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Mexico, for the first time in 80 years has allowed the private sector back into the country’s energy industry. The industry has been on an ailing trend forcing the government to take measures. As a result, the first offshore well to be sunk by the private sector was launched. The Zama-1 well exploration will be undertaken by a joint venture between three companies. The three firms, Premier Oil Plc, Houston Talos Energy, and Mexico Sierra Oil & Gas Company began exploration on May 21st. The well is the first of its kind to be drilled by another company other than Petroleos Mexicanos.
The well holds an estimated 100-500 million barrels of crude oil. According to a statement released by Premier, the sinking of the well is expected to take three months at an estimated cost of $ 16 million. The three organizations won the bid in the first round of bidding. Talos Energy will operate the well with a 35 percent stake. Sierra has 40 percent stake while Premier holds 25 percent. It marks the first step towards bringing reforms in the country’s energy sector. The many tests done indicate a high chance of success.
Talos Energy is a private and independent Oil and Gas company. It specializes in offshore exploration and drilling. They focus on the acquisition of assets around the Gulf Coast and the Gulf of Mexico. However, much emphasis is put on asset optimization and exploration. Over the years, the company has adopted innovative ways of keeping up with the competition. As a result, they employ creative and result-driven people into their workforce. They have a collaborative and entrepreneurial culture.
Talos Energy prides itself on geological, geophysical and operating experience in the Gulf of Mexico. They employ a strategy aimed at acquisition, exploitation, and exploration of the basin by utilizing their seismic database. The company’s success is attributed to the increased level of hydrocarbon recovery. It is achieved through the use of specialized drilling and completion techniques. They understand that the workforce is more critical than the machines. Therefore, they commit to observing the highest health and safety standards.
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Talos Energy is one of the most prominent Oils and Gas Companies based in the United States. For the company, nothing thrills their business solutions more than working to sustain the economies of countries with the oil refiners they mine. Therefore, it was founded to achieve better business solutions in a manner that is not paralleled in this industry. The company has expert systems that help them become the best on exploring oil in various parts of the world including the United States and Mexico. In the recent past, they have narrowed down their search for oil to Mexico and the offshore region of the Mexican Gulf.
Talos Energy is a company that was formed as a result of two other companies uniting to form one common business force, the two companies that united includes the Riverstone Holdings Company based in the United States as well as the Appolo Global Management Company. The main purpose of the development of Talos Energy was to enhance purchasing assets to aid in the search for oil in the Mexican Gulf and Offshore Mexico. The main reason to purchase the assets was for oil search optimization, exploration, and exploitation around the area.
Talos Energy also has fund itself suitable to engage in business solutions and developments that have earned it over $10.2 million seismic inventory for business maximization. The management team at Talos Energy has sold and developed two equity companies in the United States private sector. The Gryphon Exploration Equity Form and the Phoenix Exploration are the two businesses that have been developed by Talos Energy. The management team, as a group brought together by cohesion to work for business, the management team has a track record of enhancing mature fields into real fields for oil mining. This is why Talos Energy has a valuable portfolio of working achievements.
For the first time in a long time, the privately-held Talos Energy Company has developed a new offshore well in Mexico. This is one of the latest drives for the country to back down their competitors in an affluent market. Talos Energy is now one of the best oil mining companies based in the United States. To know more click here.