In Mexico, the oil and gas industry has been nationalized for quite some time. They started this trend way back in 1938, almost 80 years ago. Since then no outside investor could touch the oil in the ground or off their waters. Pemex, a national company with a monopoly, was the only company allowed to do it. Mexico always planned to keep it that way, but unexpected events in the economy of late have made them reconsider. They have now opened up their industry to outside investment for the first time in a long time.
The move has prompted interest from a number of investors. They are willing to look hard into the numbers to predict that only 100 to 500 million barrels of oil between three companies is a lot to bargain with. And the companies won the 2015 round of bidding. The three firms are Premier Oil, Sierra, and Talos. Except for Sierra, the other two companies are foreign. If Tabasco and its coast offer up success to the drillers, it could spell a new age for Mexico.
Talos Energy is an oil and gas company out of Houston, Texas. They were founded in 2012 when two investors realized they could put their heads together. They offered innovative solutions for other clients, so they wanted to add something to portfolio in the energy business. Using millions of dollars of equity funding, and their holding company partner Phoenix Holdings, they had Talos up and running. But the company hasn’t always been this successful.
The company only had about 12 employees when it first started out, a number that would shock most people finding out that it had 100 employees today. Much of the rapid growth of the last few years has led to them having $500 million in yearly revenue. One of the most impressive parts of the company is that they share the proceeds from profits to each worker, no matter their position. This allows the company, which competes by investing in exploration and drilling for oil offshore, to remain at the top. They currently do about 16,000 barrels of oil a day in their regions of operation.