Talos energy made history this year as being among the three companies that were to drill an offshore oil well. Together with Premier Oil PLC and Sierra Oil & Gas (Mexico), they began drilling the well on 21st May.
This project made history because it’s the first project whose operations will be overseen by a company that is not state-owned. Petroleos Mexicanos has been in charge of all offshore well exploration since 1938.
The forecasted drilling process was set to take up to 90 days with an estimated cost of $16 million. The well which is in the Sureste Basin was estimated to hold between 100-500 million barrels of crude oil. Mexico willingly decided to open up its struggling industry to bidders. That is how the three companies acquired the rights to oversee the project and more information click here.
Regarding shareholding, Talos, which was the well operators owned 35% stake; Sierra held 40% and Premier 25%.As an action seen as one of a kind, in the oil history of Mexico, the potential success rate was high. Sources say that as at July, a billion barrel oil had been discovered on the well known as the Zama-1 well project.
Talos Energy is a private oil and gas company whose primary focus is on offshore oil production. One of their focuses is on asset acquisition as they explore oil-generating regions. These regions are mostly Gulf of the Mexican areas and the Gulf Coast.
The company has been in operation for over ten years. Their activities are environmentally friendly which has made them stay relevant among their competitors. Their expertise and strategy towards oil exploitation have helped in quality service delivery. They also have skilled workforce to enforce their operations and learn more about Talos Energy.
Most notably is Ash Shepherd, the manager at Talos Energy. Shepherd acquired the Thirty Under 40 honoree in 2016. He significantly signed the first two contracts relating to production sharing in Mexico’s 2013 energy reforms and Talos Energy’s lacrosse camp.
Probably one of the biggest achievements at Talos is that the company was the first ever foreign oil operator in Mexico. The oil industry was previously a monopoly. In 2013, Workplace Dynamics named Talos Energy as the best workplace for employees in comparison to other small businesses.