For the first time in about eighty years Houston’s Talos Energy LLC along with London-based Premier Oil Plc and Mexico’s Sierra Oil & Gas have sunk the first privately owned offshore oil well. Its Mexico’s drive to bring foreign competitors to its oil market sense its nationalization of its oil industry in nineteen thirty eight. The Zama-1 well off the state of Tabasco holds approximately five hundred million barrels of oil and will take about ninety days to complete the drilling. Bidding after Mexico voted to open its oil industry has lead to this momentous moment, as the state-run monopoly has been held by Petroleos Mexicanos for many years. This well will be keenly watched for future investors in the industry.
Tim Duncan and his partners had to be cautious after the financial crisis of two thousand and eight. After being forced to send money to the banks they could only afford to go after the most profitable spots. Soon after by twenty eleven the team at Phoenix Exploration had doubled the company’s size and started Talos Energy with $600 million in equity. WorkplaceDynamics named Talos the best workplace among small businesses, but this wasn’t through sheer carefree attitude. It takes hard work to be successful at anything. Duncan has place equity with his employees rewarding talent. Only we decide how much we are worth, Duncan has said in an interview.
Talos is ready to hire and grow more with over five hundred million dollars in projected revenue this year. Talos Energey has an entrepreneurial drive that is a make it or break it attitude. Duncan is the kind of guy that is like bring me your biggest baddest best ideas even if its ten o’clock at night. He wants his employees and investors to know he is out there trying to make them money. Emulating his managers of the past while he worked at Gryphon Exploration has been one of his biggest goals as they always listen to there employees. Geoscientist Ben Winkelman was lured back with the openness of company meeting, even if its bad news. With all the benefits of working for Talos Energy, its no surprise at how successful they are.