Talos Energy Announces Successful Drilling Results at the Katmai West #2 Well in the U.S. Gulf of Mexico

Core Viewpoint - Talos Energy Inc. has successfully drilled the Katmai West 2 well in the U.S. Gulf of Mexico, encountering commercial quantities of oil and natural gas, which positions the company for strong value creation in 2025 [1][4]. Drilling and Production Details - The Katmai West 2 well was drilled by the drillship West Vela, starting in late October 2024, and is expected to be cased and suspended by late January 2025, with production anticipated to begin in the second quarter of 2025 [3][7]. - The well will connect to the existing subsea infrastructure leading to the Tarantula facility, which has been expanded to a capacity of 35 MBoe/d [3][7]. - Talos holds a 50% working interest in the Katmai West field, with Ridgewood Energy Corporation managing the other 50% [3]. Financial and Operational Efficiency - The drilling of the Katmai West 2 well was completed approximately 35% under budget and more than a month ahead of schedule, showcasing the company's operational efficiency [4][7]. - Expected deliverability from the well aligns with pre-drill estimates of approximately 15 to 20 MBoe/d gross [7]. Resource Potential - The successful drilling and appraisal of the Katmai West 2 well have nearly doubled the Proved Estimated Ultimate Recovery (EUR) of the Katmai West field to approximately 50 million barrels of oil equivalent (MMBoe) gross, affirming the company's total resource potential of around 100 MMBoe gross [7].