The global oil industry is a dynamic industry that is constantly changing and providing opportunities for fresh and unexpected players to expand their roles in the industry and to usher in unforeseen developments. One of these players is a company that is based in Houston, Texas and that is known as Talos Energy. In the Spring of 2017 Talos Energy reached an important milestone and made history as one of the very first privately-owned businesses to sink an offshore oil well off of the coast of the North American nation of Mexico in nearly a century. To individuals who are not familiar with the oil industry and how it operates this news might sound like a routine development but anyone who is familiar with the Mexican oil industry and how it operates will likely understand that what Talos Energy was able to accomplish by sinking this offshore oil well in 2017 was a groundbreaking effort and more information click here.
What makes Talos Energy’s accomplishment so notable is the fact that since 1938 the Mexican oil industry has been privatized. In many countries around the world entry into the private sector is often open to any individual or company that is able to afford the costs of running a business and filing the paperwork to incorporate. However this is not the case in Mexico where the oil industry is concerned. When the oil industry was privatized in the Latin American country during the 1930s this meant that the only entity that could operate in the Mexican oil industry was a entity that was owned and controlled by the Mexican government and that is known as Petroleos Mexicanos and learn more about Talos Energy.
But Talos Energy’s entry into the Mexican oil sector has a sign that things are changing. The oil well in question is known as the Zama-1 well and according to a report is believed to have up to approximately 500 million barrels of oil. Talos Energy partnered with a Mexican oil company known as Sierra Oil and Gas and a British oil company known as Premier Oil Plc in this effort and Talos Energy on Facebook.
Talos Energy is a newcomer in the energy industry that was launched by Tim Duncan. The company has been able to produce 16,000 barrels of oil on a daily basis and has a staff that includes 120 people. Talos Energy has experienced a period of growth marked by an influx of capital from firms such as Riverstone Holdings and a period of acquisition that included acquiring Helix Energy Solutions and Talos Energy’s lacrosse camp.