Talos Energy Begins Next Phase Of Zama-1 Production

Good news for Mexico it looks like the end of a fourteen-year drought may finally be on the way. Last year the discovery of 1.4 billion gallons of light crude by Texas-based oil and gas company Talos Energy made lots of headlines. The discovery was actually made by a consortium of natural resource companies with Talos Energy at the head. The other companies involved were UK-based company Premier Oil and Mexico’s own Sierra Oil and Gas. This has great implications for the home countries of each company. The oil was discovered on the Zama-1 field off Gulf of Mexico. According to projections there may be more than just 4.1 billion gallons to be had, and that is not including the reserve oil.

Talos Energy was founded in 2012 by Timothy Duncan. The company’s goal was to explore, develop, and produce natural gas and oil properties within the Gulf Coast and the Gulf of Mexico. The Zama-1 field has been their biggest find so far. The entire operations are set to begin producing oil by 2023. It is projected that by then the field will be yielding 100,000 to 150,000 gallons of crude a day. It will take some doing to get to this point however. Luckily, they have the Mexican government on their side. They have a big stake in success of Zama-1.

So far, the operation is in good shape. The Mexico’s oil regulator already signed off on Talos’s appraisal and drilling will begin at the end of November. The appraisal calls for the construction of two wells. The wells will cost over $350 million to make, and the construction will have to contend with 500 feet of water. The drilling is set to complete somewhere around the middle of 2019. Once the rig platforms are constructed around the wells the pumping can begin. It will not be an easy task but Talos and its consortium are dedicated to get it done.

So far, the company has no ideas on how it will construct infrastructure to bring the barrels to market, but according to Duncan it is waiting game. The platforms will take some time to build and he expects the market to fluctuate a bit before they are completed.

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The Birth and Rise of Talos Energy

Talos Energy is an exploration and production company, and it operates in the United States Gulf of Mexico. Their main focus is to explore, acquire, and the development of assets in deep and shallow waters near the infrastructure. Talos Energy Incorporated together with Stone Energy merged to form on single entity which is known as Talos Energy. In the year 2016 Stone Energy declared itself bankrupt and this was the beginning of this relationship. The relationship was beneficial to both companies because for one, Stone was already listed as a public company and it had over 100 barrels of oil. On the other hand Talos had enough money needed to settle Stones debts and could benefit from getting listed in New York Stock Exchange using the ticket Talos for free therefore as result pay nothing in order to get themselves listed.

It is known that Talos energy has been involved in similar situations of mergers before, for example in 2005 when hurricane Rita struck, several drilling infrastructure of Cabot oil Talos were able to turn again Cabot to a profit making organization.

Currently Talos Energy now comfortably makes almost 50000 barrels per day and also owns over one million acres of drilling space. The new Talos Energy has $150,000 in liquid form and almost $500,000 cash equivalent. The future looks well for Talos Energy in terms of profits.
Talos energy is an ever growing entity and offers career opportunities in exploration, production among other several disciplines. According to employees surveys Talos Energy is a good place to work and it was ranked the Top Workplace according to the Houston Chronicle Top Workplaces for the period from 2013-2017.

Talos was 100% successful on all the 14 blocks which it bid in the Gulf of Mexico. The blocks are estimated to cover around 75000 acres. Talos is expected to pay over $5 million for all the blocks leased combined. Two of the leases in Deepwater consist of seven years lease term and all the remaining others have a 5 years term of lease. The rates for royalties for the Deepwater leased blocks are at 18.75% and 12.50% for the shallow water leases. Talos Energy has identified eight prospects in these blocks and an addition of two or more is expected.

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The Changes That Talos Energy Has Brought To The Oil Industry

The prices of oil and gas have drastically gone down due to the flooded United States oil in the European continent. The high production marked by the various companies has been associated to the use of the modern technology in the course of their oil extraction, and as a result, many firms have found it easy to produce large amounts of both gas and oil. A considerable number of such firms in the country have felt the pinch of the falling prices of oil, and they hope that there will be changes in the changing time.

There is still hope for the companies as the prices of their products are rising every day. The country encouraged the production of crude oil and its exportation to Europe, and this has played a significant role in reducing the flooded oil in the country. The possible rise in the prices of fuel will play a major role in bringing growth to such firms. Various factors have also affected the oil prices which have been changing over the recent years, with the traditional geopolitical factors being among them.

Talos Energy is one of the fastest growing oil and gas production firms that have grown fast since its establishment. The firm entails a team of experts that are fully dedicated to developing deep water assets through exploration. The firm seeks to exploit and optimize such assets through the use of inventive techniques to acquire the best outcome. Talos Energy has been running for a couple of years, and it is today among the leading oil and gas producers in the united states. The firm has majorly focused on developing its assets from the Gulf of Mexico.

Addiuio0nally, the firm has also formed partnerships with other oil and gas production companies with the aim of acquiring more assets and building empires for the sake of its reputation. The contributions of the Talos Energy firm are notable through the rise in the economy and significant growth in the living standards of people in the country. Besides, the firm continues to create job opportunities for people that ought to upgrade their living standards as well as perfect their skills in the field.

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