U.S.-based Talos Energy has found more oil at two deepwater prospects in the U.S. Gulf of Mexico, the company said Aug. 7.
At the Bulleit prospect, the company said a well encountered about 110 ft of net true vertical depth (TVD) oil pay in the MP Sand. The company also hit about 140 ft of net TVD oil pay in the shallower DTR-10 Sand. The latter required a sidetrack of the original well path due to difficult hole conditions, which resulted in delays and additional drilling costs, Talos said. Hurricane Barry also contributed to delays, as Talos said the rig was moved offsite for safety reasons.
Plans are for the well to be completed in first-half 2020 and tied back to the Talos-owned and operated Green Canyon 18 facility,
The Bulleit prospect, originally generated by EnVen Energy, is 50.0% owned and operated by Talos. Partners EnVen and Otto Energy own 33.3% and 16.7%, respectively.
In June, Otto Energy announced Bulleit was confirmed as commercial.
At the Orlov prospect, also in the Green Canyon area, Talos said its partner—operator Fieldwood Energy—is gearing up to drill an appraisal sidetrack to optimize the well location after about 100 ft of net true vertical thickness oil pay was hit in the Aspen J sand and more pay in shallower zones.
Production from Orlov, which will be tied back to the Fieldwood-operated Bullwinkle facility, is expected to begin in first-quarter 2020. Talos said it has a 30% working interest in the project.
Excess crude inventories are easing, with refined fuel stocks taking longer as consumption lags.
On the East Coast, U.S. crude oil stockpiles fell to the lowest level since October 2014, the EIA said.
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