For the first time in 80 years, the Mexican government has allowed private oil firms to launch offshore exploration and drilling, a move that allowed foreign competitors to venture into the energy industry. The joint venture that began drilling recently are Mexico’s Sierra Oil & Gas, Houston based Talos Energy LLC and Premier Oil Plc, which is based in London. The Zama-1 well is estimated to hold between 100 million to 500 million barrels of crude, according to a statement released by Premier. It is expected that the drilling will be concluded in three months time, and cost about $16 million. The three firms won the contract two years ago, after Mexico voted to allow private investors to venture into the oil industry in the country. According to Elaine Reynolds, a financial analyst based in London, said the drilling was very critical, and would be watched closely by industry players around the globe. He further added that the nature of the basin where the exploration was happening had high chances of succeeding. Talos Energy LLC, owns 35% of the venture and is the operator, while Sierra holds 40% and Premier 25%.
About Talos Energy LLC
A few years ago, Talos Energy LLC announced that its affiliate, Talos Production LLC had finalized an acquisition deal of $620 million for Energy Resource Technology GOM, Inc. (ERT). The assets of ERT averaged more than 16,000 barrels of crude oil per day. According to Talos Energy’s President and CEO, Tim Duncan, said they were delighted to have concluded such a deal, which would enable them reach an important milestone in their operations. Talos Energy is a private oil and gas firm headquartered in Houston. Its main areas of operations are exploration and acquisition of oil and gas fields, especially in the Gulf Coast and Gulf of Mexico. The company is backed by portfolio of funds affiliated with Riverside Holdings, LLC and Apollo Global Management, LLC and Talos Management. Talos has an elaborate, dynamic and entrepreneurial culture that is result-driven. The company is committed to corporate social responsibility, where every employee is offered $500 to support non-profit organizations of their choice.
Fortress Investment Group was first introduced to the markets in the year 2008. When the company started its first office in America, many people in the world wanted to see the performance of the company in the competitive market. The financial crisis had already swept most of the financial institutions in the country. Most of the companies in this department were looking for the support of the government so that they could get on their feet. Consumers had lost their trust in most of the financial institutions, and this meant that most of them lacked the support of customers. Many companies were declared bankrupt just because of the decisions they had made before the crisis started taking place. Fortress Investment Group came into the American market hoping that it was going to restore the reputation of the industry.
Wes Edens and several professionals in the American finance department are believed to have been the key founders of the large organization. These prominent figures in the country had been working in the corporate world for a while, and they had already researched and discovered the kind of assistance the consumers wanted. Wes Edens and his friends worked as a great team to make the dreams of the customers to become a reality. Their hard work, especially in the competitive American market started paying off when investors from other nations started coming to look for the services of the company. Fortress Investment Group decided to expand and cover the large international market due to the demands of the customers from all regions Wes and his team have remained to serve in the large firm in different platforms. The wealth they have been getting from their hard work has made them some of the most influential and wealthiest personalities in the entire market. These founders have never regretted the decision they took several years ago.
The employees working in a company have a great role to play. An international finance company has its share of challenges. The employees working in this type of company must understand the complex needs of the customers who come from many parts of the world. Without using this simple strategy, the company can only be preparing for losses at the end of the financial times. Fortress Investment Group has been fortunate to get great professionals who have been focusing on giving customers nothing but the best financial services. These professionals say that working in the company is not a complicated affair. Although the work is not easy, these employees are always given the remuneration they need. There are several benefits for the company employees to enjoy too.Fortress Investment Group does not hire anyone to work in its offices. The professionals who have been fortunate to acquire any working position in the international company must be knowledgeable. These individuals must be qualified academically so that they do not disappoint customers. These individuals must be technology experienced too. Most of the company operations use the modern technology, and this means that only experts will survive in the environment.