New reforms in the Mexican energy sector have seen it open up an otherwise restricted industry to foreign players. These reforms are part of the measures being undertaken by the Mexican government to revive an otherwise ailing sector. The new developments have opened up the industry to other to competition from other foreign companies.
One group that has sought to take advantage of the reforms is the Dallas-based oil and gas exploration firm known as Talos Energy. This enterprise has partnered together with two other players namely Premier Oil Plc from London and Sierra Oil & Gas to drill the first offshore well in Sureste Basin off the coast of Tabasco state. The well goes into the history books as the first one to be drilled by a different business entity other than the state-run Petroleos Mexicanos.
The well that Talos Energy is drilling is called Zama – 1 and has the potential to generate between 100 million and 500 million barrels of crude oil during its lifespan. Zama well is touted as one of the most attractive wells to be drilled in the Mexican oil and gas sector this year. The structure of the Surestse basin on which Zama is drilled suggests that the project will yield the expected amount of crude oil.
According to the joint venture between Talos and her partners, Talos Energy will operate the well and its stake in the venture is capped at 35%. Sierra and Premier hold the remaining stake at 40 and 25 percent sharing, respectively.
Talos Energy has cut out a niche for itself in the global energy sector. The company boasts of an ever-so-promising future given that it has achieved several feats within the short period it has run its operations. On the list of best workplaces by Workplace Dynamics, Talos Energy is leading. Much of the success at Talos Energy can be attributed to the enterprise culture at the firm. The company strives to ensure that all its employs own part of the business.
Talos Energy is keen on redefining the Mexican oil and gas sector by bringing in an innovative culture to the process of asset acquisition, exploration, and exploitation.
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