Historic oil find off Mexican coast

HOUSTON – The Gulf Coast-based Talos Energy LLC and joint venture partners and Gas S. de R.L de C.V. (“Sierra” Oil) and Premier Oil Plc ("Premier”) announced July 12 that its Zama-1 exploration well, 37 miles offshore from Mexico’s Port of Dos Bocas, has discovered oil. Zama-1 is the first offshore exploration well drilled by the private sector in Mexico’s history. "This is both a historic and significant discovery,” said Tim Duncan, Talos’ president/CEO. Talos holds a 35 percent interest with Sierra (40) and Premier (25). The well, located in 546 feet of water, has reached an initial shallow target vertical depth of about 11,100 feet. Talos is a technically driven independent exploration and production company focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico’s Developed Deepwater and Shelf and on the Louisiana and Texas Gulf Coast. (Talos Energy 07/12/17)