Talos Energy Oil Ventures

Oil is arguably one of the most important natural resources on Earth. All the world economies depend on this valuable resource in order to grow and meet various needs, both industrial and domestic needs. At the beginning of 2018, unfortunate trends were noticed when the US oil flooded European market. Even though the competition was reduced and oil prices fell gradually in Europe, an economic crisis was experienced. The easy availability of this commodity made companies lay off their workers as prices were lower than normal. The companies could no longer support a majority of their staff as the profits from oil were barely meeting cost of production. Most oil companies were unable to survive as others went bankrupt and left the market.

OPEC countries have always regulated oil prices. However, in 2018, there has been an uneven trend in the prices of oil. They kept increasing and decreasing at a very fast rate. This was an eye-opener to the global societies, and especially oil producing countries, to intervene and put in place measures to curb such scenarios. However, there was little that could be done as a lot of factors work together to determine the prices of oil.

The decline and increase of oil prices have several consequences. Some experts believe that a decrease in oil prices is good as consumers will be able to purchase gas at a lower price, this helps people to have extra money to spend on other products in the market. But not everyone believes that the lower costs of oil are beneficial to the economy. There are those experts who argue that oil prices should be maintained at higher rates. This is because higher prices of oil help the dollar to flow back to the economy. This assists to plug budget deficits. It also facilitates an increase in global economy that allows extra traveling, and shopping.

Talos Energy is an oil producing company that extracts oil in Texas and its surrounding regions. It has decades of experience in both offshore exploration and production, which is mainly carried out in the Gulf of Mexico and near the Gulf Coast. Apart from oil production, Talos Energy is deeply rooted in helping the communities where it carries out its operations.

Visit More : www.facebook.com/talos.energy/

Talos energy and Tim Duncan

Talos Energy was established in 2012 by Tim Duncan who is its chief executive officer. The company was started with an initial amount of $600 million in equity, its funding sources being Apollo and Riverstone.

Talos accessed the Phoenix field together with other assets in 2013 after paying the cash amounting to $620 million. The company was forced to send away Field wood Energy and Energy XXI after one year of its launching. The business had gone down at the oil market resulting in bankruptcy, this leading to the sending away of its producers.

The largest oil province in the nation has been The gulf after the Permian Basin. The Gulf remains in a day can distribute over 1.6 million barrels. Oil royalties contribute about $3 billion to the government of U.S. The vast contribution has been due to the presence of valuable resources in the federal waters. The massive contribution of oil industry to the government has resulted in the opening up of more federal waters.

A well reaching 5 miles down costs $200 million to construct and, according to Bernstein Research, a well has a one-in-three probability of drying up. Records from Tim Duncan show that over the three years that have past, Talos and its partners have struck seven dusters. Reports from the research indicate that the deep water field can keep yielding its productivity of oil over a long period of time.

Talos and its partners like Field wood have an optimistic future time on the Gulf-based on the Mexican side. To meet its promising aspirations, Talos has collaborated with various companies to enable it to achieve its objectives. The organizations that it has partnered to work with include, Riverstone-backed Siera Oil and Gas, and also Premier Oil of united kingdom. The partnership will enable Talos energy to access new lands in Mexican water.

Tim Duncan says that grabbing this opportunity is 100%, Tim Duncan. According to him, the basin is mature and that’s why they had to reprocess the seismic before drilling Zama. Zama megafied is expected to yield oil in the next five years.

Visit More : www.indeed.com/cmp/Talos-Energy