Talos Energy will terminate the poison pill following an agreement with Carlos Slim’s firm
Talos Energy announced on Tuesday that it will terminate its "poison pill" after reaching an agreement with the investment firm of Mexican billionaire Carlos Slim, which stipulates that it won't exceed a 25% threshold in the oil company. The company adopted…
As a major hurricane approaches, oil companies are evacuating their staff from the Gulf of Mexico.
On Monday, U.S. producers of oil scrambled to evacuate their staff from offshore oil fields in the Gulf of Mexico as the second major storm to hit in two weeks is predicted to ravage them. The U.S. National Hurricane Center stated that a potential Tropical…
U.S. Offshore Oil Lease Sale Weakest Since 2016
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices.Firing up offshore drilling is a crucial part of U.S.
Talos Comes Up Big Offshore Mexico
An appraisal well in the Zama project offshore Mexico showed more potential for oil, raising hopes of a large discovery, operator Talos Energy said on Thursday.The Zama project in Block 7 offshore Mexico is operated by Talos, whose partners include Sierra Oil…
Talos Energy Begins Zama Discovery Appraisal Program
Talos Energy has spudded its Zama-2 appraisal well, beginning the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack.The Zama discovery, which is located in Block 7 in the Sureste Basin…
Pemex Reaches Deal to See if Talos Find Reaches Its Block
Mexican state oil firm Pemex has reached a preliminary agreement with a consortium led by Talos Energy to evaluate whether the group's find in the Gulf of Mexico extends into a neighboring Pemex block, the companies said in a statement on Thursday.The deal…
Signs of Recovery in the US Gulf of Mexico
Today's U.S. auction of Gulf of Mexico exploration leases drew tepid response from oil companies, but marked notable progress for an industry still in a state of recovery.“While not a barn burner, Lease Sale 251 tops the previous Gulf sale in terms of increased participation…
Oil Companies Make Few Bids in US Offshore Lease Auction
Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second time this year.Oil giant Exxon Mobil Corp was awarded 25 blocks…
Fieldwood Hungry for US Offshore Output
The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S.
Mexico's Energy Sector Faces Deepwater Auction Test
An auction of deepwater oil and gas fields in Mexico this month may prove the last major opportunity for President Enrique Pena Nieto's government to capitalize on its opening of the energy sector, the central plank of its economic agenda. The Jan. 31 tender…
Talos, Stone Energy Plan $2.5 Bln Merger
Talos Energy LLC and Stone Energy Corp, two U.S. exploration and production companies focused on the Gulf of Mexico, announced on Tuesday plans to merge and create a new company valued around $2.5 billion including debt, sending Stone's shares down nearly 13 percent.
Pemex Makes Mexico's Biggest Onshore Oil Find in 15 Years
Mexico's national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Pena Nieto said Pemex made the discovery by drilling its onshore Ixachi well…
Premier Oil Discovers Oil off Mexico Coast
Premier Oil Plc said it had discovered oil off the coast of Mexico at its Zama-1 exploration well in Block 7. Premier, which holds a 25 percent interest in the block, said estimates for the Zama-1 well were in excess of 1 billion barrels, which could extend into a neighbouring block.
Future of Mexican Offshore on Thin Ice
After almost eight decades of Pemex monopoly, the Mexican energy sector is entering a new era of foreign oil company participation, says energy market research and consulting group Douglas-Westwood. A decade of steady decline in domestic oil and gas production…
Talos Energy to Operate Contracts in Mexico
U.S. company Talos Energy LLC, part of a group that won two contracts in an historic Mexican oil auction this week, will carry out production and exploration in the shallow water fields awarded, Mexico's oil and gas regulator said on Friday. Houston-based Talos and its consortium partners…
First Mexico Offshore Auction Disappoints
Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open up the long-nationalized industry to private investment. Both the shallow water exploration and…
Mexico Auctions Two of First Seven O&G Blocks
Mexico auctioned only two of the first seven blocks in its initial offshore oil and gas tender on Wednesday, half of the oil fields up for grabs as part of a historic opening of the long-nationalized industry. Both of the shallow water exploration and production…
First Phase of Historic Mexico Oil Auction Misses Expectations
Mexico auctioned only two of 14 blocks in a pivotal oil and gas tender on Wednesday, falling far short of the government's modest expectations as it begins to open up the long-nationalized industry to private investment. Both the shallow water exploration and…
