In that fateful year of 1938, the country south of the border, Mexico, nationalized their oil industry. Since then, it was not possible for private investors to get involved with the Mexican oil industry. The 21th century saw a huge range of economic problems all over the world, including issues with the oil industry in Mexico. To save the industry, Mexico made a groundbreaking decision in 2015 to make its oil industry open to private companies. The companies that won rights to prospect numbered three, and included Talos Energy, Premier Oil and a third company called Sierra Oil and Gas.
In 2017, the three companies decided to drill in a well. The well was expected to be a source of great prosperity and luck. A worker at Edison Investment Research proclaimed that the drilling of the Zama-1 well was going to be a complete success, in large part because of the landscape of where it is. The well is located off the coast of the state of Tabasco, in the Sureste Basin and learn more about Talos Energy.
The rig that drilled into the well was called ENSCO 8503. The first objective for Talos Energy was to drill into the well so that they could gather information about it. From scientific findings, they found out that the age of the well is the Upper Miocene. Light oil is contained in Zama-1, and the API gravities go from 28 to 30. The rock properties of the well are excellent and more information click here.
After making discoveries about the well, Talos plans to run and cement casing along the reservoirs. Then, they will form plans of what to next. They expect to have an active drilling operation by 2018. Nobody can really say what the production rates will be, or when the first production date will be. In order to know, there needs to be a lot more appraisal, design and engineering work and Talos Energy’s lacrosse camp.