Mexico has recently experienced an upturn in its oil market after the country voted to begin allowing foreign competitors back into the market. This has not been done since the 1930s when Mexico nationalized their oil industry. Ever since, the state run monopoly Petroleos Mexicanos has dominated the oil field in the Mexican waters. Houston’s Talos Energy, London’s Premier Oil, and Mexico’s Sierra Oil and Gas company are all working together on the first venture of privately owned companies into Mexican waters. This exploration is named Zama-1 and is expected to draw a lot of interest this year.
Talos Energy has a 35% stake in the company and is the operator of the Zama-1 well. The project is estimate to take about 90 days to complete. Premier Oil expects to spend around 16 million dollars in total on the project. This digging will take place just outside the state of Tabasco and in the Sureste Basin. Thanks to the prime location and perfect structure of this area, the Zama-1 exploration is predicted by analysts to be a huge success. There is an estimated 100 million to 500 million barrels of crude oil waiting to be extracted from the Zama-1 well. This project will have a huge effect on the current Mexican market and is expected to mutually beneficial for all the companies involved.
Talos Energy was created in 2007 and is based in the Houston area. They are primarily focused on the exploration of new territories and the extraction of new oil from these areas. They specifically target the lower Gulf Coast and the Gulf of Mexico. Talos Energy stands out from other privately owned companies thanks to its dedication to providing the best working environment for its employees.
In addition to equal treatment and balanced salary, all employees of Talos energy receive a small piece of equity in the company. It is for these reasons that the company was recently awarded with the honor of being recognized as one of the best places of employment in the Houston area. Talos Energy is quickly advancing in the oil field thanks to its participation in the Zama-1 well and the recent acquisition of Energy Resource Technology GOM.
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