Posts in Category: Industry

Talos Energy: First Privately Owned Company to Capitalize on Mexican Oil Wells

Talos Energy is an oil and petroleum company that is located in Houston, Texas. The company is one of the few that are currently being allowed to set up oil rigs in Mexico. This has been a revolutionary step for the country, leading them in a favorable direction for economic growth. The country of Mexico is known to have plenty of resources which can boost the production of oil and natural gas. However, in the past, the use of these oil wells was only limited to government sanctioned companies, while private ones were not allowed to enter into the sector. However, after almost eighty years of the government putting this system into place, they decided to overturn it and allow private companies to set up their bases here.

When the Mexican government announced this, oil and petroleum companies from all over the world flocked in to get a piece of this untapped resource. To make the process more efficient, the Mexican government introduced a bidding system, whereby those companies who want to be the first to set up in the area could capitalize on it. Talos Energy was one of the companies that won this bid, thereby allowing them to be one of the first to set up their oil fields. Talos Energy wants to complete their digging processes within a short span of three months so they can start their operations as soon as possible. The total cost that Talos Energy has estimated would be roughly around sixteen million dollars for the entire drilling process. To know more click here.

However, Talos Energy is not doing the entire process on their own. They decided to form a partnership with some of the biggest international names in the oil industry so that they can perform with their maximum efficiency. The association that the company is going through with is with Premier Oil, which is a UK based company, and Sierra Oil and Gas, which is an oil company from Mexico itself. The three companies are all set to take on the Mexican oil business with full force and plan to be fully operational by the start of 2018.