Talos Energy LLC, Premier Oil Plc, and Sierra Oil & Gas began oil drilling May 21, 2017 in waters around Mexico. This is the first well to be drilled by anyone other than Petroleos Mexicanos since 1938 when Mexico’s oil industry was placed under government control. The well is in 546 feet (166 meters) of water. (www.talosenergyllc.com)
Mexico has been reforming their energy industry. In 2015 the three companies won bidding rights when Mexico opened their oil industry to private investors. 100-500 million barrels of oil are speculated to be produced from the well in the waters off the state of Tabasco. Talos Energy holds 35% stake, Premier Oil owns 25% and Mexico’s Sierra Oil & Gas hold 40% state in the enterprise. The well off the Sureste Basin in Mexico is a Zama-1 well.
Talos Energy LLC is a Houston based company and was formed in 2012. Timothy S. Duncan is the President and CEO of Talos Energy LLC. Talos Energy’s Facebook page lists their expertise as “exploring and producing offshore hydrocarbons in the US Gulf of Mexico region as well as offshore Mexico”. Business development activities are also part of Talos Energy. They are able utilize 10.2 million acres of seismic inventory for JV’s and farm-in’s. Talos Energy LLC has $600 million in equity. (http://www.chron.com/business/top-workplaces/article/No-1-small-company-Talos-Energy-4936577.php)
The management team for Talos Energy LLC has worked together for over 10 years. They have developed a brilliant portfolio of investment opportunities. Talos is committed to environmentally compliant and safe operations to produce oil and gas for global energy needs. Talos’s goal in the Gulf of Mexico is to continue to locate “optimal drilling locations within their existing portfolio”. (www.talosenergyllc.com)
Talos Energy LLC was named the best workplace by WorkplaceDynamics . In Duncan’s words “This is an environment where we’re all going to row the boat together”. (http://www.chron.com/business/top-workplaces/article/No-1-small-company-Talos-Energy-4936577.php) Everyone involved with the company receives equity.