Talos Energy in A Possible Business Pact with Pemex
Talos Energy has been exploring oil in the Gulf of Mexico under the Zama Project which has made the company to have over 800 million barrel of oil from the oil reserves. However, the exploration has extended horizontally and is now adjacent to the Pemex Block which discoveries have confirmed could be a great mine to drill. Tim Duncan, the Talos Energy CEO is trying to make of a partnership before the company decides on their final investment decision.
Talos Energy is expected to share this information with Pemex and the Britain Premier Oil & Mexico Sierra Oil & Gas companies before the negotiation begins. In support of oil exploration, marketing and sell the incoming President Andres Manuel Lopes Obrador who pledges his support once he is sworn into office. This project will make the Talos Energy produce more oil to cover up for the surge in the last 14 year of production.
The project is headed for the better is the treaty is signed. Steps towards these are visible as the Oil Regulatory body in Mexico has already approved the appraisal plan and allowed Talos Energy to invest US$ 325 million into the wells. It is projected that in 2023, Talos Energy under this project will be producing 100,000 to 150,000 barrels of oil a day. Of course, the construction will take a bit of time and ultimately the project will be actualized.
About Talos Energy
Talos Energy LLC is a publicly listed oil and gas exploration company based in Houston Texas. It trades with the logo of NYSE: TALO in the New York Stock Exchange. Talos has main operations and production firms at the Gulf of Mexico and Gulf Coast although it is continuously seeking to expand and explore other wells.
The company was founded in 2012 by Timothy Duncan – Tim Duncan who is the President and CEO. Other executives in the company include; Michael Harding- CFO, Stephen Heitzman – COO and John A. Parker as the Vice President. Talos energy has joint deals with Sierra Oil & Gas and Premier Oil Company and is currently exploring the Zama-1 wells.