Mexico Opens Up Energy Market to Foreign Investment from Talos Energy and More

Nearly 80 years ago, Mexico’s government wanted to make the oil and gas industry nationalized. So they prevented any private companies from building oil wells or drilling in Mexico or its water since then. However, a new age is booming in Mexico and what Talos Energy knows.

A new oil rig project is being developed off the coast of Tabasco, led by three companies: Talos Energy, Premier Oil, and Sierra Oil and Gas. The companies are based in the U.S., England, and Mexico. It marks the first time since 1938 that any outside companies will be a part of drilling in Mexico.

The oil well is named Zama. Situated in the Sureste Basin off of Tabasco’s coast, it is shaping up to be a profitable well. It is estimated to hold up to 500 million barrels of crude. The scientists researching it predict a successful project based on the geology of the site and more information click here.

In order to earn the right to drill there, the three companies in question had to bid in a competitive battle in 2015. Now, the stakes are divvied up fairly evenly among the three in the oil takings. And it’s an adventure that the rest of the industry will surely be watching. Talos will receive 35% from the well, Premier will get 25%, and Sierra will receive 40%. Talos will be the company that primarily operates the rig day to day and Talos’s lacrosse camp.

Talos Energy is a unique oil and gas company operating out of Houston, Texas. It is private and was started with several hundred million dollars from previous backers. It recently acquired Helix Energy Solutions to the tune of around $600 million. The company focuses on opportunities to drill off the coast of Mexico and the U.S. and https://www.crunchbase.com/organization/talos-energy.

Now, it is enjoying yearly revenues of around $500 million and growing. Because of this, the staff have grown from a dozen to more than one hundred. The employee atmosphere is second to none thanks to the many perks. For example, employees share in profits from the company in terms of equity. Furthermore, happy hours on Fridays and built-in daycares make it a pleasant place to work and its Facebook.