Talos Energy: The Search for Oil

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Talos Energy: The Search for Oil

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Dec,2017

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The Gulf of Mexico is believed to be rich in oil and other petroleum resources, however, players from foreign countries have limitations when exploring the country’s water bodies. However, it all changed in 2017 when the government of Mexico finally allowed foreign companies to explore their waters, after 80 years. A group of three foreign oil companies decided to team up and explore the Gulf of Mexico to search for oil. They are trying to search for the location deep within the waters of the gulf that is believed to contain hundreds of millions of oil barrels. Premier Oil PLC, Talos Energy LLC and Sierra Oil & Gas decided to commence the search for oil as soon as possible. They stated that the search will last for more than 90 days, and they are hoping that the search will be successful. The search will take place several kilometers off the coast of the city of Tabasco and the team will have a number of equipment on board that will help them with the exploration. Talos Energy LLC is an American Oil Company which specializes in oil exploration and research. They have been in the business for so many years, and they have a high success rate because of their experiences. Talos Energy LLC agreed that they will be given a 35% participation interest to hold up, and if there will be any oil found, the company will also be given a share for the revenue that will be made.

To help them with the oil exploration, Talos Energy LLC created a well called the Zama-1 Exploration Well. This well is crucial in locating the oil deep within the Gulf of Mexico, and in a matter of weeks, they managed to locate the oil. The team successfully found the oil on July 12, 2017, and contrary to earlier beliefs, the resource down under can create billions of oil barrels. This is another triumph for Talos Energy LLC, and this success will surely be added to their portfolio. The team behind the exploration will drill the well as soon as possible, and they thanked Talos Energy LLC for their expertise in the field of oil exploration.

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