Talos Energy, The New Oil Titan

Although Talos Energy hasn’t been around all that long, it’s quickly becoming one of the most popular Oil Companies to date. Talos Energy was created by Tim Duncan, a former reservoir manager at Gryphon Exploration, and his partners with $600 million dollars in equity from previous backers and from assets earned by being a smart businessman.

Talos Energy takes great pride in the way that they have decided to run their internal business with their employees as well. They have been voted the best workplace among local small businesses by offering happy hours on Fridays and on-site daycare to name a couple. It is their belief that treating their employees, all of them, with awesome perks is high on their priority and they want to keep them happy. Afterall, it can be quoted that it’s been said “the risk belongs to the management and the rewards to the talent.”

Talos Energy can take great pride in the fact that they are responsible for sinking a new offshore oil well in Mexican waters for the first time in 80 years! This was actually a joint venture between Talos, Premier Oil Plc, and Sierra Oil & Gas. The drilling of this well began on May 21.

This is also the first time an offshore exploration has been launched other than state run monopoly Petroleos Mexicanas since the country nationalized oil industry in 1938.

This Zama-1 well actually holds an astounding estimated 100 million to 500 million barrels of crude oil. Drilling is expected to take around 90 days at a whopping pricetag of $16 million. In 2015, the three companies won rights after Mexico decided to open it’s rights to private investment in Mexico because of the bad shape their industry was in.

Upon inspection of the base itself, it is thought to have a high geological chance of success. Although Talos is not alone in the huge venture, which seems to be an amazing success story in the making, Talos Energy is definitely making a name for themselves. I am anxious to see what this may mean for the oil industry and Talos.

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Categories: Business,Company
Nov
11

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