It was recently announced that the company Talos Energy Inc would be placed in a top five position with their bid on a lease sale in the Gulf of Mexico. The sale was held by the Bureau of Ocean Energy Management in August of 2018. Talos Energy had placed their bid on eight shallow water blocks to go along with six deepwater blocks. This recent bid shows that Talos Energy, based out of Houston, TX, is unafraid to go big in an industry that has been experiencing a prolonged downturn. In fact, as the rest of the industry seems to stutter, Talos Energy is breaking new barriers.
Just this past year, Talos Energy became one of the first American energy companies to ever grab a foothold in Mexico’s oil industry. That barrier was broken with their work on the Zama-1 well which became the first foreign investment from the private sector in Mexico’s oil and gas industry. The discovery of the Zama-1 well could end up paying huge dividends as Bboe returns are slated to be anywhere from 1.4 to 2.0. With such success in Mexico as it is, it only makes sense that Talos Energy would continue their forward thrust while trying to gain some serious momentum carry over.
Talos Energy was brought together in 2012 after finding $600 million in investment equity from Riverstone Holdings LLC and Apollo Global Management LLC. Talos Energy was created with a very specific perspective in the energy industry: they would be considered an independent gas and oil company focused primarily on work in exploration offshore of the Gulf Coast and the Gulf of Mexico. Since originally opening their doors, Talos Energy has grown to employ well over 350 employees. Co-founder and company president Tim Duncan recently sat down in order to discuss the momentum that Talos Energy has procured and what they are doing in order to keep it going into the future.
Duncan pointed out that upon deciding to start the company, he and his two co-founders (John Parker and Steve Heitzman) would be focusing on access to public markets both inside of the United States as well as outside of it. Their goal was simple: to create a competitive, independent offshore E&P company.