Talos Energy Makes Historic Discovery

Talos Energy, a Houston based offshore production company, has made an incredible find approximately 37 miles off the shore of Puerto Dos Bocas, situated along the coast of the Gulf of Mexico. Talos has discovered an oil well at the bottom of nearly 550 feet of water, the well is named Zama-1, and has been drilled to a depth of an astounding 11,000 feet. The company and its partners plan to drill to a total depth of 14,000 feet. They estimate that the well may hold well over a billion of oil, maybe even two billion. It is the most important find since the country of Mexico opened it’s precious oil fields up to foreign exploration a few years ago. Talos Energy’s amazing oil discovery marks the first time a private company has drills an oil well near the Gulf of Mexico. The oil located inside the Zama-1 is light, according to Talos, they said it has gravities around thirty degrees along with some relative gas.

The Zama-1 well drills by Talos Energy is in one the largest fields found in shallow ocean waters over the past couple of decades. It is a very significant and even historic find, the company believes the discovery of the field shows exactly what the energy reforms were intended to offer. Oil and natural gas will be used as a power source for generations to come, the find is truly incredible for Mexico as well as other nations including the United States and United Kingdom, where Talos has partner companies helping will the drill of Zama-1.

The company says it will take approximately four years to finish the drill, possibly more. Stocks for the companies have skyrocketed since the field was found. Talos Energy holds a 30 percent in interest in Zama-1, their partner company in Mexico, Sierra Oil, hold the majority at 40 percent. The company, Premier Oil, which is located in the United Kingdom hold 25 percent interest of the massive oil well.

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