The first foreign owned oil well in 80 years announced in Mexico. For the first time since 1938 a private company plans a well in Mexican waters. Talos Energy LLC. from Houston has partnered with Premier Oil Plc. out of London and Sierra Oil & Gas out of Mexico to drill an offshore well in Mexican waters.
Since 1938 Mexico has owned and operated the oil fields there. Recently Mexico has now allowed a foreign competitor back into the market.
The name of the well is The Zama-1. The location of the well is off the state of Tabasco in the Sureste Basin. The well will house anywhere from 100 million to 500 million barrels of oil. The drilling will cost $16 million dollars and take up to 90 days to complete.
Elaine Reynolds is an analyst for the London-based company Edison Investment Research Ltd. She seems hopeful that the area seems primed for a high rate of success geologically. She is also watching the progress closely as it is an important milestone for Mexico.
Talos Energy LLC operates out of Houston Texas. The company specializes in technology that makes them a leader in their industry. Talos has grown with the times and over the past 70 years drilling techniques have improved substantially. Another improvement from technology is the ability to read seismic data and use geophysical technology to explore, exploit, and produce even more effectively.
Talos Energy LLC along with Premier Oil Plc and Sierra Oil are the first outside companies to drill in Mexico in many years. With their top of the line technology and up to date drilling techniques Talos Energy takes the Mexican oil fields ready to make history.
With their up to date technology and deep understanding of geological structures , Talos Energy ensures the best production value. Using the data they have collected Taos Energy also remains committed at all times to the health and safety of their workers as well as the safety of the environment.
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