Talos Energy Signs Two Exploration Deals in Gulf of Mexico

By Chris Wack

Talos Energy Inc. (TALO) said Thursday it has entered into two separate agreements with BP Plc (BP) and Exxon Mobil Corp. (XOM) related to Gulf of Mexico exploration.

The exploration and production company said it will work with BP to drill and evaluate the Puma West prospect, located in Talos-owned Green Canyon Block 821, in the fourth quarter of 2019.

Talos said it will retain a 25% working interest in Puma West with operator BP holding the remaining interest. The initial exploration well is expected to be spud before the end of October, using an ultra-deepwater drillship.

The prospect consists of sub-salt, Miocene target zones believed to be similar to the prolific Mad Dog field located less than 15 miles from the proposed well location.

Talos also said it has acquired from ExxonMobil the Hershey prospect, located on Green Canyon Blocks 326, 327, 370 and 371.

Talos said it has acquired a 100% working interest in the Hershey prospect, and will become designated operator of Green Canyon Blocks 326, 327, 370 and 371, which constitute 23,000 gross acres.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

September 19, 2019 07:39 ET (11:39 GMT)

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