HOUSTON, April 13, 2021 / PRNewswire / – Talos Vitality Inc. (“Talos” or the “Firm”) (NYSE: TALO), in addition to subsidiaries of bp plc (“bp”) and Chevron United States Inc. (“Chevron”) (collectively, the “Co-House owners”) at present introduced profitable drilling outcomes from the Puma West exploration undertaking situated in Block 821 of Inexperienced Canyon within the Gulf of Mexico, United States. The Puma West effectively was drilled to a complete depth of 23,530 toes and was designed to check the Miocene submarine sands.

Highlights:

  • The Puma West effectively has met with petroleum pay in prime quality, sub-saline Miocene sand.
  • Fluid properties from the found Miocene zone had properties just like these of different productive Miocene reservoirs within the area.
  • The co-owners will start to plan an appraisal program that may higher outline the useful resource found. The wellbore was suspended as a retention effectively to protect future utility.
  • Talos owns an curiosity in over 17,000 gross acres within the Puma West space.

The Puma West exploration prospect was assessed following the merger by bp of Inexperienced Canyon Block 821, owned by Talos, adopted by the merger by Chevron. bp is the operator and has a direct stake of fifty.0%. Talos and Chevron every have a 25.0% working curiosity. The Puma West discover is situated inside 15 miles of the prolific Mad Canine subject, operated by bp.

President and CEO of Talos Vitality Timothy S. Duncan commented, “We’re very enthusiastic about this discovery in addition to the broader potential on this space. Puma West is a main instance of the category of excessive affect catalyst alternatives nonetheless obtainable in the USA. Gulf of Mexico. Advances in seismic expertise, operational effectivity and security at these depths, mixed with an enormous obtainable infrastructure, assist a strong undertaking financial system whereas offering materials nationwide power sources to shoppers with a small environmental footprint. We look ahead to engaged on our outcomes, planning the analysis and transferring this undertaking ahead into its subsequent section with bp and Chevron. “

ABOUT TALOS ENERGY

Talos Vitality (NYSE: TALO) is an impartial, technical-oriented exploration and manufacturing firm targeted on the secure and environment friendly maximization of money movement and long-term worth via its operations, presently in United States Gulf of Mexico and offshore Mexico. As one of many United States Gulf of Mexico largest impartial public producers, we leverage many years of experience in geology, geophysics and offshore operations for the acquisition, exploration, exploitation and improvement of belongings in key geological developments current in lots of offshore basins worldwide. Our offshore actions Mexico supply high-impact exploration alternatives in an rising oil-rich basin. For extra info go to www.talosenergy.com.

CONTACT INVESTOR RELATIONS

Sergio Maiworm
+1.713.328.3008
[email protected]

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This communication could include “forward-looking statements” inside the which means of Part 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Part 21E of the Securities Trade Act of 1934, as amended. All statements, aside from statements of historic reality included on this communication, concerning our technique, future operations, monetary situation, estimated earnings and losses, projected prices, prospects, plans and administration aims are forward-looking statements. When used on this communication, the phrases “may”, “imagine”, “anticipate”, “intend”, “estimate”, “count on”, “plan”, “foresee”, “could “,” goal “,” plan “and comparable expressions are supposed to determine forward-looking statements, though not all forward-looking statements include such figuring out phrases. These forward-looking statements are based mostly on our present expectations and assumptions concerning future occasions and are based mostly on info presently obtainable concerning the end result and timing of future occasions.

We warning you that these forward-looking statements are topic to many dangers and uncertainties, most of that are tough to foretell and lots of of that are past our management. These dangers embody, however will not be restricted to, commodity worth volatility, together with the sharp decline in oil costs from March 2020, the affect of coronavirus illness 2019 (“COVID-19”) and associated authorities actions on the worldwide demand for oil and pure fuel and on our enterprise operations, the capability or the need of the Group oil-exporting nations (“OPEC”) and non-OPEC nations, resembling Saudi Arabia and Russia, to repair and preserve oil manufacturing ranges and the affect of such actions, lack of transport and storage capability as a result of oversupply, authorities laws and actions or different components, inflation, the dearth of availability of drilling and manufacturing gear and providers, environmental dangers, drilling and different working dangers, regulatory adjustments, the uncertainty inherent in estimating reserves and projecting future manufacturing charges, money movement and entry to capital, timing of improvement spending, the likelihood that the anticipated advantages of latest acquisitions could not materialize when anticipated or in no way, together with as a result of affect or points arising from the mixing of those acquisitions, and different components prone to have an effect on our future outcomes and actions, usually, together with these described beneath the heading “ threat ”in our annual report on Kind 10-Okay for the 12 months ended December 31, 2020, filed with the SEC on March 11, 2021.

If a number of of those dangers happen, or if the underlying assumptions show to be incorrect, our precise outcomes and plans may differ materially from these expressed within the forward-looking statements. All forward-looking statements, whether or not expressed or implied, are expressly certified of their entirety by this cautionary assertion. This cautionary assertion also needs to be thought of in reference to any subsequent written or oral forward-looking statements that we or individuals appearing on our behalf could make. Except in any other case supplied by relevant regulation, we disclaim any obligation to replace any forward-looking statements to replicate occasions or circumstances after the date of such communication.

Estimates of our future manufacturing volumes are based mostly on assumptions about ranges of capital spending and on the idea that market demand and costs for oil and fuel might be maintained at ranges that enable for the economical manufacturing of those merchandise. The manufacturing, transportation, advertising and storage of oil and fuel are topic to disruption because of the availability of transportation, processing and storage, mechanical failures, human error, hurricanes and lots of different components. . Our estimates are based mostly on sure different assumptions, resembling effectively efficiency, which can differ materially from these assumed. Due to this fact, we can not give any ensures that our future manufacturing volumes might be in keeping with estimates.

WARNING TO INVESTORS

The SEC permits oil and fuel corporations, of their SEC filings, to reveal solely confirmed, possible, and doable reserves that meet the SEC definitions for these phrases. On this communication, the corporate makes use of sure broader phrases resembling “conditional sources”, “oil remuneration” and “2C sources” which the SEC tips strictly prohibit the corporate from together with in SEC filings. A majority of these estimates don’t characterize, and will not be supposed to characterize, a class of reserves based mostly on SEC definitions, are inherently extra speculative than estimates of confirmed, possible and doable reserves, and don’t represent “reserves” in any respect. sense of the SEC guidelines. These estimates are topic to higher uncertainties and, subsequently, are topic to a considerably larger threat of being achieved. Traders are urged to rigorously evaluation the knowledge and threat components within the stories that the corporate recordsdata with the SEC.

SOURCE Talos Vitality

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http://www.talosenergy.com



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