Michigan Swing Dance

Talos Energy Increases Its Presence In The Gulf Of Mexico

Talos Energy, a Texas-based oil and gas company, recently performed exploratory drilling in the southern end of the Gulf of Mexico. The drilling took place in the shallow waters in the Zama-1 field. The focus of the activities of the firm are to explore, develop, and produce oil and natural gas. It was founded in 2012, and Mr. Timothy S. Duncan is the Chief Executive Officer of the company.

In 2017, the company discovered a formation that they believe consists of approximately 1.5 billion to 2 billion barrels of light crude. Talos Energy now reports that it is considering a plan to partner with Pemex to develop the oil and gas field. Permed, an energy company, is state run by Mexico. If the plan comes to fruition, the joint venture would start additional drilling in the Zama 1 field some time next year. Pemex intends to begin drilling a well on its adjacent block prior to year end.

Talos Energy recently acquired Whistler Energy II, LLC. News of the acquisition, which took place August 31, 2018, was reported by the company on September 4th. Whistler reported a daily gross production of nearly 1,900 barrels of oil. In addition to Talos’ acquired cash assets and cash collateral, they also acquired a full working interest in the “Green Canyon 18 Field”located in the central area of the Gulf of Mexico. The area consists of three fields and a total of approximately 16,494 acres. Whistler acquired the field in 2012 from ExxonMobil. Since then, it has experienced a reported cumulative production amount of more than 117 million barrels of oil equivalent. The management of

Talos Energy and Whistler Energy II believe that the terms of the acquisition were a significant”win”for both sides.

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