Talos Energy helps Mexico reform its energy market with exploration
Mexico has finally opened its energy market to foreign competition, allowing a joint-venture sink a new offshore well in Mexican waters. The operation is run by three energy companies including London-based Premier Oil Plc, Houston’s Talos Energy LLC and Mexico’s Sierra Oil & Gas. They began drilling May 21 and is the first offshore exploration since the country nationalized its oil industry in 1938. The well Talos Energy is operating is the Zama-1 well, which sits in the Sureste Basin off the state of Tabasco. The site is said to hold nearly 100 million to 500 million barrels of crude oil.
Talos Energy officials have said the drilling will take 90 days to complete and at a cost to Premier of $16 million. The three companies won the rights to dig in 2015, during a round of bidding. The structure of the basin is supposed to be a sign that their is a high chance of success. Talos Energy is the operator and holds a 35% stake in the operation.
Talos Energy LLC is a gas and oil corporation that supports itself off offshore exploration and production. Talos Energy is staffed with experts who have acquired assets across the Gulf Coast and Gulf of Mexico regions. Talos Energy’s tech and management teams have spent their entire careers in the Gulf of Louisiana and Gulf of Mexico area.
Talos Energy LLC acknowledges that oil and gas are the main source of energy and will continue to be so for the foreseeable future. Talos Energy is working to find innovative solutions in relations to exploration and production of resources. Talos Energy is working to acquire, explore and exploit the Gulf Coast and Gulf of Mexico regions through the use of seismic data.
Talos Energy LLC was founded in 2012 and is based in Houston, Texas. It’s main focus is the exploration, development and production oil and natural gas around the Gulf Coast and Gulf of Mexico. The chief executive officer and president of Talos Energy is Tim Duncan. Talos Energy LLC has been a feature at several major energy conferences near the gulf coast.