Mexico opened its’ oil market to private foreign investors 2 years ago after 80 years of nationalization. The first well began being drilled back in late May 2017 and was completed in late July. This was well before the 90 day projected completion and was finished well under the projected budget. This is a project which includes 3 different companies, one out of Mexico, one out of London, and one out of Houston. The operator of the well and a 35% stakeholder, is Houston based Talos Energy LLC. The well has been suspended for future production while it is being appraised and analyzed for development.
An oil and gas company, Talos Energy specializes in exploration, development, and production of oil and gas products. Talos Energy operates its’ properties on the Gulf Coast as well as in the Gulf of Mexico. Its’ owned subsidiary, Talos Production LLC, recently acquired from Helix Energy Solutions Group, Inc., Energy Resources Technology GOM, Inc., which assets include over 16,000 barrels of oil a day. Investment funds affiliated with Apollo Global Management, LLC as well as Apollo Global Management, LLC backs Talos Energy. Through this backing Talos Energy has brought its employee count up from 15 to over a 120.
The new well in Mexico is historic since it is the first private well to be drilled in the history of Mexico. Talos Energy is a technological firm using seismic measuring devices to pin point the drilling sites during its exploration. Talos was nominated best small business local workplace by WorkPlace Dynamics and its CEO Tim Duncan was awarded EY Entrepreneur Of The Year 2016 Gulf Coast Area. Talos Energy is a private firm that was founded in 2012. In its 5 years of existence Talos has acquired funding from multiple investment firms totaling more than 600 million dollars.
Their Facebook Page: https://www.facebook.com/talos.energy/