Talos Energy is a gas and oil company which is the leader in exploration, production, and development of oil and natural gas in the Gulf Coast and the Gulf of Mexico. Founded in 2012 by its CEO and President Timothy S. Duncan, Talos Energy has secured over 600-million equity. The company’s headquarters is located in Houston Texas, where they create innovative technologies and solutions for the oil industry. In 2017, Talos energy along with Sierra Oil & Gas, and premier oil discovered an oil field located in the waters off of the Gulf of Mexico. The place of the private sector of their oil discovery called Zama-1. During their exploration, the company drilled into the shallow waters of the Gulf uncovering a formation with between 1 and 2 billion barrels of light crude oil.
This discovery has initiated a response of crude oil companies and industry leaders and has proven to be a discovery that can ultimately optimize and secure the oil industry for as long as the oil formation can yield barrels of oil. Talos Energy was awarded the “Discovery of the Year 2017” during WoodMackenzizes or WoodMac annual exploration awards in June
Of 2018 for their extraordinary find off of the Gulf of Mexico. Talos Energy’s discovery of this Offshore Technology could influence more exploration of drills in the private sector of Mexico. The company owns 35% interest in the oil formation, while their partners Premier Oil, and Sierra Oil hold 25% and 40& interest in the discovered configuration.
The primary mission of the exploration was to prove the existence of hydrocarbons in the territory which would indicate there being oil present in the sectored area. Talos Energy Ensco 8503 floating drilling rig drilled into the depth of 11,100ft into the region and encountered an oil-bearing interval of 1,100ft containing between 558ft and 656 ft of oil containment. Developers were sent the discovered oil well to install lining to protect the discovered well reservoirs until the companies create plans for the collection and distribution of the new oil well in their Zama Discovery. An appraisal on the discovered land will take place in during 2018 when the first five year plans have been engineered, and work commences. The estimated production rate of the companies retrieval of the oil will be 100,000 barrels of oil per day (bopd). Development is currently underway as this exciting discovery begins to unfold and create beneficial impacts in the oil industry.
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