Mexico’s Sierra Oil & Gas; Premier Oil from London; and Houston-based Talos Energy LLC ventured together to create an oil well in the Gulf of Mexico. The project began on May 21, and is the first of its kind in more than 80 years. The operation is manned by Talos Energy, who holds a 35% stake. Sierra Oil holds a 40% stake, and 25% of the stake belongs to Premier.
An Oil Well Worth Talking About
Although the state-run company Petroleos Mexicanos has launched a few oil wells over the past 80 years, none have been as large as this project. It was in 1938 that the last oil well project occurred. Talos Energy decided to dig the oil well in hopes of introducing foreign energy competition and trade.
It didn’t take long for results after the work egan. Just one month into the project, Talos reported they’d discovered oil within the waters. Although it was expected that oil would be discovered, it occurred far earlier than anticipated. It is certainly good news all around the board. The oil discovery was made at 546-foot into the ground, approximately 37-miles from the Port of Dos Bocas. A ENSCO 8503 floating drill rig was used to make the discovery.
Who is Talos Energy?
Talos Energy is an independent oil and energy company that first began serving customers in 2012. The company opened their doors with the sole purpose of acquiring assets from the Gulf of Mexico. The company employees many agents who specialize in the Gulf of Mexico and the oil that is created within the perimeters. The Gulf of Mexico oil well project is one of many conducted by Talos Energy. It is safe to say this company is helping the world move in a great direction.