Talos Energy gains after discovery of oil and gas in Gulf of Mexico

Talos Energy

05/09/2024 16:51

** U.S.-based oil and gas firm Talos Energy's  TALO.N 
shares rise 1.4% to $10.96
    ** Company discovers commercial quantities of oil and
natural gas in a subsea well in Gulf of Mexico
    ** Preliminary data indicates Ewing Bank 953 well has
estimated 15-25 mln barrels of oil equivalent (boe) in resources
and initial gross production rate of 8,000-10,000 boe per day,
company says
    ** Talos expects well's first production to start in
mid-2026
    ** Company's shares further helped by uptick in crude oil
prices  O/R 
    ** Including session's move, Talos shares down ~23% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com))