In May 21st, 2017, several top private drilling companies came together and joined their efforts and skills to drill oil well. Among the drilling firms are; Talos Energy LLC, Houston, Premier Oil Pic, and Sierra Oil & Gas, Mexico. It is for the first in more than 80 years that Mexico has allowed private companies into its waters to drill oil. The action is considered to be one of the latest for the nation to allow foreign groups into their drilling work. Mexico nationalized its oil wells in 1938 and the May 2017 drilling is the first offshore study well to be launched by other groups apart from Petroleos Mexicanos which is considered to be a monopoly in the country.
In 2015 the three drilling companies; Talos Energy, Premier Oil Pic, and Sierra Oil & Gas won the rights to drill the oil which is estimated to cost about $16 million. According to experts, the drilling will take about 90 days to complete. Among the wells to be drilled is the Zama-1 well which is located in the Sureste Basin which is off Tabasco State and it is estimated to hold about 100 to 500 million barrels of crude oil.
In 2012 Talos Energy was established. Talos Energy is a private organization which its primary mandate is to drill and produce oil as well as gas. The oil drilling firm is well managed by experts who have a vast experience in the oil and drilling sector. Talos Energy prides its self for being experts in the obtaining activated shelf as well as industrialized deep water resources in the Gulf of Mexico. The firms go further to exploit, discover, and optimize the assets using hedge cutting technology and advanced techniques.
Talos Energy has been existence for over a decade and it has been committed to building strong relationship with their clients as they deliver quality services. Before the foundation of Talos Energy; the firm carried out a successful transaction when they sold Phoenix Exploration Co and Gryphon Exploration Co. which are Gulf Mexico Oil and Gas companies. Ever since its inception; the firm has continued to build a strong track record, and it has expanded to become one of the world class oil and gas organizations in the world.