Talos Energy Inc. has discovered commercial quantities of oil and gas at the Katmai West #2 well in the Ewing Bank area of the U.S. Gulf of Mexico.
The Katmai West #2 well was drilled significantly under budget and ahead of schedule to a true vertical depth of approximately 27,000 feet, Talos said in a news release. The well “encountered the primary target sand full-to-base with over 400 feet of gross hydrocarbon pay and excellent rock properties in line with pre-drill expectations,” the company stated.
Talos said it expects production in line with pre-drill estimates of approximately 15 to 20 thousand barrels of oil equivalent per day (MBoepd) gross. First production is expected in the second quarter of 2025.
Talos added that the strong performance from Katmai West #1 well, and the successful appraisal from Katmai West #2 well, have nearly doubled the proved estimated ultimate recovery of Katmai West field to approximately 50 million barrels of oil equivalent (MMBoe) gross, which further affirms its expected total resource potential of approximately 100 MMBoe gross.
The drillship West Vela began drilling the Katmai West #2 well in late October 2024. Talos said it plans to case and suspend the well by late January while it finalizes completion plans to be executed in the second quarter. The well will be connected to the existing subsea infrastructure that flows to the Tarantula facility, which has been expanded to increase capacity to 35 MBoepd.
Talos interim Co-President, Executive Vice President and Head of Operations John Spath said, “We are proud of our team for achieving these successful drilling results. Delivering this high-impact deepwater well, approximately 35 percent under budget and more than a month ahead of schedule, demonstrates our ability to efficiently execute complex projects while maintaining top safety and environmental standards. We remain optimistic about the greater Katmai area, as these results align with our pre-drill expectations about its gross resource potential. We look forward to having this well on production and believe it positions us for strong value creation as we move forward into 2025”.
Talos is the operator of the Katmai West field with a 50 percent working interest, and entities managed by Ridgewood Energy Corporation hold the remaining 50 percent. Talos is the 100 percent owner and operator of the Tarantula facility.
In September 2024, Talos discovered commercial quantities of oil and natural gas at the Ewing Bank 953 (EW 953) well. The EW 953 well encountered approximately 127 feet of net pay in the target sand at approximately 19,000 feet true vertical depth (TVD), Talos said in an earlier news release.
Preliminary data indicate an estimated gross recoverable resource potential of approximately 15 to 25 MMboe from a single subsea well with an initial gross production rate of 8,000 to 10,000 barrels of oil equivalent per day (boepd). First production is expected in mid-2026, Talos stated.
Talos holds 33.3 percent working interest (W.I.) in the EW 953 well, with Walter Oil & Gas Corp. as the operator, holding 56.7 percent W.I., and Gordy Oil Company holding 10 percent W.I.
Source: By Rocky Teodoro from rigzone.com