For eighty years now, no private oil company has opened a new well in the Mexican Gulf. The government of Mexico has taken a step to bring foreign competitors into their energy markets. Sierra Oil & Gas, a Mexican company, and Talos Energy LLC combined in the initiative of offshore exploration. This is the first drill by a company other than the sole, monopoly company Petroleos Mexicanos since the oil industry in Mexico started in 1938.
The Zama-1 well that was dug off the Tabasco shores holds about 100 million to 500 million barrels of oil. The drilling process lasted 90 days which cost Premier company %16 million dollars to complete. The companies carrying out the project got the right for it in 2015 in a bidding, right after Mexico opened up its suffering oil industry to private companies.
Since this is a new well of its kind in the Mexican waters, it is observed at all times, since the project has high chances of success from a geological viewpoint. Talos is the operator of the well with a 35% investment into the project. The other 40% belongs to Sierra, and 25% belongs to Premier.
One of the investors, Talos Energy, is an oil and gas company doing offshore exploration and drilling. Most of the activity of the company is located around the Gulf of Mexico and the Louisiana coast. For the 70 years that the company has been in operation, the drilling has advanced which has given a greater scope of investigation and drilling. The technical advancements and experience in using drilling technology have allowed the company to be successful in acquiring oil from the specific regions.
The team of Talos Energy is independent and adds to the success of the company. The company places its people first which greatly contributes to its competitive success with businesses. By maintaining leading practices in all parts of the oil-acquiring operations, the company envisions to improve production, increase hydrocarbon recovery with special drilling and completion processes, and reach the goal of a healthy, safe and environmentally-friendly interference.
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