For a long period of time, Mexico has barred private companies from operating oil wells. However, there has been an agitation for changes which culminated in the enactment of some rules. Actually, private companies can now participate in the drilling of offshore oil wells. On May 21, 2017 talos energy was allowed to drill oil in Mexican waters. In the previous years, it is only the state corporation which could participate in drilling offshore oil wells.
Actually, petroleos mexicanos had all the rights to participate in drilling of oil wells in mexican waters. There are three companies which are jointly participating in the drilling of oil. For instance, premier oil plc is one of the companies that are participating in drilling of the oil. Talos energy LLC is also one of the major companies that have undertaken to participate in drilling the oil. Click here to know more.
According the studies, the oil wells are projected to have more than 100 million barrels of crude oil. The projected cost of drilling the oil wells is estimated at 16 million dollars. The ownership of the oil wells has been well distributed among the various companies. For instance, Talos owns thirty five per cent stakes in the oil wells. It is also important to note that sierra owns forty per cent stake in the oil wells. The remaining twenty five per cent stakes in the oil well is owned by premier company.
Talos energy is one of the most promising companies in the field of oil exploration. It is important to note that the company was established in the year 2012 with a capital of about 600 million dollars. The money was drawn from various sources including previous backers and also the varied assets which the company owned in the Gulf of Mexico.
After its formation, the company managed to produce more than 16,000 barrels of oil in a day. This makes the company one of the leading in terms of oil production. It is also important to note that the company has more than sixty professionals who are based in Houston. Due to its sound management, the growth of the company is guaranteed in the foreseeable future.