With so many different things going on in the world, it’s really hard to keep up. From evolutionary advances in technology and science to new developments abroad, something new is happening all of the time. In some cases, a country may be backing up by implementing legislation that leverages the playing field for others abroad. In fact, this may be the case when you consider the leeway that has just be given to Talos Energy. Though a private entity, this energy company in Mexico has just been given the right to drill a new well in Mexico waters. While these rights were previously given to government agencies within the country only to accommodate their interest, these laws have now changed to bring foreign competitors back into this industry.
The results of these changes are being watched near and far since Talos Energy can make a load of money. Talos Energy is not going in alone, however, since it is a joint venture that includes Mexico Sierra Oil & Gas and Premier Oil Plc (presently a London based company). One of the top reasons why this venture is so notable is because this launch is currently breaking up a long stretch of state-run monopolies that were taken over by Petroleos Mexicanos. This time can be traced back to 1938, which is linked to the countries nationalized oil industry.
To get started with these oil wells, the rights were given to these 3 companies as a solid venture in the year 2015. Therefore, this is the timing in which these companies are following through. One of the main reasons why these companies are the first after a long stretch of state controlled wells is that they won the bidding.
This is also the ideal time for private companies to take these opportunities because this venture is a significant part of the nation’s reform. As an added point of interest for anyone who is following this venture from start to end, it is important to note that the 3 companies have a certain stake in interest that ranges from 25% to 40%. With the highest percentage going to Sierra (40%) and the lowest interest in this venture going to the Premier (25%).
Read More : www.crunchbase.com/organization/talos-energy