Talos Energy Puts Their Expertise to Work in the Mexican Oil Industry

Talos Energy has utilized their oil drilling expertise in a joint project that made history as Mexico allowed foreign investment in their oil industry for the first time since it was nationalized in 1938. This new offshore well was the first step Mexico took to help their ailing oil industry and this endeavor will be watched closely by industry observers. The significant potential of Mexican energy markets has never been in doubt and this groundbreaking first step will hopefully bring an excellent boost to the country.

This joint venture is being accomplished by Talos Energy from Houston, Tx., London-based Premier Oil Plc., and Mexico’s Sierra Oil & Gas. This history-making occasion is the first well to be drilled by a company other than the state-run Petroleos Mexicanos and Talos Energy has the right experience for the job.

The well is called Zama-1 and it is located in the Sureste Basin which is offshore from the Mexican state of Tabasco. The estimates for the well’s capacity vary from 100-500 million barrels of crude and it is a solid first step for the Mexican oil industry. These three companies won the rights to this project in 2015 when the Mexican government took this historic step to open up their energy market.

An industry analyst from Edison Investment Research Ltd., Elaine Reynolds, detailed the great interest that the project has generated in the worldwide industry. She also believes that according to the structure of the basin the project has great odds for success. Another analyst from Canaccord Genuity Ltd., Charlie Sharp, spoke of the well’s importance to the Mexican government and its people.

Talos Energy is an independent oil operator who specializes in offshore exploration and production. The areas in which they operate include the Gulf Coast and the Gulf of Mexico. They are skilled in maximizing production and optimizing procedures which lead to the most efficient endeavors. Their strategy for developing assets is based upon their sizable seismic database and proprietary reprocessing techniques. Their aim is to maintain control of virtually all of their production and apply their cutting-edge practices which help them increase their recovery output.

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