The Zama-1 well is a joint venture being conducted by Talos Energy of Houston, Premier Oil of London, and Mexico’s Sierra Oil and Gas company. Mexico recently voted to allow foreign competitors back into their oil industry to boost their failing market. Ever since Mexico nationalized its oil industry, the Petroleos Mexicanos have controlled all offshore wells and explorations. This is the first time in almost 80 years that private companies are being allowed to participate in a the exploration of a well in Mexican waters.
Zama-1 is believed to hold anywhere from 100 million to 500 million barrels of crude oil and it will cost Premier oil about $16 million to conduct the project. Due to the geological build of the Zama-1 well, it is predicted to be extremely successful and it is a large pot of interest for everyone in Mexico. It has the potential to completely turn around their oil market.
Talos Energy’s subsidiary Talos Production LLC recently acquired the oil and subsidiary of Helix Energy Solutions Group, the Energy Resource Technology GOM for over 600 million dollars. In December of 2013, Energy Resource Technology collected over 16,000 barrels of high quality crude oil every day. Over 70% of those were oil weighted. In addition, the Energy Resource Technology group recently had huge success in the Wang exploration. The Wang exploration discovered over 100 feet of net oil in the Green Canyon Block of the Phoenix Field. The CEO and President of Talos Energy, Tim Duncan, is excited about this acquisition and believes it will allow them to create a large E&P company right on the lower Gulf Coast and the Gulf of Mexico.
Despite being a relatively young company, Talos Energy is making a name for itself all over. One of the ways it has proven to be reputable company is in its treatment of employees. They are all compensated fairly in salary, and each employee from scientists to receptionists are given a small piece of equity in the company. They were recently awarded the honor of being named one of the best places to work in the Houston area.
For more information follow Talos Energy on Facebook.
Rainbow34 June 29, 2017
Posted In: Uncategorized