New Dawn to Mexico Oil Industry under Talos Energy

Since 1938, when Mexico nationalized its oil industry, the Mexican energy sector has been dominated by the state run corporation, Petroleos Mexicanos. A new order is in place after a private foreign company was given a license to sink an oil well located in the offshore of Mexican waters and more information click here.

The country decided to open up its troubled oil industry by allowing private investment in the sector. Bidding was done in 2015, and three companies won the rights. The drilling of the well started on May 21, 2017, by Talos Energy LLC in partnership with a London based Premier Oil Plc and Mexico’s Sierra Oil Gas. According to Premier, Talos energy owned 35% of the venture and was the one to operate the well; Sierra owns 40% and Premier 25%.

The well, Zama-1 is located in the Sureste Basin off Tabasco State. The drilling process was expected to take 90 days at an estimated cost of $16 million. A London based analyst, Elaine Reynolds said that the project would be much in focus being the first well not operated by the government for almost 80 years. Geologically the project has a high chance of success due to the structure of the basin. Another analyst, Charlie Sharp noted that Zama was an exciting project for the energy sector this year and learn more about Talos Energy.

 

About Talos Energy

Founded in February 2012, Talos Energy is a private company that deals with exploration, the acquisition of properties and producing of oil and gas. Based in Houston, Texas, the company’s primary focus is the area of Gulf Coast and the Gulf of Mexico. Talos formation was as a result of the partnership between Riverstone Holdings and Apollo Global Management and Talos’s Website.

Talos Energy has also pursued an interest in business development. It owns the latest 3D seismic data in a 33,000 square miles farm to optimize the company’s economics of the transaction and Talos’s lacrosse camp.

Under the leadership of Tim Duncan, Talos Energy has achieved a lot. Tim Duncan is the CEO, the President, and the founder of Talos. The company has been able to build and sell Gryphon Exploration and Phoenix Exploration. The two were private backed companies, and their disposal created huge returns to Talos investors and http://www.topworkplaces.com/frontend.php/regional-list/company/chron/talos-energy-llc.

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