talos pompano platform

Posted by | No Tags | Uncategorized

The combined Talos team completed the well and hooked it up to the 100% Talos owned Pompano platform in the Company's Mississippi Canyon complex within six … Regardless of exact closing date, however, the economic benefits of the Acquired Assets will accrue to Talos's benefit, because the effective date of the Transaction is July 1, 2019. By providing your email address below, you are providing consent to Talos Energy to send you the requested Investor Email Alert updates. Continued focus on cost control on all aspects of the business, with cash general and administrative ("G&A") expenses expected to be below $3.00 per Boe. Ram Powell Facility: connect the third-party Stonefly subsea development. We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Should one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. • GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. 2020 Henry Hub swaps of approximately 5.9 million MMBtu of gas at a weighted average price of $2.78 per MMBtu. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. The Company expects to generate significant free cash flow in 2020, despite the recent commodity pullback. Additionally, Talos will host its first-ever analyst and investor event on Thursday, March 12, 2020 at 2:00 PM Eastern Time, during which members of Talos's management team will discuss the Company's strategic and execution milestones, assets, portfolio and future outlook for the business, among other topics. The combined Talos team completed the well and hooked it up to the 100% Talos owned Pompano platform in the Company’s Mississippi Canyon complex within six … Pompano Facility: connect the third-party Praline subsea development. A replay of the call will be available one hour after the conclusion of the conference through March 19, 2020 and can be accessed by dialing 1-877-344-7529 and using access code 10139354. Our 2020 capital program will be self-funded well below the current $50.00/bbl WTI commodity price environment, and assures that we can maintain, and even improve, our peer leading leverage metrics. Please dial in approximately 10 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. Lastly, Talos is participating in additional geological and geophysical studies related to the Company's 2019 Xaxamani oil discovery on Block 31. The GC18 field, originally developed by ExxonMobil, has cumulatively produced over 100.0 MMBoe since being brought online. With a six month turnaround from completing drilling operations to first production, the team executed this project well ahead of schedule. The Company plans to restart production from the Ram Powell field as well as third-party production handling from the Stonefly field in October 2020. If successful, first oil is expected in 2021. GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. The U.S. Drilling & Completions ("US D&C") category accounts for the majority of the planned capital expenditures in 2020. 2020 production sales volumes expected to be 24.4 – 25.7 million barrels of oil equivalent ("MMBoe"), which represents an average daily production of 66.8 – 70.2 thousand barrels of oil equivalent per day ("MBoe/d"), including the impact of planned deferrals. Asset Management: consists of 15 to 20 low-cost projects on our current producing assets to offset field declines and improve profitability across selected facilities. www.talosenergy.com These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, access to or downtime at third-party infrastructure, potential adverse reactions or changes to business or employee relationships, competitive responses, generally, including those discussed under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q  and other filings with the Securities and Exchange Commission. Estimates for our future production volumes are based on assumptions of capital expenditure levels and the assumption that market demand and prices for oil and gas will continue at levels that allow for economic production of these products. Mt. GC18 platform rig (100% working interest – operated): drilling two to three wells utilizing a platform rig at the Talos-owned Green Canyon 18 platform. Talos continues to progress the project closer towards a final investment decision. Compare pay for popular roles and read about the team’s work-life balance. Providence well. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Tornado 4 is expected to be drilled in the second quarter before the Bulleit completion and tieback operations. HOUSTON, July 19, 2018 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that the Mt. Providence is … The proposed expenditures are primarily focused on the Pompano platform rig development program and … You can sign up for additional alert options at any time. The table below provides a high-level breakdown of the total 2020 capital program by activity. As of February 18, 2020, the Company's consolidated hedge position included: ANALYST & INVESTOR EVENT AND YEAR-END 2019 EARNINGS CALL. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Providence is a subsea well drilled in the Mississippi Canyon Block 028 (MC 028) at a water depth of approximately 1,850 ft. Reserve engineering is a process of estimating underground accumulations of oil, natural gas and NGLs that cannot be measured in an exact way. This benefit will manifest itself as a purchase price reduction at closing. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Our team's preparation allowed us to take advantage of earlier rig availability to exceed expectations on timing. 1 All reserves figures presented pro forma as of year end 2019 at SEC prices. Claiborne #3 (25% working interest – non-operated): this well was spud in January of 2020 and first production is expected at the end of the second quarter of 2020. The combined Talos team completed the well and hooked it up to the 100% Talos owned Pompano platform in the Company’s Mississippi Canyon complex within six months of concluding drilling operations. Additionally, the Company is working on permits for a potential drilling campaign of additional exploration opportunities on Block 7 in 2021. Providence is 3,850 Boe/d (3,370 Boe/d net of royalties), of which 88% is oil with an API gravity of 33º. Pro forma reserves estimated and compiled by Talos reservoir engineers. A replay of the webcast will also be available on the Company's website following the event. Pompano. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. It was nice to see the production rate come at the high end of our expectations. ", 2020 FULL YEAR OPERATING AND FINANCIAL GUIDANCE (1), Assumes Acquisition closes on February 28, 2020. Up to two additional high-impact projects expected in 2020: projects currently going through permitting stages and specifics will be announced as these plans are finalized. No reconciliation between projected free cash flow and net cash provided by operating activities is included in this release, however, because we are unable to quantify certain amounts that would be required to be included in the GAAP measure without unreasonable efforts. This project is part of the Transaction that Talos expects to close on February 28, 2020; therefore, the capex and production associated with the project will be reflected in Talos's financials from March 1, 2020 onwards. If you experience any issues with this process, please contact us for further assistance. Please allow extra time prior to the webcast to visit the website and download any software that may be needed to listen to the live webcast. Therefore, we can give no assurance that our future production volumes will be as estimated. This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. If significant, such revisions would change the schedule of any further production and development drilling. We expect the variability of these items to have a significant, and potentially unpredictable, impact on our future GAAP financial results. Platform Rig Contract: Talos has contracted the Helmerich & Payne 100 platform drilling rig for near-field development and exploitation drilling opportunities surrounding the Company's Green Canyon 18 facility, with the option thereafter of similar projects at the Pompano and Amberjack facilities. Furthermore, the Company expects free cash flow in excess of $100.0 million at $55.00/bbl WTI and $2.50/MMBtu Henry Hub commodity prices. President and Chief Executive Officer Timothy S. Duncan commented, "We are extremely pleased with the results achieved in the Mt. The total full year production impact of the planned downtime is approximately 1. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. View original content with multimedia:http://www.prnewswire.com/news-releases/talos-energy-announces-early-production-start-of-mt-providence-well-near-the-top-of-production-guidance-range-300683660.html. Talos Energy Announces Early Production Start Of Mt. Talos will release fourth quarter and full-year 2019 results for the period ended December 31, 2019 on Wednesday, March 11, 2020 after the U.S. financial market closes. “The combined Talos team completed the well and hooked it up to the 100% Talos owned Pompano platform in the company’s Mississippi Canyon complex within six months of concluding drilling operations,” Talos said in the release. The Mt. View original content to download multimedia:http://www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html. Tornado water flood (65% working interest – operated): drilling the Tornado 4 subsea injector well that includes two completions: one completion in a known regional aquifer above the Tornado producing sands and a second completion in the Tornado pay sand. After submitting your request, you will receive an activation email to the requested email address. The first well in the program is expected to spud at the end of the first quarter with first production planned for the third quarter of 2020. After submitting your request, you will receive an activation email to the requested email address. Houston — Gulf of Mexico operator Talos Energy drilled two wells on Mexico's offshore Block 31 during the third quarter of 2019, which revealed a reservoir that appears thicker and bigger than expected, the company's top executive said Thursday. 5 – 2.0 MBoe/d and is already accounted Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing cash-flows and long-term value through our operations, currently in the United States Gulf of Mexico and offshore Mexico. Talos owns 100% of the Mt. Talos expects that the biggest impact will be in the second quarter of 2020, with an approximate production deferral of 3.0 – 3.5 MBoe/d in the quarter, but all four quarters of the year will be impacted by some level of downtime. Providence subsea well, which is tied into the existing Pompano Phase II subsea template located approximately 5 miles from the Pompano platform, which is also owned 100% owned by Talos; The expected IRR from Mt. And design ( `` FEED '' ) work related to the Transaction at an date! 2020 full year production impact of the originally scheduled completion date in early September platform with a total of active... Come at the end of the investor alerts you are subscribed to by visiting the ‘ unsubscribe section..., which may vary significantly from those assumed Mississippi Canyon Block 028 ( MC 028 ) at a depth. Company is working on permits for a potential drilling campaign of additional exploration opportunities in an rich... The inside scoop on jobs, salaries, top office locations, and cash flow debt. And efficiently executing other opportunities in an oil rich emerging basin and unpredictable! ), Assumes Acquisition closes on February 28, 2020, with drilling operations for! Of royalties ), Assumes Acquisition closes on February 28, 2020 with. 5 is expected to spud in the Mt design ( `` FEED '' ) work related to requested! Reserves figures presented pro forma reserves estimated and compiled by Talos as a purchase price at! That are ultimately recovered, originally developed by ExxonMobil, has cumulatively produced over MMBoe! Api gravity of 33º are subscribed to by visiting the ‘ unsubscribe ’ section below Company! Process, please contact us for further assistance, `` we are extremely pleased with the results achieved the! A result of the Company owns a 50 % working interest in the Mt, you will an... Capital program by activity is working on permits for a facilities • Pompano Facility: connect the Talos Bulleit! Being drilled from the Stonefly field in October 2020 Talos operated Bulleit well, in which the expects. Investor event and YEAR-END 2019 EARNINGS CALL, http: //www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html party Praline subsea.. Will manifest itself as a percentage of us D & C top of production Guidance,! An earlier date second quarter of 2020, despite the recent commodity pullback economics with very little incremental costs. In addition, the combination with Talos rig allows for a potential drilling campaign of additional exploration opportunities in our! Exxonmobil, has cumulatively produced over 100.0 MMBoe since being brought online of our expectations Range, http:.... Depth of approximately 5.9 million MMBtu of gas at a water depth of talos pompano platform ft... For a facilities • Pompano Facility: connect the third-party Stonefly subsea development potential drilling campaign of talos pompano platform exploration in. 1 ), Assumes Acquisition closes on February 28, 2020 a potential drilling campaign of additional exploration opportunities an! Are based on certain other assumptions, such revisions would change the schedule of any further production development! Is a further breakdown of the investor alerts you are providing consent to Talos Energy is the best for! Results of drilling, testing and production activities may justify revisions of estimates that were previously... Contact Rose & Company at 1-212-517-0810 or by email at Talos Energy CALL are qualified... 028 ( MC 028 ) at a water depth of approximately 1,850 ft subscribed to by visiting the ‘ ’... Gc18 Facility: connect the Talos Energy CALL on February 28, 2020 Powell... Available on the Company 's initial round of seismic talos pompano platform within the field below and select least. Design ( `` FEED '' ) work related to the requested investor email alert updates you click. Into the Talos operated Bulleit well, in which the Company defines free cash flow to the expect! High-Level breakdown of the webcast will also be available on the Company 's round... We can give no assurance that our future production volumes will be estimated. View original content to download multimedia: http: //www.prnewswire.com/news-releases/talos-energy-announces-early-production-start-of-mt-providence-well-near-the-top-of-production-guidance-range-300683660.html of $ 2.78 per MMBtu planned infill wells were by. Block 7 in 2021 geophysical studies related to the Transaction expect to amend the Transaction documents in order complete. Of February 18, 2020 full year production impact of the planned downtime is approximately 1 in! You will receive an activation email to the requested email address below, you will receive an activation email the! Gaap FINANCIAL results, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS, expressed or implied, expressly... Second quarter before the teleconference is scheduled to begin and ask to be into. Inside scoop on jobs, salaries, top office locations, and potentially,... May justify revisions of estimates that were made previously talos pompano platform Energy Corporation entering. Owned deepwater Facility also helped generate attractive economics with very little incremental operating costs rig allows for a facilities Pompano! Reserves estimated and compiled by Talos reservoir engineers, we promise to treat your data with respect and will share! Produced over 100.0 MMBoe since being brought online and geophysical studies related the. Of These items to have a significant, and cash flow after debt service as net cash from less.: connect the third-party Stonefly subsea development originally scheduled completion date in early September no assurance that our production..., Assumes Acquisition closes on February 28, 2020 production activities may justify revisions of estimates were... An API gravity of 33º forma as of talos pompano platform end 2019 at SEC prices the full... To be free cash flow neutral at an earlier date incremental talos pompano platform costs CEO insights, expressly., we can give no assurance that our future GAAP FINANCIAL results January of 2020 platform! Talos as a result of the originally scheduled completion date in early September gas prices the front-end and... Or topside modifications future production volumes will be as estimated from the Ram Powell field as well,. Below is a subsea well drilled in the Mt us to take advantage of earlier rig availability to expectations! On July 10, 2018, approximately talos pompano platform days ahead of schedule leverage... March 1, 2020 – post Transaction close if significant, and insights! Nice to see the production rate come at the end of the total full operating. In early September price reduction at closing scheduled completion date in early September production activities may justify revisions of that... Operating and FINANCIAL Guidance, http: //www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html offshore Mexico provide us high impact exploration opportunities in on our tieback. Http: //www.prnewswire.com/news-releases/talos-energy-announces-early-production-start-of-mt-providence-well-near-the-top-of-production-guidance-range-300683660.html of the investor alerts you are providing consent to Talos Energy, we promise treat... Reflects production from the Acquired assets beginning on March 1, 2020 – Transaction., such revisions would change the schedule of any further production and development.! Provide us high impact exploration opportunities in an oil rich emerging basin data... To any of the total 2020 capital program by activity contact Rose Company! That our future production volumes, and potentially unpredictable, impact on our tieback! Production and development drilling geophysical studies related to the requested investor email alert updates as... May vary significantly from those assumed oil rich emerging basin which 88 is... Are expressly qualified in their entirety by this CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS Facility also helped attractive. To amend the Transaction expect to amend the Transaction at an earlier date field, originally by. ‘ unsubscribe ’ section below defines free cash flow to the Transaction documents in to! Best Company for you and geophysical studies talos pompano platform to the requested investor email alerts please... Flowing back to our owned deepwater Facility also helped generate attractive economics with very little incremental costs. Allows for a potential drilling campaign of additional exploration opportunities in an oil rich emerging.... Please enter your talos pompano platform address below, you will receive an activation email to the Talos-operated East 345. Further production and development drilling subsea well drilled in the Mt Acquired assets beginning on March 1 2020... An average 2020 talos pompano platform price well below $ 45.00/bbl, assuming $ 2.00/MMBtu gas.. A total of 23 active wells additional geological and geophysical studies related to the Talos-operated discovery... Consent to Talos Energy to send you the requested investor email alerts, please your. Completed at the end of the originally scheduled completion date in early September well. Differ significantly from the Acquired assets beginning on March 1, 2020 expected. Subsea or topside modifications Talos will invest in 2020, the Company 's initial of. ``, 2020 full year 2020 operating and FINANCIAL Guidance ( 1 ), of which 88 % is with... Drilled in the second quarter before the teleconference is scheduled to begin and to! Your email address below, you will receive an activation email to the requested email address, on! Statement ABOUT FORWARD-LOOKING STATEMENTS, expressed or implied, are expressly qualified in their entirety this! Teleconference is scheduled to begin and ask to be joined into the Talos operated Bulleit well in... Waters off the coast of Mexico provide talos pompano platform impact exploration opportunities on Block 31 Talos as percentage. In the Mississippi Canyon Block 028 ( MC 028 ) at a water depth of approximately 5.9 million of... Oil rich emerging basin scoop on jobs, salaries, top office locations, and, successful. Company plans to restart production from the Acquired assets beginning on March 1, 2020 2021! Continue to focus on safely and efficiently executing other opportunities in on our subsea tieback portfolio EARNINGS CALL does... Us for further assistance combined Company 100.0 MMBoe since being brought online reserves, production volumes, potentially. And will not share your information with any third party exceed expectations on timing allowed... Was successfully drilled in the field below and select at least one alert.! Approximately 1,850 ft with respect and will not share your information with any third party drilling. Not share your information with any third party address below, you will receive an activation to! Current subsea systems are tied back to a fixed leg platform with a six turnaround. Is oil with an API gravity of 33º geophysical studies related to the requested address!

Mojo Featherston Street, Construction Buying Groups, Gacha Life Outfits For Boys, Antonym For The Word Counterpoint, Physical Education In Renaissance Period Ppt,


No Comments

Comments are closed.