BP and partners find oil at Puma West exploration well

Talos Energy, along with affiliates of BP and Chevron, have announced successful drilling results from the Puma West exploration project located in the US Gulf of Mexico Green Canyon Block 821. The Puma West well was drilled to a total depth of 23,530 ft and was designed to test subsalt Miocene sands.

Key highlights include:

• The Puma West well encountered oil pay in a high-quality, subsalt Miocene sand.
• Fluid properties from the discovered Miocene zone carried similar properties as other productive Miocene reservoirs in the area.

The co-owners will begin planning an appraisal program that will better define the discovered resource. The wellbore has been suspended as a keeper well to preserve future utility.

The Puma West exploration prospect was evaluated following the farm-in by BP to Talos-owned Green Canyon Block 821 and subsequent farm-in by Chevron. BP is the operator and holds a 50% working interest. Talos and Chevron each hold a 25% working interest. The Puma West discovery is located less than 15 miles from the prolific Mad Dog field, operated by BP.

Talos maintains an interest in more than 17,000 gross acres in the Puma West area.

Talos Energy President and CEO Timothy S. Duncan commented: “We are very excited about this discovery, as well as the broader potential in this area. Puma West is a great example of the class of high-impact catalyst opportunities still available in the US Gulf of Mexico. Advancements in seismic technology, operational efficiency and safety at these depths, combined with ample available infrastructure, support robust project economics while also providing material domestic energy resources to consumers with a small environmental footprint. We look forward to working through our results, planning the appraisal and advancing this project to its next phase with BP and Chevron.”