Mexico’s energy market was nationalized back in 1938 and many countries were denied access into this market. This condition has lasted for nearly 80 years. As of 2017, the Mexican government is now allowing some countries to produce energy within their nation. Many energy companies are trying to get in on the act. However, Talos Energy has managed to take advantage of this opportunity.
Talos Energy is a U.S. based energy company that is headquartered in Houston, Texas. This company was established in 2012. Talos specializes in the exploration, development and production of energy products such as oil and natural gas. They primarily along the Gulf Coast and the Gulf of Mexico.
The company has seismic technology which helps to find wells and places for potential projects. Talos Energy also partners with other companies and provides them with seismic technology applications. This way, they can maximize their drilling procurement strategies and expand their ability to obtain larger quantities of energy.
Currently, Talos is involved in a partnership with Sierra Oil & Gas and Premiere Oil Plc. Sierra Oil Plc is an energy company from London, England. Sierria Oil and Gas operates from Mexico. This partnership is the first time that any outside energy company has been allowed to operate within the country since Mexico stopped all foreign fuel procurement.
There is a well called Zama-1 that is situated in the state of Tabasco. This particular well supposedly contains between 100 million and 500 million barrels of oil. Talos and their energy partners estimate that it will take 90 days to complete. Talos Energy is looking forward to this opportunity to work within Mexico’s energy market.
Each of the three companies involved within the partnership had won the rights to procure energy back in 2015. They had successfully bided on the project and won. Each energy developer is now operating overtime trying to pull the crude fuel from the well. The Zama-1 drilling project has been given good ratings by energy procurement experts. Many people within the industry expect this well to be productive and financially viable. Talos Energy is expected to work this venture until the project is complete.