Talos Energy is a relatively new oil and gas company, founded in 2012. Based in Houston Texas, their primary focus is on exploration in hopes of finding new oil and gas reserves. Talos employs 200 people. Talos currently holds over 1.2 million acres of seismic inventory. They seek to maximize the output and efficiency of their assets using modern geophysical and seismic data.
Talos Energy unsurprisingly believes that oil and gas will continue to play major role as an energy source for generations. The large amount of acreage under Talos Energy operates at depths ranging from the shelf at 600 feet to ultra-deepwater drilling at under 3,000 feet.
Though Talos Energy is a new company, the company was created by a joint partnership between Apollo Global Management and Riverstone Holdings, as both companies had the common goal of expanding drilling operations in the Gulf of Mexico. Thus, though a new company the people who ran the former companies and oversee management of Talos Energy now have decades of experience operating in the Gulf of Mexico.
The company has seen notable success in their mission of exploring and finding new oil an gas reserves. In 2017, a Talos Energy oil rig operating 37 miles off the coast of Mexico discovered over two billion barrels. It was a major find but the find would not produce an immediate boon. Namely, because it would take 4 years to process the find. Talos Energy was taking advantage of a Mexican reform law that in 2014 allowed foreign companies to drill off its coast. Previously all oil off the Mexican coast was drilled by the Mexican state-owned PEMEX. In addition, the oil price has declined considerably over the last few years. Nevertheless, the company is optimistic it can take advantage of the major find in the coming years.
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