Recently, Mexico resolved to allow foreign mining organizations venture into the country’s energy markets in a bid to revive its ailing oil industry. In 2015, they opened bidding for this mining project in 2015, and the top three companies were selected. These are Houston’s Talos Energy, Mexico’s Sierra Oil & Gas and London-based Premier Oil Plc, who will work jointly on the venture. The three firms will join Petroleos Mexicanos, a state organization that has enjoyed the monopoly of exploring the valuable resource since Mexico nationalized its oil sector in 1938. Drilling of the Zama-1 well, which is based at Sureste Basin began on May 21st. The well is said to hold about 100-500 barrels of Crude oil. This venture was a significant step for Talos Energy, which holds 35% in the joint project.
Talos Energy is a gas and oil company that specializes in exploration and production of hydrocarbons in Offshore Mexico and the US Gulf of Mexico. The firm was founded in 2012 by and it has its headquarters in Houston, Texas. Talos Energy was established together with Riverstone Holdings and Apollo Global Management, with whom they have partnered to explore and optimize assets in the Gulf of Mexico as well as the Gulf Coast. Talos also owns 10.2 million acres which they use for economic transactions. Additionally, the company applies innovative strategies to build attractive investment portfolios that grow into valuable firms. The management team has so far developed and sold two such companies, Gryphon Exploration and Phoenix Exploration. The two were successful ventures that gave profitable returns to the investors. To know about Talos Energy click here.
The top management team of Talos energy comprises Timothy S. Duncan as the President and CEO; Stephen E. Heitzman as Vice President and Chief Operating Officer; and Michael L. Herding as Vice President and Chief Finance Officer. These officials are innovative, dedicated to the company’s course and they continue to lead Talos Energy to be a global leader in energy exploration and exploitation as well as they diversify the firm to other viable and creative investments such as developing and selling well established and fully-fledged exploration companies.
Their Facebook Page: https://www.facebook.com/talos.energy/