Posts in Category: Energy

Talos Energy Announces the Commencement of US $250 Million Zama Appraisal Program

Talos Energy LLC (TEL), founded in 2012 by Timothy Duncan is an oil and gas company with an equity raise from Riverstone holdings and Apollo Global Management valued at US$600-milliion. It is involved in the investigation, expansion, and fabrication of these main products in the Gulf Coast and the Gulf of Mexico. The company is centered in Houston, Texas.

Talos Energy operates block seven offshore Mexico, including Zama, with a participating interest of 35%. However, Premier oil and Sierra Oil and Gas are partners with a participating interest of 25% and 40% respectively in Block 7.

An appraisal program has been put in place and set to be accomplished by mid-year 2019.

Talos Energy’s appraisal program will be composed of three reservoirs, consisting of an Ensco 8503 rig and two wells.

Exploratory drilling of the Zama-1 field in the shallow waters of the Gulf of Mexico, announced by Talos Energy, Premier Oil and Sierra Oil and Gas early 2017 uncovered a formation that contained light crude oil that ranged from about 1.4 to 2 billion barrels.

To understand the reservoir’s aquifer support, TEL will spearhead the drilling of Zama-2 to the North of the Zama-1, confirming the oil-water contact thus gathering data.

The well under the Zama reservoir will be excavated about 500m to assess the Marte exploration prospect. Afterward, it will be followed by an up-dip vertical sidetrack drilled from the primary borehole which will undergo a drill stem test.

On the other hand, Zama-3, the second appraisal, will be drilled to the south of the initial discovery well to have a better understanding of reservoir geology, helping to define reservoir continuity and quality in that particular field.

While going over and above the National content requirements of the contracts, TEL and its partners plan on spending US$250 million excluding unplanned possibilities throughout the investigation and appraisal phase.

In a statement, Talos Energy’s Chief Executive Officer, Timothy Duncan, expressed his excitement for the project backed by not only partners with participating interests but also local Mexican suppliers. He also acknowledges the presence of numerous Mexicans involved in the Zama projects both on the rig and in the local communities that are supportive of the offshore operations.

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Talos Energy’s Rising Star

Founded in 2012 by Tim Duncan with a $600 million dollar sum from funding by Apollo and Riverstone, Talos Energy has been making a name for itself in the Gulf of Mexico and surrounding waters when they first started drilling in the Zama-1 well inside the Sureste basin. This drilling operation was with the cooperation of the Mexican government and two partner companies (Premier Oil, London, England and Sierra Oil & Gas, Mexico) as the first well drilled by a private oil company outside of the country of Mexico in decades.

After a successful drilling campaign, Talos has begun making several more oil discoveries in the Zama area and have been making appraisals for a Zama-2 well. Talos Energy has been resisting the urge to follow popular consensus and move their oil drilling to shallower waters in the Permian Basin area. Instead, Talos Energy has been focusing on some shorter, more profitable drilling assignments. Talos just acquired the equipment to perform deep water scans and drilling in the gulf and will be exploring the opportunity to perform some longer, deep well projects.

In addition to continued projects in the Gulf and surrounding areas, Talos continues to make wise acquisition choices. Recently, Talos Energy merged with Stone Energy Corporation, offering Talos something they have been wanting: a place at the public trading table. The NYSE moniker will be TALO. Talos gained a bigger level of funds with this merger. The combined companies have a $600 million dollar line of new credit (half of that immediately available) and the eventual liquidity of $450 million dollars ($150 million instantly available).

Talos Energy is slowly growing into a trusted oil company who proves that they put in the work to offer consistent results. To read more about the work that Talos Energy performs, or their new merger please click here.

Original source : https://www.ogj.com/articles/2017/11/gulf-of-mexico-producers-to-become-talos-energy-inc.html

Talos Energy Company.

In the exploration and production of hydrocarbons, Talos energy has been recognized to be among the top. Talos Company has adopted a strategy which involves using geological, geophysical and a team of experts to oversee the continued growth of the company. Talos energy has established a sizable seismic database and various reprocessing techniques to ensure that they acquire, exploit and explore the basin assets. In every operation they ensure that they remain in control of production since Talos company believes that by doing so they will;

• Enhance the production performance in all their planned projects.

• Increase hydrocarbon recovery using the improved drilling techniques.

• Fulfill their commitment to health, safety, and environmental compliance.

Talos Energy area of specialization is Gulf of Mexico and the Lower Gulf Coast of Louisiana region. Using the modern drilling system enables the company to remain on top in the oil and gas products industry. Talos Company strives to;

1. Focus on the geological trends related to the company’s assets. Research is conducted to find out the areas where exploitation and exploration will be a success.

2. Allocate capital for all its exploration and exploitation programs. The company ensures they venture into projects which will have the highest returns.

3. To ensure that they hire a team of experts to analyze and asses the company’s assets.

4. Acquire under-valued and under-exploited assets which will in return benefit company as it will earn more profit. Talos Energy focuses on exploring the resources which generally were thought to be unreachable.

To add to the already existing exploration facilities in Phoenix and Gryphon, Talos Energy has decided to expand their headquarters within Allen center. Talos plans to move from their previous One Allen center office to a 98, 000 square foot space located in three Allen center. The relocation aims at providing enough area for expansion and growth. Talos Company has decided to acquire Lafayette, Louisiana- based Stone Energy Corporation. in a merge. The combined company Talos Energy Inc. is estimated to have an initial market capitalization of approximately $1.9 billion in an enterprise value of roughly $ 2.5 billion.

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Talos Energy And Pemex

Talos Energy is a United States based energy company. Pemex is a Mexican state run oil company. They are planning to jointly run and construct an oil and gas discovery venture. In the southern area of the Gulf of Mexico Talos Energy discovered a large area of oil. Up to two billion barrels of oil are estimated to be deposited there. Some 800 million barrels could be extracted from this area. The Mexican oil company Pemex plans on drilling soon. The two companies want to work together on this venture and form a partnership. They hope to finalize the agreement by the end of 2019.

Mexico’s President-elect Andres Manuel Lopez Obrador wants to strengthen Pemex. The CEO of Talos Energy is Tim Duncan. They agree that by working together both companies can benefit. Talos Energy plans to drill two new wells in the area. The company will invest 325 million dollars to do this. Tim Duncan said that 100,000-150,000 barrels of oil could be produced daily by the year 2023. Key decisions about how to bring the oil to the market place still need to be made. They will be drilling in 500 feet of water so the oil platforms will have to be constructed accordingly. Tim Duncan has said that making these platforms will be a bit time consuming but by the time they are done they will have a better idea of how to get this oil to the market place.

The oil that both companies will be drilling for is called the Zama Discovery. This is the first kind of deal for Pemex. Usually Pemex has done things on it’s own but both companies claim rights to this reserve of oil and gas so the companies have decided to work together to develop it. Talos Energy will be sharing their information about the reserve with Pemex. The two companies will combine into a working group. By doing this whey will try to maximize their operations and try to streamline them to achieve maximization of efficiency. The deal will help both companies to increase their bottom line.

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Talos Energy And Stone Corporations Merge To Form A Stronger Oil Exploration Company

Talos Energy Company is one of the largest organizations working in the oil exploration and production industry. The company has been operating at the Gulf of Mexico and other coastline regions, where it has been looking forward to extracting oil for commercial purposes. Recent reports emerging from the mainstream media houses indicate that there is a potential merger between Talos Energy and Stone Corporations. The two companies want to join hands so that they can conduct joint exploration activities.

It has been reported that the board of directors of the two organizations has agreed that the companies should combine on a similar ratio, which means that no company will be required to part with money to compensate the other partner on the merger process. In fact, the two companies, Talos Energy and Stone Energy Corporation will continue to operate in the stock market as single entities.

However, few details need to be streamlined before the two energy organizations can start operating as a single entity. The board of directors at Stone Corporations need to convince its shareholders that it is the best interests of the organization to merge with another organization that is operating in energy industry. On the other hand, Talos Energy does not have to convince any person about the merger process because it is a private organization.

The leadership of the new merger is expected to change, with the Chief Executive Officer of Talos Energy expected to take control of the leadership of the new alliance. However, members of the Stone Corporation will also take influential positions in the operations of the new merger. The new board of directors will have some members from Talos Energy and some from Stone Corporations.

Although it is not clear why the two organizations are merging, it is apparent that they want to create a strong oil exploration and production company that can withstand competition from other organizations in the same industry. Talos Energy and Stone Corporations will undoubtedly form a dream team that can withstand competition from any other organization out there. Moreover, both oil exploration and production entities have sufficient funds to expand their activities.

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