News & Press Releases
News & Press Releases
Talos Energy announces HSE milestone achievement for the Helix Producer-1 Vessel and the associated Production Operations Crew
Houston, December 29, 2015 – Talos Energy LLC ("Talos”) announced today that the Helix-Producer 1 (HP-1) and the associated production operations crew have achieved the significant milestone of reaching the five year mark of safe operations without a Lost Time Incident (LTI).
The HP-1 is the first dynamically positioned ship-based floating production unit to receive regulatory approval to operate in the Gulf of Mexico and has been stationed in the Phoenix Field on Green Canyon Block 237, which is operated by Talos’s wholly-owned subsidiary, Energy Resource Technology GOM LLC. Helix Energy Solutions operates the maritime operations related to the HP-1 while Talos manages production operations located on the top-side of the vessel. The HP-1 has a unique detachable riser system that can safely disconnect from subsea manifolds prior to a major storm approaching and can reattach quickly after a major storm has passed. The distinctive engineering of the ship allows Talos’s Phoenix field to be operated with the highest degree of safety in mind.
Talos’s Phoenix field operations reached 1,000,000 man hours without an LTI over Easter Weekend this year and are also approaching this same milestone without any recordable incident. On any given day, the average number of people onboard the HP-1 is 50 persons, but can at times be close to 70 persons during periods of high activity.
Ship-based production operations are very exclusive to the Gulf of Mexico with only 2 vessels, including the HP-1, currently in operation, and the HP-1 being the only vessel in the world capable of producing and exporting oil & gas via dynamic positioning.
Tim Duncan, President and Chief Executive Officer of Talos, commented, "HSE is a core value of Talos Energy and preserving a safety-oriented working environment is an expectation every employee should maintain. The HP-1 unit and crew have achieved several key milestones in the past, but none greater than each employee prudently performing their job safely in order to return home to their families.”
For more information about Talos Energy and subsidiaries, please visit our website at www.talosenergyllc.com
ABOUT TALOS ENERGY LLC
Talos Energy is a technically driven independent exploration and production company focused on the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico Shelf and Developed Deepwater. The Company’s website is located at www.talosenergyllc.com.
The information in this press release includes "forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of oil, natural gas and NGLs. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and the other risks described in "Item 1A, Risk Factors” in the Company’s 2014 Annual Report.
Should one or more of the risks or uncertainties described in the Company’s 2014 Annual Report occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in the Company’s 2014 Annual Report are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
CONTACT: INQUIRIES OF THE COMPANY
Timothy S. Duncan
President & CEO