“Talos Energy” a small oil company goes a long way
Recently, a private company has sunk a brand new offshore oil well in the waters of Mexico. This is the first time it’s happened in almost eighty years. This was the recent step in the drive of the country to let foreign competitors to return to its energy markets.
Three companies, Sierra Oil Gas in Mexico, Talos Energy LLC, and London-based Premier Oil started on May 21, to drill the well. This was the second exploration launched, the first was by “Petroles Mexicanos” the state-run monopoly in 1938. They would be journeying to the Zama-1 well, in the Sureste Basin, which is off the coast of Tabasco. These companies won the prospecting rights in 2015. The drilling has an approximated 90 days to finish, and will cost $16 million for Premier. The Zama-1 well can hold about 100 million to 500 million barrels of crude oil. In terms of percentage Talos owns a 35% stake in the venture, Premier holds 25%, and Sierra 40%.
This article will now explore Talos Energy LLC, one of the voyaging companies of this mission. It is important to note that Talos is the operator of the well. This company was started with $600 million in the bank. This money was from assets in the Gulf of Mexico which created over 16,000 oil barrels. It also gave them over 60 professionals from Houston. Currently, there is over 120, which came from Talos striking a deal with a company called “Apollo Management and Holdings”.
Talos was named by “WorkplaceDynamics” the best workplace of local small businesses. But, in composition terms, Talos could be placed in the middle. The equity they receive is put into the hands of their receptionists, geoscientists, and the other employs in its office in Houston. Talos believes the rewards go to the talent and risk goes to the management.