Post Tagged with: "Zama"

Source: EnscoRowan

Talos Completes Zama Appraisal

By Tyler Losier, Energy Reporter, Oil & Gas 360 Third and final appraisal well drilled, FID expected by 2020 Talos Energy Inc. (stock ticker: TALO), an independent E&P headquartered in Houston, has completed its Zama appraisal program in Block 7 of Mexico’s offshore Sureste Basin. Block 7 is owned by a consortium of companies, including Sierra Oil & Gas, Wintershall DEA and Premier Oil, with Talos serving as the operator. The appraisal process began with Zama-1, the original discovery well, after which the consortium drilled three other appraisal penetrations – Zama-2, Zama-2 STI 1, and Zama-3 – to help better define the resource potential of the location. Source: Premier Oil Zama-3, the most recent well, was… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

From S&P Global Platts Houston — Gulf of Mexico operator Talos Energy may be interested in buying some of Anadarko Petroleum’s deepwater Gulf of Mexico assets that Occidental Petroleum will acquire in its pending $57 billion purchase of that company, Talos’ CEO said Thursday. In addition, Talos – the first foreign company to make a discovery in Mexico’s offshore in about 80 years – may look elsewhere in the world for another key offshore basin where it can put to use the expertise it has developed in the broader Gulf of Mexico, Tim Duncan said at the Association of International Petroleum Negotiators’ 2019 International Petroleum Summit. Anadarko, a long-time deepwater Gulf of Mexico player, was one of the first companies to widely publicize the high-return, quick production tieback strategy that has made the US Gulf a more profitable operating arena today. That strategy contributed to a gradual comeback after years[Read More…]

Talos Starts Final Zama Appraisal Well

Talos Starts Final Zama Appraisal Well

Frontloaded CapEx: Talos spends 32% of yearly budget By Richard Rostad, analyst, Oil & Gas 360 Talos Energy (ticker: TALO) announced first quarter results today, showing a net loss of $109.6 million, or ($2.02) per share. Talos spent $155.6 million in the quarter, up from the $142.4 million the company spent in Q4. Talos reports its capital program is heavily front-loaded in 2019, as the company has already spent one third of its annual budget. Talos produced an average of 42 MBOEPD in Q1 2019, down from the 53.4 MBOEPD the company produced in Q4. This drop is primarily due to maintenance-related shutdowns, though, and Talos output averaged over 60 MBOEPD last week. Talos’ Phoenix complex, consisting of multiple nearby fiel… Login or click here to subscribe

Talos Energy Begins Zama Appraisal Program

Talos Energy Begins Zama Appraisal Program

Talos Energy Announces Commencement Of Zama Appraisal Program

December 4, 2018 - 6:30 am Closing Bell Story, Offshore, Press Releases
Talos Energy Wins Key Approval: CNH Okays Zama Appraisal Plan

Talos Energy Wins Key Approval: CNH Okays Zama Appraisal Plan

Appraisal program to be completed by mid-2019 Talos Energy Inc. (ticker: TALO) said the Mexican oil & gas regulator, the National Hydrocarbons Commission (CNH), has approved the appraisal plan for the Zama discovery, and CNH is currently reviewing the application for drilling permits. The appraisal plan includes three new reservoir penetrations. This is a key approval required for Talos to commence the appraisal of the Zama discovery. Talos estimates that it will spud the first appraisal well, the Zama-2, in the fourth quarter of 2018 and that the appraisal program will be completed by mid-2019. The first well in the program, the Zama-2, will be deepened by approximately 500m to test an exploration prospect called Marte, which has an unrisked recoverable resource range between 60 MMBoe and 150 MMBoe. The estimated cost to deepen the Zama-2 wellbore for the Marte test is approximately $10 million gross, with Talos’s share expected to be approximately $3.5 million.[Read More…]

A First for Mexico

A First for Mexico

Pemex, Talos, Premier Oil, and Sierra Oil and Gas Sign PUA for Zama Pemex, with the Block 7 Consortium – Talos Energy (ticker: TALO), Premier Oil (ticker: PMO), and Sierra Oil and Gas – have just signed a Pre-Unitization Agreement (PUA) for two offshore areas in Mexico’s Southeast Basin: the Amoca-Yaxche-03 allocation and the Block 7 contiguous production sharing contract. The PUA is potentially laying the groundwork for a more permanent agreement between Pemex and its Block 7 partners in the Southeast Basin. This is the first Pre-Unitization Agreement ever to be signed in Mexico. Pemex and Talos, as the operators, will continue exploration of the Zama reservoir, potentially extending into Pemex’s neighboring block. Setting legal precedent for shared discoveries In the event a shared reservoir is created, a Unit Agreement and Unit Operating Agreement (UOA) will be signed. With Mexico’s revamped regulatory framework, the UOA will define each party’s involvement[Read More…]