Houston-Based Talos Energy Is Exploring for Oil in Mexico

April 14th, 2018 by admin
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Talos Energy is one of the oil and gas companies that will be drilling an oil well in Mexico, specifically in the oil rich Sureste Basin. The basin is located just off of the State of Tabasco. Before the creation of this joint venture, no other companies have been permitted to drill in this location since 1938, with the exception of one company run by the state.

This is the result of a recent decision made by Mexico to begin to allow any foreign companies to drill in its territory. Talos Energy is an American company based in Houston, Texas. The other two companies in the joint venture are Premier Oil Plc. and Sierra Oil and Gas. The former is a london-based company, and the latter is Mexican-held company.

The Sureste Basin is thought to be home to somewhere between 100 million and 500 million barrels of crude, Talos Energy has a 35% share of ownership in the venture. The company specializes in the exploration activities and in the production of oil and natural gas.

Talos Energy was started in 2012, and founded by Timothy S. Duncan. Mr. Duncan is the Chief Executive Officer and President of the firm. In a press release earlier this year, the company reported on another project currently underway. This location is in the Phoenix fields of Green Canyon. It is off of the Gulf of Mexico, and the project is named Tornado II. The company announced that the first production from the Tornado II deep water well is in about 2,700 feet of deep water. This exploration began in December of 2017. They further reported a current production of a total of 12,350 daily barrels of oil.

Since its inception in 2012, the company has experienced a great deal of expansion and success under the leadership of Timothy Duncan and the rest of its management team.

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