On July 12, 2017, Talos Energy, LLC made an announcement regarding a historic oil discovery took place in offshore Mexico with the Zama-1 exploration well. This is the very first offshore exploration well that has drilled by the private sector in all of the history of Mexico. This is being touted as a significant and historical discovery and President and CEO Tim Duncan has nothing but praise for all of the highly skilled personnel from both Mexico and the United States that have been working to make this discovery a reality.
Duncan went on to explain that this discovery shows exactly what the energy reforms have wanted to deliver, which includes new participants, new capital and good, old fashioned ingenuity that can bring about not only government revenues for Mexico, but also local jobs. Duncan and Talos Energy are now eager to begin analyzing the discovery and working on drilling for more unique opportunities, stating that the future seems to be bright for offshore Mexico over the years to come.
Talos Energy is a private company for upstream oil and gas that has a focus on the exploration as well as the acquisition and exploitation of certain properties for oil and gas while focusing on the areas of the Gulf Coast and the Gulf Of Mexico. Talos Energy has been backed by investment funds that are affiliated with the companies known as Apollo Global Management, LLC, Talos Management and Riverstone Holdings, LLC.
As a technically-driven and highly motivated company for independent exploration and production, Talos Energy, LLC has been focused on both oil and natural gas properties for several years that are primarily located in the Gulf Of Mexico for the developed deepwater and shelf, as well as the Louisiana and Texas Gulf Coast. Their year-end net resulted in reserves of well over 100 million BOE as well as the production of roughly 30,000 BOW per day that is net to the interest of the company. Across the year 2015, Talos had the ability to leverage both operational and technical expertise throughout projects in the Gulf Of Mexico to expand the acreage position for two blocks of shallow exploration located off of the coast of Mexico.