In Mexico, it has been nearly 80 years since they allowed any kind of foreign company to invest and own oil projects on their land. The 1938 political rule made it so Pemex was the only company allowed to drill and extract the precious earthly liquid. However, things have changed. With the international shakeup of the economy of virtually every country on earth in 2008, even Mexico started to look outside of its borders to find a solution.
That solution, it turns out, materialized in a competitive bidding process in 2015 when many companies put their name in the hat to have the rights to a profitable oil well off the coast of Tabasco. The well, estimated to hold anywhere from 100 million to 500 million barrels of oil, is said to have a high chance of success by industry experts.
The three companies, Premier Oil (London), Sierra Oil and Gas (Mexico), and Talos Energy (Houston) will have almost equal shares in the project, with the bulk going to the Mexican company. While Mexico will receive most of the benefit, it is a far cry from the past where Pemex dominated the market. Talos will operate the well, taking over the bulk of the responsibility for day to day management.
Talos Energy is a Houston based oil and gas company with a fast growing and exciting history. It was started from the ashes of success with Phoenix holdings, their parent company, putting $600 million into it. They quickly grew from a small office of about 10 employees all the way up to 120 in record time thanks to quick thinking and a marketing plan by management.
Instead of the usual perks like casual Fridays in the office, Talos gives their employees something else to be excited about. They all have profit sharing. That means even the scientists working in wells and analyzing samples will get a percentage of the revenue of the company. The team works hard but is rewarded as a result. 16,000 barrels of oil are pumped daily by the firm, who operates mainly off the coast of Texas and Mexico.
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