For the first time in the last 80 years there will be a new private well drilled in the water of Mexico. This new oil joint will be a joint venture between a London-based Premier Oil Pic, the Houston-based Talos Energy LLC., and Mexico-based company Sierra Oil & Gas began being drilled on May 21st, 2017. This will be the first well that is being drilled off that coast by any company other than the monopoly-dominated Petroleos Mexicanos since the oil industry became industrialized in 1938. The rights were won by the three companies to drill this well in 2015. This project has been deemed to have a “very high geological chance of success” and given the implications that this is likely to have on the Mexican oil market will remain to be seen. However, this is the result of the Mexican oil market opting to open their private oil industry to other countries in 2015. These are the first three companies that will invest in that industry. This private well could take up to 90 days to complete and will cost about $16 million among the three companies to complete this project.
Talos Energy LLC. is an oil and gas company that is based out of Houston, Texas. Talos Energy was reaffirmed to have a total worth of about $475 million than May 22nd, 2017 and the company is continually growing. Talos Energy is a company that is independently funded and whose main goal is to focus on the offshore exploration and production in the oil industry. The expertise of the company is based out on acquiring assets in and around the Gulf Coast of Mexico and surrounding regions. The company puts a high emphasis on asset optimization, exploitation, and exploration.
Talos Energy is committed to serving their community through ensuring that they are helping to meet the world’s demand for energy in safe, responsible ways. Talos Energy strives to have a positive impact on the people who work for them as well as in the communities they become part of. Talos Energy seeks to refine data they collect to help improve their oil drilling processes over time. Talos Energy also believes that access to hydrocarbon reservoirs can be done more safely and resourcefully in ways that can protect both the environment and the people who live in the area as well as local communities.
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