Since WorkBoat announced the first oil well to be drilled off the coast of Mexico in 80 years by the private sector on May 30, 2017, the operator, Talos Energy has completed the Zama 1 project. Partnered with Sierra Oil and Gas of Mexico and London based Premier Oil, Talos announced July 31, 2017 the completion of drilling operations and the initial oil in place volume from 1.4 to 2 billion barrels. In the article, “Mexico Oil Reform Advances With First Private Well In 80 Years,” published by WorkBoat, the estimation was 100-500 million barrels of crude. Zama was described as one of the most interesting exploration wells to be drilled in the sector.
Talos, a technically driven exploration and production company focused on exploration, development and acquiring oil and natural gas properties in the Gulf of Mexico and the Texas and Louisiana Gulf Coasts, was named the number one small business to work for by Workplace Dynamics in 2011. The same experienced leadership that built and sold two Gulf of Mexico oil and gas companies before 2012 with decades of experience in offshore exploration and production are at the helm. It has the same expert experienced leadership that started Phoenix and Gryphon Exploration Companies, companies that continue to deliver significant returns to their investors.
Talos and its partners Premier and Sierra are analyzing the data gather from Zama 1 and evaluating the best way to appraise and develop the historic discovery according to president and CEO Tim Duncan included in the press release issued July 31, 2017. Zama was completed ahead of schedule, safely and without incidents which Mr. Duncan sited as an excellent example of the benefits of having a smaller operator. “We can match the operational sophistication of our larger peers, but with a heightened sense of urgency,” touted Duncan. Talos Energy continue to rapidly grow and have a strong commitment to safe and environmentally compliant operations. With innovative techniques and cutting edge seismic technologies, Talos constantly strive to find new and better ways to operate, giving them a competitive edge.