Energia
Talos Energy Announces Results Of Latest Gulf Of Mexico Lease Sale
The Company has identified eight prospects on these blocks, with a possibility of an additional two. All but one of the identified prospects can potentially be a tieback to production facilities owned or accessible by Talos.
President and Chief Executive Officer Timothy S. Duncan commented, "We are happy to have a significant impact in the most recent federal lease sale so shortly after the completion of our combination with Stone. Our Exploration team has been focused on expanding our inventory around our production facilities, and the results of this lease sale reflect those efforts."
"We were the apparent high bidder on approximately 75,000 net acres covering multiple prospects, which represents approximately $71 per acre and highlights the competitive acreage cost in our basin. This lease sale result illustrates our strategy to focus on fixed-cost infrastructure-led exploration where we can achieve superior economies of scale and robust economics."
Even though Talos was the high bidder on these blocks and expects to be awarded these leases, the BOEM reserves the right not to award some or all of the blocks based on their minimum bidding criteria. Actual award results will be known in the coming months.
Sergio Maiworm
+1.713.328.3008
investor@talosenergy.com
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