When Mexico opened up it’s fields for purchase you would think that the major players in oil would be the first companies to jump on the deal. They did not expect a smaller oil company of about 200 employees to be the first to purchase the only 2 fields put up for auction that year. That smaller company is called Talos Energy. Based out of Houston Texas, Talos Energy saw it befitting to grab the opportunity to purchase fields so close to home.
Talos Energy’s decision was rewarded greatly. After Talos Energy began discovery of fields they came across a great find. They struck oil about 37 miles from Puerto Dos Bocas, which is along the southern coast of the Gulf of Mexico. Although it is stated that it will take about 4 years of discovery to complete the find in its entirety, Talos Energy knows that this could be major. Talos Energy also knows at this time that the well that was found is in only 500 ft of water and they have reached about 11,000 feet deep so far. The larger the find the more time it will take to discover it in its fullness, this is why the time frame of around 4 years has been put into place. Talos Energy wants to be very cautious and efficient in the execution of this find.
Talos Energy in all of their wise decision making has so far found as much as 10 billion barrels of oil in shallow water. They were the first to find such amounts of oil since Mexico opened up the gas and oiled fields to outside exploration, 3 years ago. Talos Energy may be a seemingly small company now, with revenue at around $500 million, it is looking as if they are on the track to certain increase. It always makes for an amazing story when the little guys win big.
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