It has been confirmed that a private entity has sunk a new offshore oil well located in Mexican territory. This is the first time an incident like this occurred in over eighty years. Not to mention the first exploration embarked on by anyone other than Petroleos Mexicanos when the country municipalized its oil trade. Drilling for the Zama-1 well is expected to take 90 days to complete and will cost Premier $16 million. Newfound companies intercepting, Talos, Sierra, and Premier, acquired the rights in 2015, after succeeding in the primary round of bidding. Talos owns a thirty-five percent stake in this venture, Sierra attained forty percent, and Premier acquired twenty-five percent. It is speculated by experts that the structure of the foundation for this project yields geological success. It’s acclaimed as the most interesting drill of the year within the given sector. Talos Energy LLC is a served upstream oil and gas corporation concentrated on exploration and the attainment of oil and gas assets with a focus in the Gulf Coast and Gulf of Mexico. Tim Duncan founded Talos Energy after selling his company Phoenix Exploration to Apache in 2011, earning him $600 million in equity from sponsors. WorkplaceDynamics awarded Talos with the title of “Best Workplace Among Local Small Businesses”. Premier Oil is also a reputable company with similar intentions to Talos. Premier was founded in 1934, and known as the “Caribbean Oil Company”. They pursued oil in Trinidad, where a majority of their succession in the revenue took place. Premier oil is widely known for acquiring a 75% stake in Vietnamese Oil in 2004. This superior oil company also has 50% operating rights over a project catching oil and gas blocking from the North Sea after receiving approval from the UK Department of Energy And Climate Change in 2004. They are expected to begin streaming oil later this year.
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