In the Sureste Basin, off the coast of the Mexican coast of Tabasco, lies a new oil rig. The well, recently sunk, represents a change for Mexico and for its energy industry. That is because for the first time since 1938, this oil rig is not run by a nationalized monopoly called Petroleos Mexicanos (Pemex). This time, it is run by private companies, three of them to be exact and more information click here.
The way this came to materialize is that the Mexican economy has been suffering for quite some time, especially with regards to energy. That’s why, after 80 years of preventing private investment off their coastal waters for oil and gas, Mexico is moving forward again. In 2015, they began a bidding process that was competitive and costly. However, three companies came out ahead: Talos Energy, Premier Oil, and Sierra Oil and Gas and learn more about Talos Energy.
Talos hails from Houston, Texas. Premier is based out of London, and Sierra is homegrown out of Mexico. The three will share the stakes, with Talos operating the well and receiving 35%, Premier at 25%, and Sierra getting 40%. And the prospects are looking good. Industry experts have analyzed the region and predict that the drilling will turn up anywhere from 100 million to 500 million barrels of oil, an impressive number by any means. The increased profits and revenues from this project could help Mexico’s economy in ways they couldn’t help themselves.
Talos Energy is taking the lead on the project. The company was started with hundreds of millions of dollars of previous investment, starting them out with a strong position in the market. They evenly recently acquired Helix Energy Solutions for a whopping $600 million. On top of that, the company has a staff of 120 people and pumps out 16,000 barrels of oil a day. This adds up to a revenue of $500 to $600 million this year alone and its Facebook.
The employees are happy about it too. Everyone, from the receptionist to the geoscientists, get to participate in the upside. All employees have a percentage of the private company’s equity, both inspiring and motivating them to achieve more in their work and Talos Energy’s lacrosse camp.
Other Reference: http://www.talosenergyllc.com/about-us/