Beacon Offshore Energy is advancing development of the Monument oil field in the U.S. Gulf of America, with first production remaining on schedule for the end of 2026 as drilling activities continue.
The Texas-based operator is preparing to drill the second development well after the first well reached a total measured depth of 32,250 feet. The well encountered approximately 250 feet of net pay, matching pre-drill expectations.
Following the second well, completion activities will be carried out on both development wells. Initial gross production is expected to range from 20 million to 30 million barrels of oil equivalent per day by the end of 2026.
Monument is a Wilcox oil discovery located in Walker Ridge blocks 271, 272, 315 and 316. The field is being developed through a subsea tie-back to the Shenandoah production facility in Walker Ridge, which has committed firm capacity of 20 million barrels of oil per day.
Beacon Offshore Energy operates the development with a 41.7% interest. Talos Energy holds 29.7%, while Navitas Petroleum owns the remaining 28.6%.
Separately, Talos Energy began drilling the Daenerys appraisal well on 1 July 2026. Operations are progressing as planned, with appraisal results expected before the end of the year. The original discovery well was drilled to a total vertical depth of 33,228 feet using the West Vela drillship.
Talos Energy operates the Daenerys project with a 27% interest. The remaining partners are Shell Offshore (22.5%), Red Willow (22.5%), Houston Energy (10%), HEQ II Daenerys (9%) and Cathexis (9%).
The company has also signed definitive agreements to acquire an 80% operated working interest in an offshore block covering more than 4 million gross acres off Honduras. CaribX will retain the remaining 20% working interest.
Talos Energy has completed the acquisition of a 45% working interest and assumed operatorship. The purchase of the remaining 35% interest remains subject to approval by Honduras’ Secretaría de Energía (SEN), which is expected within approximately 90 days.
The agreement includes an option to participate in an exploration well depending on the outcome of a planned 3D seismic campaign scheduled for the second half of 2026.
According to Talos Energy, the acreage includes both shallow-water and deepwater exploration opportunities, including untested deepwater Miocene prospects within a working petroleum system. The company said the transaction is structured as a seismic carry with minimal sunk-cost reimbursement.
