Addison Duling

Talos Energy has Been Granted the Right to Drill in Mexican Waters

Talos Energy, along with two other major oil companies, London-based Premier Oil Plc and Mexico’s Sierra Oil & Gas, won a bid that has allowed them to sink a new offhsore oil well in Mexican waters.

Please note that at the time of this writing the drilling has already started and been completed. However, the reason its worth mentioning is because this is the first time a foreign competitor has been allowed to do offshore exploration in these waters in almost 80 years.

Back in 1938 Mexico as a country decided to nationalized its oil industry. And up until May 21, 2017, only one company, state-run monopoly Petroleos Mexicanos, was allowed to do offshore exploration in the Mexican waters.

Now, as part of Mexico’s oil reform, private companies are again being allowed to drill oil in those waters.

According to Premier, there is well over 400 million barrels of crude these companies now have access to from the Zama-1 well.

Elaine Reynolds, an analyst based in London, believes this is something the industry is going to pay close attention to. After all, this is the first in almost 80 years that a non-Pemex well is being drilled in Mexican waters.

About Talos Energy

In only 5 short years Talos Energy has grown into one of the top offshore exploration and production companies in the country. This rapid growth is a direct result of their ability to use modern seismic technology on their high quality oil and gas assets.

Not only are they a smart company, but they are also a very innovative company that is positioned for growth for many years to come.

Talos has made the commitment to operate in a safe and environmentally compliant way. They are constantly seeking a better way to operate so that they are always two steps ahead of the competition.

To learn more about Talos Energy visit them online at www.TalosEnergyLLC.com