Michigan Swing Dance

Talos Energy and Its Expansion Strategies

Talos Energy is a private company which deals with the production of oil and gas. Its oil and gas exploration and exploitation is mainly done offshore. Talos is based in Houston, Texas but with greater interests in Mexico, especially the Gulf Coast and Gulf of Mexico regions. The company’s state-of-the art 3D seismic data is about 33,000 square miles or more. The reprocessing of this data by the specialized team of Talos has empowered the company to evaluate opportunities relating to joint ventures and acquisitions and improve drilling inventory. For the last seven decades, the technical together with the management staff have been carrying out advanced drilling techniques using geophysical technology in the Louisiana, lower Gulf Coast and the Gulf of Mexico.

On May 21, 2017, Talos Energy launched its drilling in the Mexican waters. State owned Petroleos Mexicanos did the only offshore exploration in Mexico as a monopoly. Houston’s Talos Energy was the first foreign company to sink an offshore oil well in Mexico. This drilling was in a joint venture with Sierra Oil &Gas, Mexico and Premier Oil, London. Sierra possesses 40% stake in the venture, Talos, 35% and Premier holds 25% of the investment. These companies acquired the rights to explore in Mexico in 2015. They then erected a well identified as Zama-1 in Sureste Basin in Tabasco. The drilling will take place at the cost of $16 million and within 90 days. The well has about millions of crude barrels approximated at 100 million to 500 million. Talos Energy principally operates the well.

Earlier in 2016, Talos energy acquired a subsidiary of Helix Energy Solutions known as Energy Resource Technology GOM (ERT). The deal was at the cost of $620 million. The acquired company is headquartered at the Gulf of Mexico. Investment funds affiliated with Riverstone Holdings and Apollo Global Management form the company’s fund portfolio. For example, in February 2012, Riverstone supported Talos with $600 million in equity.

This year, Talos received recognition as the top local small business with the best workplace by Workplace Dynamics. Some of the company’s motivational programs for its workers include on-site day care and Friday happy hours.

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=183786013

Leave a Reply

Your email address will not be published. Required fields are marked *