Talos Energy Helps Lift Mexican Economy

When it comes to the oil and gas industry, a country needs a robust economy to keep it running. That is exactly why Mexico, whose industry has had a notable decline as of late, decided to open their gates. Since 1938, almost 80 years ago, no one could drill in Mexico’s waters or their land. No one, that is, except for their nationalized oil and gas company called Pemex. But recently, that all changed. With the housing crisis and economic turmoil that happened just a few years ago, it caused Mexico’s leadership to look elsewhere. They opened a bidding war in 2015 for the rights to drill on Mexican land and waters.

The result is that three companies have taken the helm. Talos Energy, Premier Oil, and Mexico’s own Sierra Oil and Gas will lead the charge on the new well, which is placed off the Tabasco coast in the Sureste Basin. The three companies have a pretty equal share of the profits: 40% to Sierra, 25% for Premier, and 35% for Talos. The Houston-based Talos will be the primary operator.

Talos Energy, LLC is a Houston based company that operates in the Gulf of Mexico – the U.S. portion – and off the Mexican coast as well. The firm is one of the most rapid growing ones in the entire country, and has won numerous awards for its success as a small business. They started with 15 employees in 2012 and now have 120.The company has always been venture backed with equity companies.

They received over $600 million from their parent company Phoenix Holdings. With this, they were able to grow quickly and acquire Helix Energy Solutions for $620 million. The company focuses on exploring, exploiting, and developing oil and gas products in their territories, producing up to 16,000 barrels of oil per day. The firm offers impressive packages to employees, such as profit sharing. This even goes for their scientists, who usually only get paid salaries. The company also has weekly game days in the office and casual days to keep a team atmosphere up. They are on track for $500 million of revenue this year.

Read More : http://www.talosenergyllc.com/about-us/

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