Talos Energy and the Performance of Energy Market in Mexico

According to the news article released on https://www.workboat.com, the reform in oil and gas business was witnessed in Mexico after eighty years of monopoly. Currently, Mexico is encouraging foreign companies to participate in its energy market. On May 21, there was a joint venture of well drilling process between three companies, which are Talos Energy, Premier Oil, and Sierra Oil & Gas. The drilling process was taking place on the coast of the Mexican waters. Premier also explains that it was the first offshore well exploration to be propelled by any other company apart from state-owned firms. The three firms won the tender in 2015, the period after which Mexico decided to open the gate of its ailing gas and oil industry.

The Zama-1 well, which is located in the Tabasco Basin is estimated to hold more than 100 million drums of crude oil. Therefore, the drilling work is expected to take more than 90 days into completion. The drilling cost is also approximated to be $16 million. Being the first project to be performed by foreign firms after 80 years, the project is under the radar of several interested parties. Also, due to the implication of the energy market in Mexico, exploration of the Zama-1 well is one of the interesting projects in 2017.

About Talos Energy

As a privately owned company, Talos Energy efforts involve the exploration of offshore properties such as oil wells. It has a team of experts who are passionate about acquiring properties and assets along the coastal region of Mexican Gulf. Being a company that belongs to the energy sector, Talos Energy emphasizes on proper exploitation, asset optimization, and exploration as well.

Talos Energy is smarter with its strategies when it comes to asset optimization and exploration of offshore properties. It has a state-of-the-art 3D data system that can cover a distance more than 30000 square miles. While in operation the technical teams can reprocess the data collected by the systems, which in turn help them with the optimization of the drilling inventory and evaluation of the properties that are jointly acquired. Also, the combination of this modern technology and the skills of company’s technical team have allowed Talos Energy to continue being successful in the oil and gas drilling business.

Their Facebook Page: https://www.facebook.com/talos.energy/