What is the Zama Drilling Project?
The Zama Drilling project is going to be made of various groups, but the two most important ones are Talos Energy and also Pemex. Talos Energy is a company from the United States of America. Oil production is of a high level of interest for them just as it is for Pemex. Pemex is a state ran entity for the Mexican government. Their goal, as well, is to produce oil and similar fossil energies. Together, these groups of drillers will be investing over $325 million dollars in new infrastructure. The infrastructure will be used to drill in two pond locations along the southern Gulf of Mexico.
They were Next to Each other Anyway…
Pemex has been drilling there for some time now. Talos Energy would love to have their drilling numbers. What’s in it for Pemex? Well, the president of Mexico feels that they could have had a lot better production numbers for the past decade and a half. Once Talos gets started in their neighboring area, they’ll have plenty of everything to contribute to the state ran oil producer. It’s a situation that will assist all of those involved. The combined investment in new drilling infrastructure (shared by the group,) is nothing to bat an eyelash at either! That amount comes very close to half a billion dollars.
Where the Gas will wind up is Important…
Where all of this gas will wind up is the most important part of this story. It will wind up in the US and Mexico. It will wind up in the local markets, and this is good. These are two countries that have dealt with the issues of oil dependence for some time. By working together, they are freeing each other in a sort of way. Click here
Talos Energy, a company that specializes in producing energy, specifically through oil and gas has been at the forefront of acquisition of assets that would increase their energy production and subsequently their returns from the investments. The company started off in the Gulf of Mexico. The venture was highly profitable as Talos Energy’s then-prospective investors created two gas and oil companies that they later sold. Phoenix Exploration Co. and Gryphon Exploration Co. turned out to be very lucrative for the investors of Talos Energy. This ultimately led to more exploration and business transactions that have led to the creation of Talos Energy, a leader in energy production.
Since Talos Energy specializes in acquiring companies that have assets in exploring and exploiting shallow and deepwater energy, they have been using cutting-edge technology to improve the companies that operate under its wing to make the best out of it. For instance, Talos Energy partnered with Stone Energy Corp to create the larger Talos Energy Inc. This move has seen the assets of the company increase giving it more control on energy production.
With the assets that it acquired in the partnership, Talos Energy has been able to successfully bid for leases in deep water and shallow water blocks that cover about 75,000 acres. $5.3 million will be paid upon complete acquisition of the blocks by Talos Energy. The company will have even a larger control of the energy that comes from the Gulf of Mexico after this lease sale. The sale that was held by the Bureau of Ocean Energy Management (BOEM) gives BOEM the right to award or withhold a successful bid before they announce the award results to the bidders. They base their awards on the minimum bidding amount that they have set. Talos Energy and any other bidder of the blocks will be given the green light to start production in coming months.
Talos Energy has been experiencing gradual growth since its inception in 2012 and the investors intend for it to continue doing so. With their recent success rate, it is safe to say that the days ahead of the company’s energy production venture are very bright.