Talos Energy Strikes Historic Deal With Pemex

Talos Energy has one of the most significant imprints in the Gulf of Mexico when it comes to oil and gas companies. Their staff has decades of experience and dedication to searching for and exploiting natural resources. Recently, they have made some impressive moves to create an even more significant impact. During negotiations with the U.K oil and gas company, Premier Oil and Mexico’s Sierra Oil and Gas, Talos was able to make a deal with Pemex to drill and produce oil in Mexican shallow water blocks.

Pemex agreed to a 2-year preliminary contract that is up for review at any time by the President-elect, Obrador. Talos is confident that they can produce a lucrative amount of oil from the A-7 shallow water location, as their Zama-1 well confirmed a deposit that is likely to produce 1.2 billion to 1.8 billion barrels of oil. With quantities that significant, there is no question why Pemex would allow them to drill for natural resources in Mexican waters.

Moving into Mexican territory is not the only strategy that has seen great success with Talos Energy. Recently they placed bids on all 14 blocks of acreage available for sale in the Gulf of Mexico during the federal lease sale. Miraculously, Texas-based Talos Energy was able to sweep up all 14 blocks for $5.3 million. This property equates to 75,000 net acres of the Gulf of Mexico, including six deep water and eight shallow water sites in which they can drill for oil.

Talos Energy also has recently merged with bankrupt oil and gas explorative company, Stone Energy. Chief Executive Officer Tim Duncan of Talos Energy worked diligently through the perilous events of Hurricane Harvey. The storm ripped through and waterlogged his Houston town of Kingswood during the $2.5 million negotiations. The negotiations were a success, and in May 2018 the two companies became one and are now producing roughly 16,000 barrels of oil day; They aim to do far more than this in the future. With a dedicated leader like Tim Duncan at the helm, its no wonder Talos Energy is such a success with seeking out and exploiting natural resources in the Gulf of Mexico.

To Learn More Click Here

Leave a Reply