A Joint Merger of The Houston’s Talos Energy LLC

In about 80 years now, for the first instance, an independent organization has dug an offshore oil well in the Mexican waters- a new step in the nation’s quest to allow foreign organizations back in the energy markets. A joint merger of the Houston’s Talos energy LLC, Mexico’s Sierra Oil and Gas and the London-based Premier oil started drilling the well during May 21. This ordeal is the first offshore exploration well to be fug by any entity besides the state-run monopoly Petroleos Mexicanos from when the nation nationalized the oil field in the year 1938.

Zama-1 well, located at Sureste Basin off the state of Tabasco, holds about 100 million to 500 million barrels of crude, as Premier stated in their statement. Drilling is estimated to last about 90 days up to its completion, at the expense of about $16 million. The multiple three companies got rights to the prospect during 2015, at the initial round of bidding later after Mexico opened its worsening oil industry to independent investment.

The closely held Talos is the well operator and has 35% stake in this venture. Sierra owns 40 percent, and Premier holds 25 percent. Talos Energy LLC is an independent upstream gas and oil organization which is determined by the exploration and the attainment of the gas and oil elements with an aim in the Gulf Coast and the Gulf of Mexico. Talos energy is covered by the investment funds connected with Apollo Global Management, LLC, Talos management and the Riverstone Holdings, LLC.

After the acquisition of the gas and oil producing subsidiary of Helix Energy Solutions at a tune of $620 million, Talos Energy is in the market to purchase again. The company’s projected revenue for the year 2017 is between $475 million and 500 million; the organization is poised to grow more.

The Talos Energy subsidiary, Talos Production LLC, has finished its acquirement of the Energy Resource Technology GOM, Inc (ERT), the gas and oil subsidiary of the Helix Energy Solutions Group, Inc for about $620 million. For any information about the Talos Energy LLC, you can easily get the Chief Executive Officer and the President through tduncan@talosenegryllc.com.