Monument Oil Project Makes Progress Towards First Production

Monument, an oil project in the US Gulf, is making progress towards its first production. Beacon Offshore Energy has confirmed positive results from the drilling program, with the first development well reaching a measured depth of 32,250 feet and encountering approximately 250 feet of net productive thickness in Walker Ridge.

The development strategy involves connecting Monument to the Shenandoah production facility via a submarine connection, leveraging existing infrastructure to reduce development times and optimize investment. The facility has a committed capacity to 20,000 barrels of oil per day, which will facilitate the incorporation of production from Monument.

Talos Energy, one of the partners in the project, is also promoting new drilling campaigns in the US Gulf and expanding its exploration presence in Honduras through agreements to acquire an operating stake in 80% of an exploratory block off the coast of Honduras.