In 1938, the country of Mexico nationalized its oil industry. Since then, no private oil or gas company has been allowed to sink a well in Mexico, including offshore. But the Mexican government recently enacted major reforms, allowing the first private wells to be drilled and more information click here.
Talos Energy LLC of Houston is among the first private enterprises to be awarded a bid to explore for oil off the coast of Mexico. Talos partnered with London-based Premier Oil and Sierra Oil, and independent Latin American firm for the project which got under way in May of 2017 and learn more about Talos Energy.
The new well is called ZAMA-1. After some 90 days of drilling the effort successfully struck an oil reserve estimated to hold about 1 billion barrels of crude. It far succeeded initial geological estimates which predicted the site might yield 100 to 500 million barrels of oil.
Talos Energy will be the operator of the well and it holds a 35% stake in the project. Premier Oil and Sierra Oil hold 25% and 40% respectively.
The successful strike at the ZAMA-1 site has been called a “historic event” by industry analysts. Not only does it represent as new era for the Mexican oil industry by allowing private investment in energy resource development, but the amount of crude discovered will have a significant impact on the world supply of oil.
Talos Energy is among the most innovative gas and oil companies in the world. The company focuses its exploration efforts in the Gulf Region, both in Mexican and American waters and their Facebook.
Talos Energy has received recognition and numerous awards for operational excellence and safety, but also participates aggressively in supporting local community and charity events. For example, Talos recently sponsored the Annual Moore, Morgan & Greer Memorial Golf Tournament in Mississippi which raised $28.000 for the American Cancer Society and the American Diabetes Association.The enormous success of the ZAMA-1 project promises to be just the first among many more to come. Talos Energy looks forward to working in cooperation with the Mexican government and private partners around the world in supplying the world’s energy needs and Talos’s lacrosse camp.