Talos Energy LLC and Partners Start Drilling Work in the Zama-1 Oil Well in Mexico

Talos Energy is a veteran oil and gas exploration company operating in the Gulf of Mexico. Using sheer innovation and cutting-edge mining technology, the company has prospered beyond the investors’ expectations. The energy firm has swallowed up smaller independent oil and gas companies in its path to the top. For instance, in 2012, Talos Energy LLC successfully acquired Gryphon Exploration Co and Phoenix Exploration Co.

Opening up the Private Energy Sector

In May this year, the Houston-based Talos Energy, LLC started drilling at an offshore oil deep in the Mexican Gulf waters. It’s the first offshore well sunk by a privately run oil and gas giant in the last 80 years. Previously, the state-owned Petroleos Mexicanos enjoyed a substantive monopoly in this vital sector. The move falls in line with a broader agenda by the Mexican government to attract more local-based firms to invest in the lucrative albeit struggling energy sector. The milestone deal brought together three companies: Sierra Oil and Gas Inc., Premier Oil PLC from the UK and Talos Energy LLC. The deal saw Talos acquire a 35% stake while Sierra and Premier Oil hold 40% and 25% respectively.

Drilling is already in progress at the Zama 1 well in Tabasco. Experts estimate that the well holds up to 500 million barrels of crude oil valued at billions of dollars. The cost of drilling the 500 million barrels is set at a modest $16M. Elaine Reynolds, an energy analyst based in London, asked his clients to invest quickly in the deal to profit later. Edison is a consultant with the Edison Investment Research Ltd.

About Talos Energy LLC

Talos Energy LLC is an independent and devoted oil and gas production company with a startling track-record spanning back decades. The company stands out tall for its above and beyond sustainable models. The oil company employs the latest and the safest technologies to produce final products. The firm has expanded to now control well over 33,000 square miles of potentially oil-rich acreage. Talos is heavily invested in community development and empowerment causes in the Louisiana regions and in the Gulf of Mexico areas. To learn more about the impressive CSR programs and careers available at the oil and gas conglomerate click here.

Read More : www.talosenergyllc.com/about-us/

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