An international coalition of oil drilling companies has come together to embark on an offshore venture in the Gulf of Mexico waters estimated to yield upwards of 500 million barrels of crude oil. Premier Oil PLC (United Kingdom), Talos Energy LLC (USA), and Sierra Oil & Gas (Mexico) are forging a new alliance with Mexico with the Zama-1 offshore exploration well located in the Sureste Basin off the state of Tabasco. It is the first offshore exploration team consisting of private foreign competitor investors since 1938.
According to a statement issued by Premier Oil PLC, “Mexico opened their industry to private investment in 2015. Subsequently, the trio won a “first round bid for prospecting rights, with the largest share of interest in the project at 40% held by Sierra Oil & Gas, 35% by Talos Energy LLC, and the remaining 25% by Premier Oil PLC.” Talos Energy LLC is also spearheading well operations.
Talos Energy LLC (Talos) is an independent oil and gas company with decades of experience in offshore exploration and production. Their team of experts are well-versed with the idiosyncrasies of operated shelf and developed deepwater asset acquisitions in the Gulf of Mexico. The utilization of proven “innovative techniques and the latest seismic technologies” to optimize the potentiality of those assets. From the inception of Talos in 2012 has lived up to its reputation as “a world-class company with a strong commitment to safe, environmentally compliant operator.” This has been key to their expansive growth and success.
Talos Energy LLC formed a trifold partnership with Apollo Global Management and Riverstone Holdings for asset acquisitions in the Gulf Coast and Gulf of Mexico regions. The business development activities of Talos Energy LLC include joint ventures and farm-in agreements to utilize their seismic inventory to optimize the economics of a transaction. Talos reputation of enhancing mature fields and developing valuable investment opportunities is evidenced by their Phoenix and Gryphon Explorations, two private equity backed companies. Each produced significant investment gains for their investors due to the expertise, innovations, and partnerships of Talos Energy LLC.
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