Talos Energy News

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

Around 61,165 barrels of daily oil output from at least six producers, making up about 3% of crude oil production in the Gulf of Mexico, has been shut in by Third Coast Infrastructure's underwater pipeline leak, the U.S. Coast Guard said on Wednesday.The oil producers whose facilities are impacted include W&T Energy, Occidental Petroleum, Walter Oil and Gas, Cantium, Arena Offshore and Talos Energy Ventures, the Coast Guard said, citing the U.S. Interior Department's Bureau of…

Carbon dioxide emissions from U.S. liquefied natural gas facilities have jumped to 18 million tons per year, up 81% since 2019, adding a volume of greenhouse gas to the atmosphere equivalent to that produced by several big coal plants, according to United States government data.They could more than double to 45 million tons per year by the end of the decade as new facilities, encouraged by soaring overseas demand for the super-cooled fuel, come online, according to company projections provided to the U.S.

Subsea 7 has signed a three-year strategic partnership with Talos Energy to deliver commercial solutions for subsea engineering, construction and installation projects in the U.S.

The U.S. Environmental Protection Agency (EPA) is moving too slowly to allow states to permit and oversee carbon-reduction projects, according to Louisiana's governor, slowing millions of dollars in investments designed to tackle greenhouse gas reduction.Louisiana and other top oil-producing states say they can speed up permitting of carbon sequestration projects if allowed to handle decisions that currently fall under the EPA. There are dozens of these projects with multi-million…

Oil major Chevron has closed the transaction to enter a U.S. Gulf of Mexico carbon capture and storage joint venture with Talos Energy and Carbonvert.The companies on Tuesday announced the execution of definitive documentation and closing of the expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration hub, effective May 1, 2022.Under the terms of the transaction, Chevron has acquired a 50 percent stake in the expanded Bayou Bend CCS joint venture for a gross consideration of $50 million to Talos and Carbonvert…

The U.S. Coast Guard on Monday said it was probing nearly 350 reports of oil spills in and along the U.S. Gulf Coast in the wake of Hurricane Ida.Hurricane Ida's 150 mile per hour (240 kph) winds wreaked havoc on offshore oil production platforms and onshore oil and gas processing plants. About 88% of the region's offshore oil production remains shut and more than 100 platforms unoccupied after the storm made landfall Aug. 29.The Coast Guard has been conducting flyovers off the coast of Louisiana looking for spills.

Following reports of oil spills found along the Southeast Louisiana coast in the aftermath of Hurricane Ida, the U.S. Coast Guard said Monday it had conducted overflights Sunday that focused on two locations previously identified for further investigation."Members of the National Strike Force aboard a Coast Guard HC-144 flew over Bay Marchand, south of Port Fourchon, Louisiana, and the Enterprise Offshore Drilling rig in the Gulf of Mexico, in a continued effort to track and monitor any threats they may pose to the environment," the U.S.

A private dive team will try to locate the source of a suspected oil spill spotted in the Bay Marchand area of the Gulf of Mexico on Sunday, after Hurricane Ida wreaked havoc in the region this week, the U.S. Coast Guard said on Saturday.U.S. National Oceanic and Atmospheric Administration satellite images, first reported by the Associated Press on Wednesday, showed a miles-long brownish-black slick spreading in coastal waters about two miles off Port Fourchon, Louisiana, an oil…

The National Ocean Industries Association (NOIA) board of directors has elected Tim Duncan, president & CEO of Talos Energy, as chairman and Paul Danos, owner, president and CEO of Danos, as vice chairman for the 2021-22 term. Duncan and Danos were confirmed in their positions during a virtual NOIA Board of Directors meeting on April 14.NOIA president Erik Milito said, “The offshore energy industry continuously lifts society in so many ways. The leadership from Tim and Paul will help NOIA continue to advocate successfully for the promise of American offshore energy.

Mexican state oil firm Pemex has reached a preliminary agreement with a consortium led by Talos Energy to evaluate whether the group's find in the Gulf of Mexico extends into a neighboring Pemex block, the companies said in a statement on Thursday.The deal, which covers territory in the shallow waters of the Gulf of Mexico, is the first of its kind for Pemex and will be in force for two years.The Talos consortium, which includes Britain's Premier Oil and Mexico's Sierra Oil & Gas, won development rights for two blocks during the first oil auction launched by President Enrique Pena Nieto.

Today's U.S. auction of Gulf of Mexico exploration leases drew tepid response from oil companies, but marked notable progress for an industry still in a state of recovery.“While not a barn burner, Lease Sale 251 tops the previous Gulf sale in terms of increased participation, increased competition for offerings, and bid amounts,” said Randall Luthi, president of the National Ocean Industries Association (NOIA). “In addition, bidding activity demonstrates both continued interest in deepwater tracts and renewed interest in shallow water tracts.”Luthi continued…

Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second time this year.Oil giant Exxon Mobil Corp was awarded 25 blocks, the largest of any company, followed by BP Plc with 19 high bids and Hess Corp and Equinor, which each had 16.Smaller companies, including Talos Energy Offshore, Houston Energy and W&T Offshore were among the top ten high bidders. In total, 23 companies bid in the U.S.

The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S. outer continental shelf - announced on Thursday it is closing a $480 million acquisition of Noble Energy’s assets in the Gulf of Mexico that will add 25,000 barrels per day (bpd) to its current net production of 72,000 bpd of oil equivalent.

Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open up the long-nationalized industry to private investment. Both the shallow water exploration and production contracts were awarded to the same consortium made up of Mexico's Sierra Oil & Gas, U.S. firm Talos Energy and Britain's Premier Oil. The other 12 blocks received no bids, or none that cleared the bar set by Mexico's finance ministry. All told, it was an inauspicious start to the rollout of President Enrique Pena Nieto's signature economic reform. In the second block up for grabs, the consortium offered 55.99 percent of pre-tax profits to the state, plus a 10 percent additional work program commitment.

Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company valued around $2.5 billion including debt, sending Stone's shares down nearly 13 percent. "The idea of a reverse merger works very well for us, as we get a lot of talented people into the company and also use a structure which gets us to the public equity markets", said Timothy Duncan, chief executive of Talos, who will retain the title under the combined company, to be named Talos Energy Inc. Stone shares will be exchanged for Talos stock on a one-for-one basis, while Talos' existing stockholders will be issued 34.2 million shares to give them 63 percent of the combined company, according to a statement.