New Oil and Gas Discovery pops up in Gulf of Mexico

Have you heard of the drilling activities at the Ewing Bank 953 well (EW 953 well)? It led to the discovery of commercial quantities of oil and natural gas and it is encountering approximately 127 feet of net pay. The target sand is at approximately 19,000 feet true vertical depth (TVD).

The preliminary data indicates an estimated gross recoverable resource potential of around 15 – 25 million barrels of oil equivalent (MMBoe). It is from a single subsea well with an initial gross production rate of 8 – 10,000 barrels of oil equivalent per day (MBoe/d). The first production will be on mid-2026.

The Ewing Bank 953 well is set to be tied back to the South Timbalier 311 Megalodon host platform. It is a facility in which Talos Energy holds a partial ownership stake. This strategic tie-back is anticipated to optimize operational efficiencies and enhance production capabilities. The EW 953 well is under the operation of Walter Oil & Gas. It possesses a significant 56.7% interest in the project. Talos Energy holds a substantial 33.3% working interest. Gordy Oil Company retains the remaining 10% stake in the venture. This collaborative effort among the stakeholders underscores the importance of joint investment and resource-sharing. in the evolving landscape of offshore oil exploration and production.

Initial Findings

Joe Mills, the Interim President and Chief Executive Officer of Talos Energy, expressed enthusiasm regarding the initial findings from the Ewing Bank 953 well. He noted, “We are excited about the results of the Ewing Bank 953 well. The well-logged better than expected rock properties, which we believe should lead to a robust initial flow rate.” These promising geological characteristics are crucial as they suggest a potentially high-yield output, which could significantly contribute to the overall production portfolio of Talos Energy and its partners. The anticipated flow rate, combined with the strategic positioning of the well within an established infrastructure, not only enhances the immediate economic outlook but also supports the long-term sustainability goals of all operators involved in this project.

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Source: Offshore Energy

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