In a move not seen in 80 years, Mexico has once again allowed a private company to place an offshore oil well in Mexican waters. This comes as a step in Mexico’s continuing effort to allow foreign companies back into their energy market. A collaborative effort between London-based Premier Oil Plc, Houston’s Talos Energy LLC and Mexico’s Sierra Oil & Gas the drill broke ground on May 21, 2017. Located off the shore of the Mexican state of Tabasco, this Zama-1 well will hold anywhere from 100 million to 500 million barrels of crude oil when completed. Coming in at cost of 16 million dollars, this well should take about 90 days to complete and the geological area it’s located in suggests that there is a high chance of success in filling the expected quantity.
One of these companies, Talos Energy LLC, has been expanding successfully the past few years, making it an ideal candidate for this project. The Houston, Texas based private upstream oil and gas company acquired Energy Resource Technology GOM, Inc. the oil and gas subsidiary of Helix Energy Solutions Group, Inc. for $620 million in 2013. This added an average of 16,155 barrels of oil equivalent per day in oil production to the existing company totals of about 16,0000 per day.
Expansions such as this have also allowed Talos Energy to expand their employment opportunities as well. Starting at a meager 15 employees, the company expanded up to over a hundred in recent years. This earned them the title of the best workplace among local small businesses by WorkplaceDynamics in 2013. Being a comparatively modestly sized oil company tends to attract the more entrepreneurial type of employees willing to bring new ideas to the table because when the company is making money, they are directly making money as well. Every employee makes an impact on the success of the company as a whole, meaning there’s never a dull moment.