After about 8 decades of having a fully state-operated oil and gas drilling industry, Mexico finally voted to allow private oil and gas drilling companies to operate in the country in 2015. This was due to the poor performance of the industry. Private drilling of oil in the country finally began in May 2017. This was a joint operation of three companies: Talos Energy LLC, Premier Oil PLC and Sierra Oil & Gas. The three companies own 35%, 25% and 40% stake in the venture respectively. The Zama-1 well is expected to produce anything between 100 million and 500 million drums of crude oil and the drilling will be completed in about 3 months.
About Talos Energy
While Talos Energy is a relatively new player in the Mexican oil and gas drilling industry, it has grown tremendously over the few years it has been in operation. For instance, the number of employees has increased from just 15 when it was started to well over 100. The company has grown through acquisitions of other companies in industry, and this has enabled it to create more employment opportunities and increase their production capacity, hence increasing their revenue as well. It has acquired several assets around the Gulf of Mexico and the Gulf Coast regions over the years.
In 2013, Talos was named the best place to work by Workplace Dynamics. The CEO of the company, Tim Duncan, said that this was because each and every one of their employees holds a stake in the company, and the company’s performance directly affects their investments. Employees are therefore motivated to work hard and they derive a lot of fulfillment from their work.
Industry analysts are keen to see the results of this bold move by Mexico. Their expectations are high because of the structure and location of the Sureste Basin, which is where the Zama-1 well is located. Talos Energy and the other two companies doing the drilling are known for their individual successes with oil drilling projects, and this makes it even more likely that the project will be a success.
To Learn More : www.talosenergyllc.com/about-us/