Around 80 years ago, in Mexico, a political storm was brewing. The economy was not going as well as planned and certain people had plans to nationalize the oil and gas industry. After all, they didn’t want foreign investors coming in and stealing all the profits. However, their viewpoint has changed since then. Now that political expediency has risen for the occasion, the country is opening its borders for outside investment in an oil rig. It was recently sunk on the coastal waters of the Sureste Basin off of Tabasco, a relatively small Mexican state.
Formerly, and since 1938, Pemex was the only company that could do such a thing. Now, the season has changed. Three companies won a bidding competition back in 2015 to see who would be able to take over the drilling of the well, which analysts have been following closely and estimate to hold anywhere between 100 and 500 million barrels of oil. The three lucky firms are Talos Energy, Sierra Oil and Gas, and Premier Oil.
Talos Energy will be operating the well. It was founded in 2012 by two larger parent companies. The companies put $600 million into it because of the resources required of the demanding industry they work in. Talos seeks and exploits natural resources like gas and oil along the coastal waters of Mexico and the U.S. They have numerous rigs working all the time and often pull in about 16,000 barrels of oil per day. This number is staggering. They have made so much revenue yearly, $500 million this year, that they were able to acquire Helix Energy Solutions for $620 million.
The company has numerous benefits of working there, such as daycares for the kids, snacks, special days where the workers can dress up, and team and office holiday parties. The compensation packages are designed to allow the common man to share in the profits of the company. Usually, this is not done. When asked to comment, senior management pointed to this policy as to why their employees are so motivated on a daily basis. It is supposed to keep profits running smoothly.
To Learn More : https://www.crunchbase.com/organization/talos-energy