There is a new future for the oil industry in Mexico that includes foreign competitors. Ever since 1938,
Petroleos Mexicanos, a government run oil company, had a monopoly over the Mexican oil industry. The oil industry in Mexico was nationalized. Recently, the Mexican government has allowed foreign competitors to take part in the Mexican oil industry, resulting in companies such as Talos Energy LLC, Premier Oil Plc and Sierra Oil & Gas winning bids in 2015. Drilling has recently begun on May 21st. 2017. The Zama-1-well is being drilled into. It is estimated to hold 100 million to 500 million barrels of crude oil. The drilling is expected to last for about 90 days and cost about $16 million.
Talos Energy, LLC, is a privately owned oil and gas company. It’s objective is to find, acquire and exploit properties that contain oil and gas. It mainly focuses on localities on the Gulf Coast and in the Gulf of Mexico. Within recent years, Talos Energy has enjoyed the success of being the first oil and gas operator to do business in Mexico since 1938. They were awarded this opportunity by the changing circumstances of the day. Mexico had opened up it’s oil business to private investors in 2015. Ash Shepherd, a manager at Talos Energy, signed two production sharing contracts that lead the way for Talos Energy’s business in Mexico.
Talos Energy is associated with other companies. Two companies that it is associated with include Apollo Global Management, LLC, and Riverstone Holdings LLC. Apollo Global Management LLC acts as an alternative investment manager. It has numerous locations all over the world; in North American, Asia and Europe. Riverstone Holdings, LLC, has locations in the United States and Europe. It acts as a private equity firm that puts a magnifying glass on the subjects of energy and power.
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