Talos Energy Making Great Gains In The Gulf Of Mexico

Talos Energy, headquartered in Houston, Texas, began in 2012 after its leadership built and sold two Gulf of Mexico oil and gas companies. The Phoenix Exploration Company and Gryphon Exploration. It continues to operate in the United States Mexican Gulf and in the shallow waters off the coast of Mexico. Its technology, techniques, operating experience and leadership expertise allows them to build companies after some of the largest in the industry have made an effort, such as Chevron, Shell and Exxon. Focusing on exploration, development, acquisition, and exploitation near existing infrastructure in the US Gulf and high impact exploration in the shallow water off the Mexico’s coast, Talos stock continue to out perform others in the industry.

Since gas and oil continue to be the fundamental energy source, Talos Energy is actively increasing its holdings in the energy sector. In just the last month it announced progress and many gains. On September 28, 2018, the National Hydrocarbon Commission, (CNH), the Mexican gas and oil regulator, approved Talons Energy appraisal plan for its Zama discovery and are considering their application for drilling permits. Talos is also 35% of the participating interest, with Premier Oil, 25% and Sierra Oil and Gas, 40%, of the Block 7 Consortium, who has entered a contract with Ensco PLC to use the Ensco 8503 semi-submersible rig for the appraisal plan. Zama-1 has already been found to have a sub-sea formation that is one of the 20 largest shallow water field discoveries in the past 20 years. Discoveries the size of Zama-1 produce on the average of 1000,000 barrels a day. The discovery won Talos the Wood Mackenzie’s “Discovery of the Year for 2017.”

On August 31, 2018, Talos announced its completion of acquiring Whistler Energy II, who was dealing with bankruptcy. The acquisition brought with it working interest in Canyon Block 18, sold by Exxon Mobil in 2012, and current production of 30,000 barrels of oil and 30 million cubic feet of gas per day,with the potential for expansion. Tim Duncan, president and CEO of Talos, who was named the Entrepreneur of the Year in 2016 in the Gulf Coast area for the Energy and Energy Services sector, said that it was exactly what Talos look for when buying producing assets. Talos also merged with Stone Energy Corporation. becoming a publicly traded entity without the cost of an initial public offering, known as a reverse IPO, a great achievement for Tim Duncan.

On the Off shore Mexico side, Talos announced joining forces with Hokchi Energy SA de CV, a subsidiary of Pan American Energy of Argentina, to accelerate exploration efforts. The companies are in essence swapping 25% of their holdings in Blocks 2 and 31. The two blocks will be operated by Hokchi with Talos owning 25% of each block. Talos’ strategy of growth is paying off.

To Visit More Click Here

Leave a Reply

Your email address will not be published. Required fields are marked *