Mexico’s latest effort to allow abroad competitors back into the country’s energy markets finally paid off, as one private company recently managed to sink an offshore oil well in her waters. This incredible feat came after nearly 80 years and more information click here.
The sinking of the oil well was thanks to the partnership of Houston-based Talos Energy LLC, London-based Premier Oil Plc, and Mexico-based Sierra Oil & Gas. According to Premier Oil, the well marks the first offshore exploration well to be sunk by another party other than the state-owned Petroleos Mexicanos, especially since Mexico nationalized its oil industry back in 1938. The company also revealed that the well, Zama-1, located in the Sureste Basin outside the state of Tabasco, holds approximately 100-500 million barrels of crude.
In a statement, Premier Oil unveiled that the drilling process would take a maximum of 90 days to complete, which would cost the company about $16 million. Sierra, Premier, and Talos Energy own 40%, 25%, and 35% stake in th entire venture and what Talos Energy knows.
About Talos Energy
Talos Energy prides itself on being an independent gas and oil company that is spearheaded by an experienced management team. The team boasts decades of experience in offshore production and exploration. The company’s management team is behind the building and selling of Talos Energy’s private equity supported companies like Gryphon Exploration and Phoenix Exploration. Since its inception on January 1, 2012, Talos Energy has grown into a leading expert when it comes to acquiring developed deepwater and operated shelf assets located in the Gulf of Mexico. It has also created a name for itself in exploiting, exploring and optimizing the assets through cutting-edge and innovative seismic technologies and Talos on Facebook.
Talos Energy came about through a partnership between Riverstone Holdings and Apollo Global Management aimed at purchasing assets in the Gulf of Mexico and Gulf Coast regions. The company deals with business development activities including farm-ins and JVs. In this case, Talos utilizes its 10.2 million acres of seismic inventory in optimizing the economics related to a transaction. Based on its solid foundation, the company intends to rapidly grow a world-class company that is committed to environmentally safe compliant operations and Talos Energy’s lacrosse camp.