Talos Energy Begins Drilling in the Gulf of Mexico
At the end of May, Workboat.com posted an article detailing the creation of Mexico’s first private oil well in 80 years. This change was pushed forward by the country’s plan to increase the number of foreign competitors allowed to be part of their energy markets. The well, titled the Zama-1 well, was placed off the cost of Tabasco in the Sureste Basin. Once built it took another 90 days to drill downwards to the proper depth. Based on estimations, the well will be able to hold over 100 million barrels of crude.
The $16 million project, which began drilling for crude oil on May 21, 2017, is one of the first foreign offshore explorations since 1938. The Zama-1 well is being monitored carefully because it is the spearhead movement which will see if Mexico will keep its waters open for their energy reform process. The roject is being handled by three companies, Premier Oil Plc, Sierra Oil & Gas and Talos Energy LLC.
Talos Energy LLC, who holds a 35% of the Zama-1 well venture, is an independent gas and oil company based out of Huston, Texas. The Talos Energy team has experience in several relevant fields that pertain to offshore production and exploration. While Zama-1 may be one of their first projects in the Gulf of Mexico, the company plans on increasing their amount of deepwater assets in the area. They are determined to use their knowledge of seismic technologies and innovative techniques to not only harvest crude oil, but also explore the unseen depths of the gulf.
Talos Energy LLC has been able to make a name for itself ever since it was founded in 2012. With a positive track record, the company has been able to grow and thrive in a difficult market because the control a large portion of the production process. This allows them to increase production performance, harvest more hydrocarbon with unique drilling techniques and maintain quality throughout the whole drilling process. By saving both time and money, Talos Energy has been able to expand while also giving back to investors. The company has also made sure that safety for both their employees and the environment comes first.