| Work Detail |
Houston-based energy player Talos Energy has decided to keep a drillship, owned by Seadrill, an offshore drilling contractor, occupied with additional drilling into September 2025. According to Seadrill, the West Vela drilled its most recent well ahead of schedule, thus, Talos, as the operator with a 50% stake, decided to extend the rig’s assignment for 40 more days, adding approximately $20 million in backlog, which is expected to keep the rig busy into September 2025. The drillship has completed its work at the Katmai West #2 well in the Ewing Bank area of the U.S. Gulf of Mexico, now renamed to the Gulf of America by President Donald Trump, encountering commercial quantities of oil and natural gas. The entities managed by Ridgewood Energy Corporation hold the remaining 50% interest in the Katmai West field.The U.S. company highlighted: “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 (EUR) of Katmai West field to approximately 50 MMBoe gross, which further affirms Talos’ estimated gross resource potential of approximately 100 MMBoe. The greater Katmai area is estimated to contain up to a total resource potential of 200 MMBoe.” Based on Talos’ data, the well was drilled in December 2024 under budget and a month faster than expected, finding over 400 feet of gross hydrocarbon pay with excellent rock properties. The first production is expected in the second quarter of 2025, once the well is connected to the existing subsea infrastructure that flows to the Tarantula facility. The U.S. player also recently began completion operations on Sunspear with the West Vela deepwater drillship. The first production is anticipated late in the second quarter of 2025. The firm projects production levels to be approximately 8-10 million boe/d gross. The Sunspear asset will be tied back to the Talos-operated Prince tension leg platform (TLP), in which the Houston-based player holds a 48.0% interest, with an entity managed by Ridgewood Energy Corporation holding a 47.5% stake, and an undisclosed partner bringing up the rear with a 4.5% interest. |
