In the world of oil and gas, it’s rare that a company would have the complete control over a country’s industry. However, that was the case in Mexico for over 80 years. Pemex was owned and controlled by the government, which meant that others couldn’t invest. Mexico wanted to protect the profits for the people to pay tax to the government. However, because of Pemex’s failure to invest in the right technologies, and the recent economic climate, Mexico opted to open their gates again to outside investment. It’s the first time this has happened since 1938.
The three companies that bid and won are Talos Energy, Premier Oil, and Sierra Oil. The three firms will share the roles in the project. Talos will take over as the operator because they have the most experience in this region. It is sunk in the Sureste Basin off the coast of the Mexican state of Tabasco. The well is predicted to run through 100 million up to 500 million barrels of oil, an impressive feat according to analysts.
Success is no stranger for Talos Energy, LLC. The Houston company had equity backed funding when it launched back in 2012. Phoenix Holdings is the parent company and they knew they would need a lot of cash to keep things moving. That’s why they bought out a competitor called Helix Energy solutions for $620 million. And since then, their revenue has skyrocketed to a whopping $500 million per year. They went from about 15 to some 120 employees in their offices.
Many of the workers comment on how their pay packages is better than most in the industry. As the number one small business in their industry according to certain awards, they have excelled in providing profits to the ordinary worker, which improves morale and boosts the bottom line. Additional perks, like casual Fridays and daycare facilities in the office building add layers to the joy of working there. Management has said they want to continue to offer innovative solutions to bring returns for their investors and look forward to getting more natural oil and gas in the pipeline.
Learn More : http://www.talosenergyllc.com/about-us/