A new oil and gas discovery in Latin America promises to produce over 10,000 barrels of crude per day. Where is the well located and how much is it worth?
There was a major Latin America oil and gas discovery: The new EW 953 well was discovered at a depth of 19,000 feet in the Gulf of Mexico.
The lead operator, Walter Oil & Gas Corp., led the operation together with Talos Energy, an independent company specializing in the exploration and production of hydrocarbons. The well is located in a region that has abundant energy resources, shared by Mexico and the United States.
Production is expected to begin in mid-2026, adding million barrels to the global market as energy demand remains high. The discovery is linked to other major oil projects in the area, here’s how much the new well can produce and why it is strategic.
10,000 barrels per day oil well in the Gulf of Mexico
According to preliminary data, the newly discovered well has the capacity to produce between 8,000 and 10,000 barrels of oil per day, making it a crucial resource for the energy needs of the United States first and foremost and for the development of its industry.
The EW 953 project stands out for its depth and production capacity. The field will connect to the South Timbalier 311 Megalodon platform, of which Talos holds a 33.3% share. Walter Oil & Gas Corporation holds 56.7% of the business and Gordy Oil Company 10%. To maximize the extraction potential in the Gulf, the alliance between the companies will be essential.
leggi anche
Why do oil prices keep falling?
According to Talos Energy, the combined oil and gas well can produce between 15 and 25 million barrels of oil equivalent, even beyond preliminary estimates. With production expected to start in 2026, the United States will therefore strengthen its position as a world’s largest energy producer in the coming years. The EW 953 well will provide impetus to the country’s future as an energy exporter.
According to analysts, the discovery of this new well in the Gulf of Mexico makes the entire region a reference point for the global energy market. Some of the largest oil-producing countries owe their wealth to this type of discovery.
Original article published on Money.it Italy 2024-09-10 11:44:35. Original title: Nuovo pozzo di petrolio e gas scoperto in America Latina. Produrrà 10mila barili al giorno
