Though it took almost 80 years, Mexico is once again letting private oil companies drill in Mexican waters.
As of May 2017 three of the largest oil companies in the world, Sierra Oil & Gas, Premier Oil Plc and Talos Energy LLC, launched the first offshore exploration well since 1938, which was when the country nationalized its oil industry.
Up until now the only company that was able to do any drilling in Mexican waters was Petroleos Mexicanos, a state run monopoly. Now, as part of an effort to reform the oil industry, foreign competitors have been allowed back into the Mexican energy markets.
According to a statement released by London based Premier Oil Plc, there is anywhere between 100 million to 500 million barrels of crude oil currently available in the Zama-1 well and learn more about Talos Energy.
The Zama-1 well is located in the Sureste Basin. And due to its geological structure, many industry experts believe this project will be a huge success.
Drilling in the Zama-1 well began in May and was expected to take a maximum of 90 days to complete and read full article.
About Talos Energy
Talos Energy is a Houston based, independent oil and gas company that specializes in offshore exploration and production. When it comes to acquiring operated shelf and developed deepwater assets, Talos Energy is in a class of its own and Talos Energy’s lacrosse camp.
The company is led by a group of individuals who have a proven track record of success. Together they built and sold two very successful oil and gas companies located in the Gulf of Mexico.
Because of this solid foundation, when Talos Energy was launched in 2012, it quickly grew into a world class company and a leader in the oil and gas industry and Talos Energy on Facebook.
Now, because of its use of modern seismic technology, Talos Energy is positioned to be one of the fastest growing companies the world has every seen.