Talos Energy On The Move With Expansion Plans

Talos Energy is one of the fastest growing exploration and production companies in the energy sector. CEO Tim Duncan heads the company. Under his leadership, this company has made significant growth in a very short time. From a little-known company, Talos is today one of the companies which are acquiring other players in the industry. Since the acquisition of Stone Energy Corporation, Talos Energy has made other significant acquisitions. Recently, it declared its intention to acquire Whistler Energy II. This comes in the backdrop of a major development where the company announced that it had discovered massive oil deposits in its Zama-one field. This discovery has put the company on the perfect path towards its expected growth going into the future.

The acquisition of Zama-one project came after the government of Mexico introduced amendments to a law that had previously barred private companies from engaging in oil exploration and production activities in the Gulf of Mexico. This industry has for a long time been nationalized, and only public companies under the government of Mexico were allowed to engage in these operations. After the change to this law, Talos Energy is one of the companies that moved with speed to acquire some space in Gulf of Mexico. While other companies feared that they might make losses since the fate of the fields were not known, Talos under the management of Tim Duncan took the risk.

In 2017 the risk by Talos Energy finally paid off after the massive oil deposits that were discovered in this field. Talos Energy is focused on capitalizing on available emerging opportunities to boost its growth plan. Although it remains unknown how large production capacity of Zama-one field will be, it is expected that it will rival Discoveries, a field that produces about 100,000 barrels per day. Tim Duncan exudes confidence that the company will be making huge strides towards the accomplishment of its goals since it is already achieving more than their expectations.

In September 2018, Talos Energy announced that the National Hydrocarbons Commission of Mexico had approved Zama-one discovery appraisal program. This appraisal means that Talos now has the right to engage in further discoveries.

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