Talos Energy Among First to Invest in Mexican Oil Industry

Named the “best workplace among local small businesses” by WorkplaceDynamics in 2013, Talos Energy, originating and operating out of Houston, Texas, has since been extremely successful at growing its business portfolio. A Private equity company, Talos Energy has landed one significant acquisition after another in recent years, and currently stands as a fast growing, independent oil and gas company committed to “exploring, exploiting, and optimizing” deep water assets in the Gulf of Mexico via safe and “environmentally compliant operations.”

Making use of “cutting-edge seismic technologies,” Talos Energy, as a growing enterprise, is built on the foundation of two previously acquired and developed Gulf of Mexico oil and gas companies: Gryphon Exploration Co., and Phoenix Exploration Co. Today, Talso Energy continues to grow into a world-class oil and gas company, especially with its latest investments in the Mexican oil and gas industry.

Since the nationalization of the Mexican oil industry in 1938, no company other than the national Petroleos Mexicanos has been allowed to drill in Mexican territory. With recent efforts at reforms, however, the Mexican Government is allowing, for the first time in nearly 80 years, for private companies to begin developing the country’s oil industry.

The very first private offshore well being drilled since the reforms began May 15,2017. The well is a joint venture by the london-based Premier Oil Plc., the Mexican Sierra Oil & Gas Company, and Talos Energy LLC. The well is a Zama-1 well located in the Sureste Basin of the coast of Tabasco. The well is expected to hold anywhere between 100 million to 500 million barrels of crude, and Talos Energy holds a 35% stake in the venture.

As the first private venture within the Mexican oil industry since the economic reforms, the success or failure of this offshore well will be watched closely. Expected to last for up to 90 days, the geological characteristics of the basin do indicate a high potential for success. As it stands, all three companies, Talos Energy included, stand to benefit from this venture as they set precedent for private sector involvement in the Mexican oil industry.

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