Talos Energy, London-based Premier Oil, PLC and Mexico’s Sierra Oil & Gas have launched a joint venture to drill an offshore oil well in Mexican waters. This is a significant feat because it is the first time that any other company beside Petroleos Mexicanos has drilled into Mexican territory. This is mainly due to the fact that the county’s oil industry has been nationalized since 1939. The three companies- Talos Energy, Premier Oil and Sierra Oil & Gas, won rights to this project in 2015 in the bid to become the first foreign competitors to return to Mexico’s energy markets.
This is Mexico’s most recent stride in their goal to allow foreign companies back into its energy industry. This proves to be a historic project as it will break ground on future projects with other international private companies. The industry has closely followed its development and achievement in hopes of analyzing the outlook for other foreign competitors. So far, it has proven to be a success but would have not been possible without the involvement of Talos Energy LLC and what Talos Energy knows.
Talos Energy LLC is a Houston-based oil and gas company that is privately held. Its main focus is the exploration and acquisition of oil and gas assets in the Gulf Coast region. It has grown through numerous acquisitions, a good example is its acquisition of Energy Resource Technology GOM in 2013. In July 2017, the company announced a significant find off the coast of Mexico. According to several analysts, the Zama discovery by Talos Energy is the most important achievement so far from Mexico’s Energy Reform and Talos on Facebook.
Tim Duncan, Talos Energy’s CEO recently talked to Bloomberg about the company’s recent oil discovery in Mexican waters and the great opportunities to come along. He also spoke of the magnitude of the resources that they are working with and how this will pave the way for opportunities that could last for decades. Their discovery marks a huge success and has propelled them to be an industry leader. This is a great accomplishment considering Talos Energy’s size in comparison to other oil and gas companies in the industry and more information click here.