Mexico is advancing the oil drilling industry by allowing private companies to drill in waters of the Gulf.. This is the first time this has happened in more than eighty years. Mexico has had a monopoly on their oil drilling since 1939. They hope to improve on their ailing oil industry by allowing the drilling company, Talos Energy LLC from Houston, Texas. to be a vital part of this new effort. Talos Energy has partnered with two other companies to make this venture a drilling and productive success. The new and technologically innovative Zama 1 well, can hold from 100 million to 500 million barrels of crude oil, and has a high potential for success. Mexico is doing this as part of their new oil reform. Mexico voted to allow private investments to do this project, and Talos Energy and partners won the rights during the first round of bidding. The well is set in the Sureste Basin off the Tabasco shore line and learn more about Talos Energy.
Talos Energy, LLC is a small company that was started around 2011 by Tim Duncan, with the equity of $600 million from some of his previous backers, and assets in the Gulf of Mexico that produced 16,000 barrels of crude oil per day. Tim Duncan is the President and Chief Executive Officer of the company. Duncan also had a team of 60 professionals committed to his new endeavor. An independent gas and oil company, Talos Energy LLC is focused on production from offshore explorations. The management and technical teams have an average of thirty years of commercial, operational, acquisition and geological experience in the Gulf of Mexico. Mexico awarded the contract to Talos Energy LLC the Houston based company, after the Historic Constitutional Energy Reform. This made Talos the first foreign company to operate in Mexico since 1939 and more information click here.
More Visit: http://www.riverstonellc.com/#!partners/exploration-and-production/talos-energy-llc
Talos Energy, a Houston-based oil exploration and acquisition firm, is making waves in the Mexican waters with greatly rewarding offshore explorations. The company, joined by Premier Oil, based in London, and Sierra Oil & Gas from Mexico, has also created history when their consortium started drilling in the Mexican waters after a long period of 80 years as private players. It should be noted that the Mexican oil industry was nationalized in the year 1938, and since then, all the exploration rights were granted to Petroleos Mexicanos, the state run firm. The consortium started drilling the well named Zama-1 on May 21, 2017, located near Sureste Basin away from Tabasco. The statement issued by Talos confirmed that the well could produce 100-500 million barrels of oil.
It was also confirmed that the drilling was expected to complete in 90 days. Interestingly, the companies secured the rights in the year 2015, during the first round of bidding that opened Mexican soil and water for private players. Elaine Reynolds of Edison Investment Research, a leading research firm in the oil sector, confirms that the industry is keenly watching the outcome of the drilling and refining process as the first non-Pemex attempt in the Mexican waters in after long years. Interestingly, the basin structure brings the possibility of “high geological chance for success.” It should be noted that Talos Energy is acting the role of oil well operator and holding the 35% stake in the venture. Further, Premier holds 25% stake, and Sierra takes 40% of it.
Talos Energy was founded in the year 2012 as an independent crude oil and gas company. It has exploration and production services in the U.S., Gulf Coast, and Gulf of Mexico. The energy firm gives greater emphasis to exploration, asset optimization, and exploitation to drive high-value outcome from each of its missions.
The company is formed by the partnership of Riverstone Holdings and Apollo Global Management. Though Talos was founded in 2012, it learned the expertise required for the industry quickly and started innovating in all areas of its operation. It also commits safe, environment-friendly operations and implements various measures in its systems to support it.
The Ubuntu Education Fund has been undergoing some major changes in recent months thanks to the work of CEO Jacob Lief and Andrew Rolfe — a chairman on the Board of Directors. The Ubuntu Education Fund has risen to fame thanks to its focus on reforming South Africa by helping impoverished children get the help and funding required in order to pursue education. Lief’s goal is to change lives with the Ubuntu Fund and thus far he has been well received for it. Still, there is much to do and that is why the Ubuntu Education Fund has been undergoing some changes.
Jacob Lief was on a speaking tour at the World Economic Forum for their annual meeting in Davos when he came to a screeching halt and a sudden conclusion. Lief says, “It was nonsense. The money was flowing in but we weren’t changing people’s lives.” It is this sentiment that many people don’t truly understand in relation to non profits and benefactors. A non profit can have a ton of money coming through the donations channel but it can be so tied up and beholden by regulations as to make it almost worthless in their day to day operations.
Lief had to approach the board of directors, including chairman Andrew Rolfe, in order to remedy the situation by focusing on a new kind of funding requirement. Lief says, “We now go for high net-worth individuals or family foundations who understand that highly restricted funding isn’t worth our time.” Lief’s new outlook on fundraising for the Ubuntu Fund is called the Ubuntu Model. The Ubuntu Model is going to be a huge difference maker for non profits all around the world. Andrew Rolfe and the rest of the board of directors were quick to sign off on this new fundraising attitude as it appeared to be quickly paying dividends.
Now, Andrew Rolfe would be the first to admit that their budget has shrunk since the change. However, the money that is coming in is coming without any sort of strings attached. As a result, Andrew Rolfe can happily watch the money go where it needs to go.