After 80 years Mexico has finally dug its hands into the water with their first privately drilled oil well, this has been a remarkable step towards allowing new competitors into Mexico’s energy market. Unusually, this was a team effort by several energy companies coming together to complete this exploration. These companies included Premium Oil PLC, Houston’s Talos energy LLC and Sierra Oil and Gas. In the middle of May this team began drilling in Mexican waters, Premier remarked during an interview that this venture was the first exploration to not be owned by a government controlled monopoly since Mexico had completely capitalized on their oil industry since 1938.
Talos Energy has been successfully running since 2012, with impressive returns coming from their drilling, Talos has proved to be a large competitor within this industry. This gas company is independently led by a management team with years of business experience. The privately held company is based in Houston, Texas, their main focus is the deep sea assets held within the gulf of Mexico and the gulf coast. Talos had always had fall back investment funds coming from Apollo Global Management, these investments have kept Talos in business during their crucial points.
Before the founding of what we now know as Talos Energy, the same management team created two previous drilling companies. The companies were named phoenix exploration and Gryphon exploration Co, both companies received impressive returns to their equity investors. Based on their record of profitability, this company could rise to be one of the greatest in its field.
In conclusion, President and CEO of Talos Energy remarks that he is excited to see the passing of a huge landmark when he was speaking in regards to the company’s recent ERT transaction. Talos energy is continuing to evolve into a powerhouse within the deep sea drilling industry. Although their rate of success climbs, they keep their operations safe and appropriate.