It took the joint efforts of three companies to break a solid 80 years of time and kick-start an offshore oil well. London’s Premier Oil Plc, Mexico’s Sierra Oil & Gas and Houston-based Talos Energy joined hands to initiate the venture in the Mexican waters. It is the first and only offshore drilling attempt that was initiated by other hands other than the norm which has been Petroleos Mexicanos, a monopoly controlled by the state and what Talos Energy knows.
The well, named Zama-1 based in the Sureste Basin has an approximate of 100 to 500 million crude barrels. Premier later adds that they are hoping the drilling takes about 90 days to be done with. This will incur charges of about $16 million to the company. Together with the other two companies, they were able to secure themselves with the prospect’s rights in 2015 just as they opted for bidding after the country made the oil drilling industry an open platform to private investments and Talos Energy’s lacrosse camp.
This well being non-Pemex and the first one of its own attracted strict vigilance from the industry. A London based analyst Elaine Reynolds clears the air about this and later adds that they are positive about the success of the initiative considering the well-set basin structure which is a direct reflection of its geological chances of success and Talos Energy’s Website.
The Zama 1 is expected to play a major role in uplifting Mexico’s economic state premier later gave out statistics on the operation’s shares which it had 25%, followed by Talos which secured a 35%, and lastly Sierra leading with 40% and more information click here.
About Talos Energy.
Talos Energy is an oil drilling company that is based on entrepreneurship values which have been the key to its breakthrough over the years. The company’s personnel are encouraged to bring out their best ideas and thoughts thanks to their Boss’ strong belief in unity and togetherness for best results. This helps them think out of the box and come up with smart ideas for the better of the company.
According to Duncan, a Talos Energy employee, he still recalls his bosses interest in what they had in mind about ways to making the company better. As a manager, this inspired him and has employed the technique ever since. Talos energy is a private firm and therefore has more opportunities of entrepreneurship than public setups and https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=183786013.