Global Companies Help Open New Oil Drill in Mexico

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For almost 80 years, the country of Mexico has wanted international competitors to become involved in its local energy markets and its wish came true this year when a private firm created a new offshore oil well in the waters of Mexico.

This construction of an offshore oil well was able to be done through the efforts of these companies: Premiere Oil, Talos Energy and Sierra Oil, the only local Mexican company among this group.

Premier Oil was the firm that announced that this happened. Premier was the first company to be able to do since the Mexican government nationalized oil in 1938 and created the oil monopoly called Petroleos.

This new oil well has been called Zama-1 and can now be found in the Sureste Basin off the coast of the Mexican state of Tabasco. In the future, Premier predicts hat the oil well should hold about 100 to 500 million barrels of oil. The drilling will take 95.0 days to finish and will cost about 16 million US dollars. The three global companies involved in this new oil well won the first round of bidding in 2015.

Elaine Reyn, an Edison Investment Research analyst in London, believes that Zama is the first Pemex well to be created due to the energy reform process of Mexico. She expects that the international oil industry is very curious to see what happens with this new effort. She is betting that geologically, this drilling has a very good chance of success.

When Zama is finished, Charlie Sharp of Canaccord Genuity sees this drilling as one of the most captivating explorations for 2017.

The stakes of the new well have been determined. Talos will have a stake of 35 percent in the well while Sierra will have 40%. Premier will get the remaining stake of 25%.

Talos Energy, one of the companies that is part of this new drill, was started with 600 million US dollars that it got from equity In one day, it can produce 16,000 barrels of oil in the Gulf of Mexico. 60 professionals operate this company in Houston Texas. If a person counts the field operators for this company along the Gulf Coast, a person should find that there are 120 employees.

Talos Energy proud to acknowledge that Workplace Dynamics the best w acorkplace among local businesses. They were able to get this acknowledgement without having to do Friday happy hours or have day care centers onsite.

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