Since 1938, the Mexican State first voted in to allow private companies to invest in offshore oil industry based in Mexico waters. This is the latest major step since 80 years ago where the country allowed foreign competitors to invest in its energy markets. The Premier stated that the companies that won the bidding and have started drilling oil are Premier Oil PLC, Sierra Oil, and Gas and Talos Energy LLC.

The launch was the first offshore exploration that was launched by Petroleum Mexicanos other than star run monopoly since when the country started nationalizing the oil industry. The Zama-1 well that is found in Sureste Basic in the state of Tobasco is estimated to have crude oil ranging from 100 and 500 barrels. Drilling of oil is expected to take 90 days, and it will cost more than $16 million. The companies responsible for drilling won the bid in 2015. Major analysts like Elaine Reynolds in an interview stated that this kind of project is a significant geological opportunity for success. The three main operators Premier, Talos, and Sierra hold the stakes of 40%, 35%, and 25% respectively.

Talos energy is a private firm that its expertise surrounds offshore production and exploration. They acquire assets in Gulf Coast and parts of Mexico regions with more emphasis on exploration, exploitation, and optimisation. The major investment of Talos Energy is 33 000 square miles of 3D seismic data which covers most acreage in company`s portfolio.

The technical team of Talos Energy has optimised drilling inventories for better evaluation, acquisition and various joint venture opportunities. Over the last 70 years, Talos energy has been at the forefront of advancing drilling techniques, geophysical technology and well control that has great significance in increasing development, exploration, and exploitation activities in Gulf Coast regions. What makes Talos Energy a successful energy company is its independent spirit as well as unique entrepreneurial style.

 

Categories: Financial Services, Talos Energy

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