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Talos Starts Up GOM Mt. Providence Well 60 Days Ahead of Schedule
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Talos Energy's 100% owned Mt. Providence well in the Gulf of Mexico began producing on July 10, 2018, approximately two months (60 days) ahead of the originally scheduled completion date in early September.
Current gross production of 3,850 BOEPD, which is near the top of the previously announced guidance range of 2,000 to 4,000 Boe/d.
More About Mt. Providence:
- Mt. Providence is a subsea well drilled in the Mississippi Canyon Block 028 (MC 028) at a water depth of approximately 1,850 ft.
- Gross production from Mt. Providence is 3,850 Boe/d (3,370 Boe/d net of royalties), of which 88% is oil with an API gravity of 33º
- The expected IRR from Mt. Providence is 93%, assuming a $60 per barrel of oil flat
- Production from Pompano, including the Mt. Providence well, is sold on the High Louisiana Sweet (“HLS”) market, which currently sells approximately at $4.00 per barrel premium to WTI pricing
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