The prospect is targeting an estimated gross resource potential of 9 MMboe to 16 MMboe with an initial production rate of 6,000 boe/d to 10,000 boe/d. Results are expected late in the fourth quarter, and if successful, Sebastian will be tied back to Talos’ partially owned Delta facility.
“These drill-ready projects exemplify our focus on tactical, lower-risk opportunities that can be brought online relatively quickly and supplement our larger, longer lead drilling projects," Mills said.
Mills became CEO last week following the unexpected departure of Tim Duncan, who had served as president and CEO and was a founder of the company.