Talos Energy Seeks to Increase its Energy Capacity

Talos Energy Inc. is in the process of drilling more wells as it projects to penetrate more reservoirs of energy. The approval of Zama-2 appraisal took place on Nov 29, 2018, which targets two wells and sidetracks energy reservoirs. Zama is located about 37 miles offshore of Dos Bocas, Mexico in block 7.

The program is said to have been approved by the Mexican government according to the regulations of National Hydrocarbons Commission. The first well, which will be drilled will be situated to the northern part of block seven located around the shallow waters of Sureste basin. The well will enable the company to assess the water and oil contact as well as data collection to understand the reservoir’s aquifer support.

The exploration process has been named as prospect Marte, and it will involve 500m drill to allow for testing and exploration of the site. On the southern part of the block, there will be the second well Zama-3, which is said to help the company to delineate the reservoir continuity in the southern part proving insights into the quality of energy in the area. The geology of the wells will be pre-determined by these test drills this will give the company the ideas into the possibility of future profitable prospects within the region.

The appraisal program was conducted by the Ensco 8503 rig company with the leadership of McDermott who is an engineer at the company. Talos Energy is worth $2.5billion, Duncan, the co-founder and private owner is speculated to be eying merging the company with Stone Energy as a way of boosting energy production.

The move could make the company a public entity without having the trouble of public offering. The offer is speculated to be complete by May. As a result, Talos is going to take over Stone’s listing. Therefore, almost all of the Talos assets will be located in the Gulf of Mexico. This diversification means that Talos will produce more barrels per day now, which is anticipated to increase its energy capacity. The company speculates that the move will enable it to fit with the leading energy companies within the US and Mexico as well.

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