The Reform of Oil Market in Mexico and Talos Energy

The reform of oil and gas industry in Mexico was witnessed after 80 years with the construction of a new offshore well along the Mexican waters. This was as a result of allowing foreign companies back into the Mexico’s energy markets. The well that is currently being drilled along the Mexican Coast is a joint venture between three firms, Talos Energy, Sierra Oil & Gas, and Premier Oil. They started the drilling process on May 21. Moreover, the well is estimated to hold over 350 barrels of crude oil.
According to Premier Oil Company, drilling of the offshore well is expected to take at least 90 days to finish. Also, the projected cost for drilling is estimated to be sixteen million dollars. However, the companies won the rights of being involved in the Mexican’s energy markets in 2015. This came after Mexico agreed to open the ailing industry to private companies. Since it is the first well to be drilled after Mexico open reforms to the oil industry, the drilling process will be under the watch by many oil and gas companies. Furthermore, the structure of the well’s basin is an indication that the well has high chances of geological realization.
About Talos Energy
Talos Energy is a privately owned gas and oil company that focuses on the exploration of properties that are related to gas and oil. Currently, the company is focusing on the exploration of oil and gas properties along the Gulf Coast of Mexico. Talos Energy also gets its funds from investments companies such as Riverstone Holdings, Global Management, and Talos Management.
When it comes to the acquisition of gas and oil properties, Talos is passionate about its pursuit. It is even smarter with its strategies. Moreover, Talos Company has more than 70 years of experience in the energy market. It understands what is expected in the market. The company has been combining innovative technologies with its technical expertise for a smoother progression.

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