After a long period of absence, a foreign private resource firm will be operating in Gulf territories owned by Mexico. The move marks a significant first step in Mexico bringing back privatized business to its water with nearly 80 previous years of monopolizing the region. This latest venture will be a joint operation between Premier Oil and Talos Energy, as well as the state-owned Sierra Oil and Gas company.
The well at the center of the deal is located in the Gulf of Mexico in its Sureste Basin. Talos Energy has been assigned the primary responsibilities in the overall operation and will drill for approximately three months. Together, the three companies bid for the prospect in 2015 and were awarded access as Mexico attempts to drive more value into its underwhelming natural resource economy. The cost of exploration and drilling will cost Premier Oil about $16 million for up to 500 million crude barrels.
As an experienced operator in the region, Talos Energy has extensive knowledge of Gulf terrain and owns a thirty five percent stake in the current venture. The Zama well is of particular interest due to its likelihood for success based on geological factors, and could be the key for Mexico to breathe new life into its energy sector.
Talos Energy is a natural resource company that focuses its efforts on production and exploration of offshore sites. The company’s portfolio includes a massive amount of data that spans thousands of acres of terrain related to natural resource wells. Through a dedicated team of investors and scientists, Talos Energy is committed to responislbe exploration and acquisition of resources with minimal impact. The company is headquartered in Houston, Texas and primarily operates along the Gulf Coast and Gulf of Mexico.
Prior to its creation in 2012, the founders of Talos Energy possessed decades of combined experience in resource exploration. They were behind two separate natural resource companies operating in the Gulf of Mexico. The firms Gryphon Exploration Co. and Phoenix Exploration Co. blossomed into successful ventures and allowed the founders of Talos Energy to move forward with the establishment of the company.
About Learn More Click Here