Talos Energy Finds Oil in Mexican Waters

If you’re curious about Talos Energy LLC, it is an oil and gas company based in Houston, Texas, which is predicated on the exploration, development, and production of oil and natural gas. Talos Energy recently partnered with Premiere Oil (an independent UK oil and gas company) and Sierra Oil (an oil and gas company in Mexico) in a collaborative effort to place offshore oil wells in Mexican waters, which is expected to spur foreign competition in the Mexican energy market. Prior to this collaborative effort, there haven’t been any private company oil wells in Mexico since the 1930’s and what Talos Energy knows.

The oil and natural gas trio began their first exploration well drill with Zama-1, located in 546 feet of water and roughly 37 miles from Port Dos Bocas. According to Talos Energy’s President and CEO Tim Duncan, the exploration can be very beneficial for Mexico; he believes that the exploration will produce new jobs and generate government revenue. Additionally, the initial exploration may encourage more oil and natural gas companies to participate in offshore drilling in Mexico and Talos Energy on Facebook.

Founded in 2012, Talos Energy is a privately held company that was established after receiving $600 million from private equity investors, Apollo Global Management Riverstone. The company has over 120 employees that are instrumental to its success. Inf fact, since drilling in Mexico, Talos Energy has been averaging a production output of 16,000 barrels of oil per day, which is used in homes, cars, businesses, and more information click here.

The successful drilling of the Zama-1 well is a testament to the benefits working as a team to achieve a shared goal. The offshore oil discovery is marked by the aggregate participation interest, of each company involved. According to talosenergyllc.com, Sierra Oil had a participation interest of 40%, Premier had 25%, and Talos Energy made up the remaining 35%. President and CEO Tim Duncan, credits Sierra Oil, Premier Oil, and everyone at Talos Energy, for helping to achieve success with the Zama-1 well. He believes that there will be new drilling opportunities in the future, and claims that he and Talos Energy will be ready.

More Visit: http://www.wingsjournal.com/can-new-oil-ventures-talos-energy-lower-airfare

Leave a Reply

Your email address will not be published. Required fields are marked *