Talo Energy is one of the leading corporations in the international oil and gas exploration sector. In 2013, the firm made a significant accomplishment by purchasing Energy Resource Technology GOM, Inc. The acquisition happened a short while after the ERT has completed conducting its Phoenix exploration that led the discovering of over 100 feet of oil in the region.
The main of operations of the oil mining company are in the Gulf Coast and the Gulf of Mexico. Talo Energy recently joined efforts with two other firms to start drilling the first offshore well that has ever been dug by a non-governmental body in the region. The Mexican government recently liberalized the countries oil and gas industry, and this has made it possible for Talo Energy to explore and extract oil from the Suretse basin
The well that the company is currently mining from is called Zama-1 is estimated to have between 100 and 500 million barrels of oil. This makes it an economically viable venture. Talo Energy currently has a 35 percent stake in the Zama wells business. Other shareholders of the enterprise are Premier Oil Plc from London and Sierra Oil. The two corporations own 25 percent and 40 percent of the venture respectively. Various analysts have offered their opinions on the economic ability of the Suretse Basin, which is the home of the Zama well. Elaine Reynolds, who serves as an analyst at Edison Investments Research Ltd, believes that the exploration of oil in the region will have a positive impact. The London-based analyst’s data shows that the project has very high chances of being successful.
The reforms that are currently being made in the Mexican oil and gas industry are likely to attract several new companies to the region. The area is predicted to be very competitive in future. The liberalization of the market will allow many foreign corporations to establish themselves on the Gulf of Mexico and the Gulf Coast. According to Charlie Sharp, who is an employee of Canaccord Genuity Ltd, the drilling of the Zama well will positively impact the oil market in Mexico.
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