Talos Energy Makes a New Oil Field Discovery in the Southern Coast of Gulf of Mexico

Talos Energy is a fairly new gas and oil company that is taking the industry by a storm. The company, which was founded in the year 2012, in Houston, Texas is among the very first private companies to be allowed to hold a mining well in Mexico. In July, 2017, the company announced that they had discovered a significant oil well, about 47 miles from Puerto Dos Borcas and the well is along the Gulf of Mexico’s southern coast.

 

When the company first made the oil discovery, it was among the three companies that had made an appearance when the drilling was launched. This had been a disappointing day for Mexican Official, as they had expected a high turnout. However, it turned out to work in the favor of all parties present.

 

After the discovery of the oil wells, the three companies were awarded two blocks. The Mexican firm, Sierra oil and gas got 40% of the block. Talos came second, acquiring 35% while Premier acquired 25% of the block.

 

Talos have named their well Zama-1 and is in 546 feet of water and the vertical depth goes to about 11,000 feet. It is estimated that at least 1.4 billion barrels will be drilled and up to 2 billion. The oil is also estimated to have gravities between 28 and 30, rendering it light weight.

 

The discovery is such a huge deal for Talos as its shares are bound to go up. Also, it adds on their resume, making them one of the companies to discover the 20 largest shallow-water rigs, in the last 2 decades. It is now considered to be a leading oil and gas exploration, production and drilling company.

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