Talos Energy finds promising reserves in the Gulf of Mexico

Talos Energy is an oil and gas exploration company that is overseen by a committed management team which specializes with offshore production as well as exploration. They are experts in the industry especially when it comes to operating shelf as well as underdeveloped deep-water assets mainly in the Gulf of Mexico. After developing the assets, they are responsible for exploring, exploiting as well as optimizing the resources by using state of the art technology and techniques. The company has a long track record in delivering positive results. This was realized even before the formation of the company in 2012 where they had already built as well as sold a number of oil and gas rigs to buyers while providing profitable returns to their equity investors.

Recently, the oil company led a consortium to partner with Pemex which is Mexico’s energy firm to take part in a joint venture that will see them unite in developing a lucrative oil as well as gas discovery that has yet to be fully operational. A year ago Talos Energy through its Zama project located in the southern Gulf part of Mexico where shallow waters are present struck an oil deposit could have the potential of having as much as two billion barrels and an estimated eight hundred million barrels in for of recoverable reserves. They also noted that the discovery also seems to extend into the state-run oil firm’s block which is adjacent to their block. The area is where the Mexican company is planning to drill and tap into its reserves before the end of the year. Talos Energy intends to collect data coming from their side and compare as well as make improvements before moving forward and making a finalized investment decision. Tim Duncan the CEO said other interested parties that are also in the business would be joining Talos Energy to provide support to Pemex in the discovery and also share in the exploration costs that will be incurred. This comes at a time when the state-run firm needs backing and support from investors to reverse a fourteen-year slump in production.

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