The company, backed by billionaire Carlos Slim, said preliminary data from the Ewing Bank 953 well indicated an estimated 15 to 25 million barrels of oil equivalent (boe) in resources and an initial gross production rate of 8,000-10,000 boe per day.

U.S. company Talos Energy said Thursday it had discovered commercial quantities of oil and natural gas in an underwater well in the Gulf of Mexico.

The company, backed by billionaire Carlos Slim, said preliminary data from the Ewing Bank 953 well indicated an estimated 15 to 25 million barrels of oil equivalent (boe) in resources and an initial gross production rate of 8,000-10,000 boe per day.

First production from the well is expected to begin in mid-2026, the company added.

Houston-based Talos Energy had been part of a short list of companies that made significant discoveries in oil and gas exploration areas off the coast of Mexico.

"This discovery follows a series of successful single-hole subsea wells tied to existing Talos-owned infrastructure, including Venice and Lime Rock, Sunspear and Claiborne Sidetrack," said interim CEO Joe Mills.

Talos has also signed an agreement to participate in a separate prospective well called Sebastian, he said.

Oil and gas producer Murphy Oil is expected to operate the Sebastian prospect, where drilling results are expected in the fourth quarter of this year.

The prospect has an estimated gross resource potential of 9 to 16 million boe and a potential initial production rate of 6,000 to 10,000 boe per day, Talos said.