There has been a new offshore oil well sunk in mexican waters. This has been the first time that this has happened in 80 years. The well began being drilled on May 21 by Mexicos Sierra Oil & gas, Houstons Talos Energy LLC and Premier Oil Plc.
It is estimated that the Zama-1 well, located off the state of Tabasco in Sureste Basin, is estimated to hold between 100 million to 500 million barrels of crude. The drilling is estimated to cost Premier around $16 million and take around 90 days to complete. In 2015 is when the three companies officially won the rights to the prospect. Zama is said to be among one of the most interesting exploration wells that has been drilled in the sector this year. Phoenix Exploration has managed to double their companies size by 2011 and then turned around and sold the company to Apache Corp.
Duncan and his partners, along with previous backers, started Talos Energy with just $600 million in equity. The wells in the Gulf of Mexico us estimated to produce 16,000 barrels of oil a day. If you add in the field operators along the Gulf Coast, that makes their company’s head count 120 employees.
Talos has been named by Workplace Dynamics as the best workplace among local small businesses. Talos is in the market to continue growing with $475,000 million to $500 million in projected revenue this year alone. Ben Winkelman, after retiring, got the chance to drill one more time. He has stated that, you define value in tons of different ways. Michael Harding, the chief accounting officer and controller at Talos, has stated that a smaller company offers bigger job opportunities. At Talos there is never a dull moment in the company. They are hoping in time to be able to discover more and more oil wells.