Ever since 1938, the only company that has done offshore drilling in Mexico was Petroleos Mexicanos—a state owned company that has been monopolizing the entire Mexican oil industry. However, in 2017, foreign companies have begun to drill in Mexico. On May 21st, 2017, three companies—Talos Energy, Premier Oil and Sierra Oil and Gas started to drill into the Zama-1-well. This is a momentous event in the history of the Mexican oil industry, as well as the oil industry, itself.
Originally, Mexico had nationalized it’s oil industry, which is why Petroleos Mexicanos was the only company operating in Mexico. However, there was as a downturn in the Mexican oil industry, which led to Mexico’s decision to allow foreign oil companies into the Mexican oil industry. In 2015, Premier Oil, Talos Energy and Sierra Oil and Gas won bids to drill.
Experts have reported that there is a good chance that drilling will be successful, due to the shape of the basin that Zama-1-well lies in. The well is in the Sureste Basin, which is located somewhere off the coast of Tabasco, Mexico.
Talos Energy operates the well, and is proud owner of 35% of the venture. Premier Oil owns 25%, while Sierra Oil And Gas owns 45%.
Talos Energy is a small, private company. The employees of Talos Energy love to work for the company, saying that everyone’s ears are open to each other’s concerns. Talos Energy provides a very calm, rational, open minded environment for employees to express suggestions and to talk about recent news. Employees day that the company has a “start up feel.” They believe that such a feeling encourages them to be as creative as possible.
Talos Energy produces and explores offshore hydrocarbon. They specifically focus on areas such as the Gulf of Mexico and the area that is off the shore of Mexico. The company was established in 2012, and has been headquartered in Houston during its existence.