Talos Energy, an Independent Oil and Gas Company

As a drive to allow foreign competitors back to the energy market in Mexico, Mexico has allowed private companies to sink offshore oil wells in its waters. This is quite historic considering the fact that no private company has ever been allowed to do so in 80 years.
Houston Talos Energy, London– based Premier Oil Plc and Sierra Oil & Gas of Mexico were the first private companies to have been allowed to explore the Mexican water. Since the nationalization of the oil industry in 1993 the only company that was allowed to drill oil in the Mexican waters was the state owned Petroleos Mexicanos.
The three companies successfully won the bid to explore the Mexican waters in 2015 and would begin drilling in areas around the Zama-1 well which is located at the Sureste Basin in the State of Tabasco and is estimated to hold between 100 million to 500 million barrels of crude oil. According to Premier, the venture is expected to last for at least three months at a cost to Premier of 16 million dollars.
Reynolds, an analyst at Edison Research Ltd based in London, in a note to clients, said the structure of the basin has high chances of geological success and that the oil industry players would keenly watch the project. In another rejoinder Charlie Sharp also an analyst at Canaccord Genuity Ltd suggests that given the complexity of the Mexican oil industry the exploration will be an interesting thing to watch in the sector.
According to Premier, the three companies’ stakes in the venture are Sierra 40%, Talos 30% and Premier hold 25%.
Talos Energy LLC is a private oil and gas company that primarily focuses on exploration and acquisition of oil and gas properties in the Gulf of Mexico and Gulf Coast. Talos is backed by investment Funds from three affiliated companies namely Apollo Global Management, LLC, Riverstone Holdings LLC, and Talos management.
Ash Shepherd, Talos commercial manager for Mexico, was recognized as an honoree of Thirty Under forty. Shepherd was the person who signed the first two production partnership contracts which saw Talos gain access into the Mexican waters since.

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