Talos Energy: A Leader in Oil and Gas Exploration

spcblog, 16 May 2018, No comments
Categories: Business Expert, Business Leader
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About Talos Energy

Talos Energy is a company located in Houston, Texas and it specialises in oil and gas exploration and production. The company was founded in 2012 by Timothy Duncan and is run by a team of professionals who have decades of experience in the oil and gas industry. The company’s bases its exploration in the Gulf of Mexico and has made significant strides in this field. In 2017, the company in collaboration with Sierra Oil & Gas and Premier Oil announced the drilling of a new well known as the Zama-1 field in the Gulf of Mexico. This will be a major project given the fact that the well is expected to produce 1.4 to two billion barrels of light crude oil.

Zama Oil Discovery

The oil industry in Mexico has been under the control of the Mexican government for a long time. However, the government decided to open its doors to private companies. As a result, Talos Energy and other private oil and gas companies began exploring the Gulf of Mexico. The key players in the drilling of Zama Oil are Talos Energy, Sierra Oil & Gas, and the Premier Oil. PEMEX which is one of the biggest players in the Mexican oil exploration has expressed its interest in appraising Zama structure by the license. PEMEX has also made a discovery of its own off the coast of Mexico in an area near the Sureste Basin.

On the other hand, Talos, Premiere Oil and Sierra Oil are currently gathering and analysing data from the well in a bid to find a suitable way to appraise the well.The oil company recently announced a merger with Stone Energy Corporation. This partnership will help in creating a premier offshore exploration. The company will change its name from Talos Oil to Talos Energy. It will also be trading on the New York Stock Exchange. This move comes at a time when the demand for oil and gas is at an all-time high. This partnership together with the discovery of Zama Oil is likely to create a new dynamic in the oil industry and help Talos cement its position as a key player.

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