Talos Energy Inc.’s appraisal plan for the Zama discovery was approved by the Mexican oil and gas regulator, the company said on Sept. 27.
The National Hydrocarbons Commission is reviewing the application for drilling permits, which are required to start drilling operations, Talos said.
The regulator approved a gross budget of $325 million for the appraisal plan, which includes about $75 million of contingent operations, the company said.
Last week, a consortium led by Talos reached a preliminary agreement with Mexican state oil firm Pemex to evaluate whether its’ find in the Gulf of Mexico extended into a neighboring Pemex block.
“This approval allows us to maintain an accelerated schedule of investments on the Zama project in Mexico, and begin drilling operations on the appraisal plan by the end of this year.” CEO Timothy Duncan said.
Recommended Reading
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.
Ithaca Energy to Buy Eni's UK Assets in $938MM North Sea Deal
2024-04-23 - Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Marketed: Stone Hill Minerals Holdings 95 Well Package in Colorado
2024-02-28 - Stone Hill Minerals Holdings has retained EnergyNet for the sale of a D-J Basin 95 well package in Weld County, Colorado.