Lobster/Oyster (EW873) - Talos

Location

The Lobster/Oyster (EW873) asset is located in the Federal offshore waters of the United States, specifically within Ewing Bank (EW) Block 873 in the Gulf of Mexico. It is approximately 209 kilometers south of New Orleans.

Operator

The Lobster platform, which is part of the Lobster/Oyster asset, is operated by EnVen, although the overall asset is associated with Talos Energy in some contexts.

Infrastructure

• The Lobster platform serves as a key infrastructure component for the asset. It is situated at a water depth of 775 feet.
• The platform hosts production from the Spruance field, among other potential fields, through subsea tiebacks. For the Spruance field, a 22.5 km-long subsea tieback connects the two-well subsea development to the Lobster platform.

Production Details

• While specific production figures for the Lobster/Oyster asset alone are not provided, it is known that the platform supports production from various fields. For example, the Spruance field, tied back to the Lobster platform, produces approximately 16,000 barrels of oil per day (bopd) and 13 million metric cubic feet per day (Mmcfd) of gas.

Geology and Reservoirs

• The asset is part of the broader geological trends in the Gulf of Mexico, which include Miocene, Pliocene, and other geological formations. The unique geologic properties of each offshore reservoir make production forecasts challenging to generalize into a single "type curve".

Development and Partnerships

• The Lobster/Oyster asset benefits from existing infrastructure, which enhances its economic viability. Talos Energy, which has a strategic position in the Gulf of Mexico, often optimizes EBITDA margins and shortens cycle times through key facilities that host both Talos and third-party production.
• The asset may involve multiple partnerships, as is common in the Gulf of Mexico. For instance, the Spruance field, which is tied back to the Lobster platform, involves several partners including LLOG Exploration Company, Ridgewood Energy, Beacon Asset Holdings, Houston Energy, EnVen, Red Willow, and CL&F.

Contractors and Suppliers

• For the Spruance field development, Trendsetter Engineering was contracted to supply a subsea manifold and the Trendsetter Connection System (TCS). Additionally, production valves were provided by Advanced Technology Valve.

Economic and Operational Benefits

• The Gulf of Mexico assets, including the Lobster/Oyster, are known for their high-margin production and low decline rates. Approximately 80% of the economics are returned in the low-decline period of the well life, with minimal decline for 33-40% of the reserve life. This allows for sustained high production rates from single deepwater wells.