Mexico`s Offshore Exploration by Talos Energy
About the Exploration Project
Mexico decided to privatize mining operations in its offshore areas. Some companies were recently allowed to sink an oil well in Mexican waters. Although the subject had been ongoing for the last 80 years, the government decided to allow private companies to revive the economy. The project was awarded to 3 companies, with Talos Energy as the leading operator and learn more about Talos Energy.
The association began work on the project on 21st May 2017. This project was a joint operation by Houston-based Talos Energy, Mexico-based Sierra Oil& Gas and London-based Premier Oil. Talos has a share of 35%, Sierra owns 40% while Premier shares 25%, of the project. Premier Oil CEO was delighted by the project. Being the first offshore exploration, by a private sector, the project is a national success. The privatization of the industry will provide competition to the government parastatal, Petroleos Mexicanos.
The oil well, Zama-1, was sunk in Sureste Basin, state of Tabasco. Its reserve is estimated to contain around 100-500 million barrels of crude oil. Premier hoped that the three companies will complete the drilling in 90 days. Having won the rights to the project in 2015, the three companies will share the cost according to their ownership. The exploration is expected to cost around $16 million and Talos Energy’s lacrosse camp.
Edison Investment`s analyst, Elaine Reynolds, described the project as a success. The London-based specialist used the company`s geological evidence in her ratings. Given that the project was part of Mexico`s energy reforms, Elaine recommended close monitoring. Canaccord`s analyst, Charlie Sharp, described the project as the best exploration in 2017.
About Talos Energy
Talos Energy deals with offshore exploration. The company has run successful projects in the Gulf of Mexico. It optimizes and exploits assets, oil and gas, using advanced equipment. Talos has highly qualified and experienced employees and Talos Energy on Facebook.
The reputation of Talos Energy has been growing over the years. The management hopes to make it a world-class company. While meeting its objective, Talos ensures it complies with environmental regulations. It also finds better operational techniques to have a competitive edge in the industry and more information click here.