Stay informed with our
free newsletters

Talos Energy Not Impacted By Expanded Offshore Moratorium

Talos Energy Inc. ("Talos," or the "Company") (NYSE: TALO) today issued a statement clarifying that the Company's business will not be impacted by the recently announced Presidential Order extending the current moratorium on oil and gas development in the Eastern Gulf of Mexico (offshore Florida) and imposing new restrictions on oil and gas development in U.S. waters off the Atlantic coasts of Florida, Georgia and South Carolina.

Talos reiterates that 100% of the Company's assets located in the federal waters of the U.S. are in the Central and Western Gulf of Mexico Planning Areas, which are unaffected by the Presidential Order. Therefore, these actions have no impact on the Company's current or planned future operations and do not change the Company's ability to continue to responsibly develop its existing properties, acquire new leases, or obtain new drilling permits. Approximately 80% of the Company's U.S. net acreage is located in federal waters and approximately 20% in state waters and coastal lands.

Oil and gas production from the U.S. Gulf of Mexico contributes over $28 billion to the U.S. economy annually and sustains over 340,000 jobs across all 50 states. Royalties from oil and

Offshore Oil & Gas Decommissioning Market Report 2021-2031

Offshore Oil & Gas Decommissioning Market Report 2021-2031

Forecasts by Technology (Jackside & Topside Removal, Well Intervention Vessels and Systems, Cutting and Severing, Heavy Lift Technologies), by Structure (CT), Caissons, Mobile Offshore Production Units (MOPU), Well Protectors (WP), Subsea Templates (SSTMP)), by SSLNG Storage (Single Containment Tanks, Membrane Tanks, In-ground Tanks), by Technique (Well Plugging and Abandonment, Subsea Structure Decommissioning), by Removal (Partial Removal, Toppled in Place, Complete Removal), by Services (Project Management & Compliance, Materials Disposal, Site Clearance, Conductor & Power Cable Removal, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Decommissioning Companies AND COVID-19 Recovery Scenarios

Download free sample pages

Source: Talos Energy Inc.
Date: Sep 9, 2020


Share this news: