Talos Energy is a leading oil & gas producer headquartered in Houston. It deals with the offshore exploration, exploitation, and production of oil products. The Gulf of Mexico and the Gulf Coast are the company’s central production sites. Most of the investment funds of Talos come from Riverstone Holdings, Apollo Global Management, Talos management and LLC (NYSE: APO). The company’s primary focus is on asset optimization.
On May 21 this year, Talos Energy began the drilling of Zama-1 well. It is the first private company to drill an oil well in the offshores of Gulf of Mexico. Previously, the Mexican waters were monopolized by Petroleos Mexicanos, a state-run corporation. The state had nationalized the energy market in 1938.
Talos dug the well in partnership with Mexico – based Sierra Oil & Gas and Premier Oil Company based in London. Mexico granted the three companies the rights to prospect in 2015. They acquired the rights in the first round of bidding after Mexico opened up the oil industry for private explorers.
Zama-1 well has become a highly productive exploration well, and it holds about 100 million to 500 million barrels of oil. As per 2013, the company produced over 16,000 barrels of oil daily in the Gulf of Mexico. The Gulf Coast employs more than 120 workers. Talos holds 35% of shares in the well. Talos is the operator of the exploration business on the basin. Premier owns 25% of the stakes and Sierra owns 40%. The drilling process was estimated at the cost of $16 million.
In 2013, Talos Production, a subsidiary of Talos Energy, acquired Energy Resource Technology GOM from Helix Energy Solutions Group. The acquisition of the oil & gas company was at the cost of $620 million. After the merging, the estimated revenue was about $ 500 million at the end of 2013.
According to Workplace Dynamics, Talos Energy is the most favorable workplace among local small enterprises. The private company was also honored for a similar award by the Houston Chronicle in November this year for its outstanding working conditions. The Houston branch alone is home to over 60 employees.
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