There is a name that can be trusted to drill in the Gulf of Mexico. That company’s name is Talos Energy. They received permission from the government of Mexico to start drilling off the coast of that country. It was a very big deal because no private companies have received this honor since the oil and gas industry was nationalized there in 1938. This means that new and exciting things could be coming to the oil and gas industry very soon.
The well is called Zama-1 and it is a joint venture with two other private companies to explore the potential of the Sureste Basin. Estimates show that there may be anywhere from 100 to 500 million barrels of oil in that Basin. If companies get the chance to tap into that, they have every potential in the world to get a nice portion of that oil and make a pretty penny for themselves.
Financial experts who follow the oil and gas industry in particular are very excited about this exploration. They say that it is the one to watch when it comes to all of the projects going forward this year. It is fun to watch both because it has not happened in such a long time and also because of the massive potential that lies in that basin.
Talos Energy was among the companies that won the right to drill there in 2015 in part because of their expert knowledge of the reason. This Texas based company has worked in the Gulf for the entire time that it has been in existence. They have made it the core focus of everything that they do in business. You don’t get too many companies that have that level of knowledge. They were a clear cut favorite to win the bid.
Another good sign for those who are hopeful about future projects in this region is the very fact that Talos Energy is very committed to environmental protection. They put it up there as one of their core principles of business. Since they care about something like this, it is believed that they will do a good job on the project and hopefully earn the respect of authorities in the Mexican government. If they do, more projects like this may be forthcoming.
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