Mexican Oil Reforms Favors Talos Energy among Other Private Well Explorers

Talos Energy LLC is a globally recognized privately held company that was first established in 2012 in Houston. The company offers oil and gas exploration, acquisition and exploitation services with a greater focus to the Gulf of Mexico and Gulf Coast. The company’s operations are partly facilitated by Talos management, Riverstone Holdings LLC, and Apollo Global Management LLC investment funds.

Talos is among the companies that were competitively awarded the tender to sink new offshore oils wells in Mexico for the first time in 80 years. This decision was objectively arrived at particularly to enable foreign competitors back into energy markets. The other two companies in the joint tender are Premier Oil Plc. from London and Sierra Oil & Gas from Mexico.

The three companies have already embarked on oil drilling process. This offshore exploration is the first of its kind launched by Petroleos Mexicanos, a state-run monopoly since 1938. According to the premier Zama- 1, a well located off Tabasco State in the Sureste Basin, holds between 100 and 500 million barrels of crude oil. The drilling will take up to 90 days at an estimated cost of $16 million and Talos on Facebook.

The three contracted companies won the drilling rights in 2015 after the latter announcement to open the oil industry to the private investments. Being the first non-Pemex well drilled after the energy reforms, the process of exploration will be highly followed. Elaine Reynolds who serves as an analyst at Edison Investment Research Ltd also confirmed that the project will be closely monitored by the industry and Talos’s lacrosse camp.

The structure of the basin clearly indicates that the project has a high geological chance of succeeding. Genuity Ltd analyst, Charlie Sharp. The drilling venture is mutually shared with Talos holding 35% of stake, Sierra with 40% of stake and Premier holds 25% of the stake and what Talos Knows.

In summary, the president and chief executive officer at Talos Energy Ltd is particularly excited about the ERT transaction which was recently closed. He is also optimistic that the company’s team will continue to scale the company high in the exploration success at the Gulf of Mexico and Gulf coast and http://www.reuters.com/article/mexico-oil-idUSL2N0ZX29420150717.

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