Talos Energy is working in the oil and gas industry. It was started by entrepreneur Tim Duncan and his business partners after they had to give up some of their finance at the peak of the financial crisis from a few years ago.
Tim Duncan and his partners started Talos Energy with equity from previous backers which amounts to 600 million dollars, as well as assets they owned in the Gulf of Mexico. Those assets produced well over 16 000 oil barrels a day in 2012. The company is based in the Texan city of Houston, and more than sixty professionals operate it. Along the Gulf Coast, there are sixty more people, and that brings it to 120. Talos Energy used to be smaller business when it made a deal with Riverstone Holdings and Apollo Management, both large firm working in private equities.
Talos Energy LLC recently became a part of a very large project that also carried a lot of significance for the Mexican industry of gas and oil. Mexico decided to have a monopoly over the industry, and the change was made about 80 years ago. Since then, Mexico has had only native businesses operate in the gas and oil industry and do well drilling. The Mexican government decided to allow non-native businesses to take part in the drilling of the oil well Zama- 1. The governemtn decided that in 2015.
Talos Energy LLC and two other businesses won the rights to take part in the project. It is a historic change for the industry in Mexico. Talos Energy LLC became the owner of 35 percent of the stakes for the oil well Zama – 1. The other two business had 25 percent and 40 percent. Talos Energy will be taking an active part in the oil well drilling project. It is expected that the oil well of Zama 1 will be a very lucrative one as it will most likely produce between a hundred million and five hundred million barrels of crude oil. Zama ! will take about 90 days to complete and it will be a shining feature on the resume of the businesses that are involved in this particular project.