In the Mexican waters of Tabasco, something new is brewing. It’s an oil well that hasn’t been allowed for nearly 80 years in the country. The only reason it’s being allowed to be operated by foreign companies now is that their economy has failed to bring the kind of profits back to the people that they had planned. Since Pemex was the only game in town for too long, a monopoly had begun to form and the resources to invest in innovation were dwindling.
That all changed in 2015 when the leaders of Mexico decided to allow bidding on a new oil rig off the coast that was just sunk recently. Experts in the oil and gas field have been following the story closely. Analysts are predicting that the operation will be a success, bringing anywhere from 100 to 500 million barrels of oil to life in its lifetime. The three companies are quite special that are running it as well. Talos Energy, Premier Oil, and Sierra Oil and Gas are the winners. Talos is from Houston, Premier is out of London, and Sierra is home grown in Mexico.
The three firms are said to be working together closely to ensure all proper safety measures are being accounted for. The firms will split the proceeds almost evenly, with Sierra getting a little more than the others and supporting the tax base in Mexico, as part of the deal the three companies struck up.
Talos Energy is a dynamic and growing company out of Houston, TX. Two hedge fund managers put their minds together and used their innovative techniques for offering returns to investors by putting a large sum of $600 million in equity backed funding to start the company. It has since seen wild success, acquiring a Helix subsidiary and spending $620 million in the process. That paid off, as they now enjoy almost $500 million in yearly revenues.
The company says they reinvest these revenues into their people. They use profit sharing and a range of other perks. This makes the office a fun place to be, not to mention financially stable.