Ruminations of a Taco-Obsessed Philly Native

Talos Energy, based in Houston, Texas, was founded shortly over five years ago and has been funded by private equity companies. Since its beginning and even as it expands, its focus continues to be in offshore exploration and drilling in and around the Gulf of Mexico. The year 2017 is a milestone in this company’s short history. In mid May, Talos Energy embarked on a joint venture with Premier Oil of London and Sierra Oil of Mexico to begin offshore drilling and exploration in the Sureste Basin. The site for this is off the state of Tabasco, in the Zama-1 well, which is believed to hold up to 500 million barrels of crude. In 2015 Mexico accepted bids from foreign energy companies and granted rights to this partnership for $16 million paid by Premier.


This too was the beginning of Mexico deregulating its oil market and allowing foreign competition entrance for the first time in nearly eight decades. Accordingly, Talos Energy is the sole operator of the well but has a 35 percent investment, Sierra a 40 percent investment and Premier a 25 percent investment. Industry analysts are expected to watch the impact this deregulation of oil will have on the Mexican market.


The second major news for Talos Energy occurred when in November, it announced it had purchased, and thus, was merging with Stone Energy of Lafayette, LA, for $2 billion. The company had filed bankruptcy status in the recent past, in part due to the oil bust. Talos Energy had delayed its plans to go public on the New York Stock Exchange, but with the merger between itself and Stone Energy, going public could occur perhaps by summer 2018. The company will trade under the “Talos stock ticker.” As to dispensation of shares, it is anticipated that 63 percent will be owned by Talos Energy and 37 percent by Stone Energy. The company will retain offices in New Orleans, Houston and Lafayette.

More Details @ Facebook :