Talos Energy Explores The Gulf Of Mexico To Make Petroleum Products For The World

Talos Energy explores the Gulf of Mexico in search of oil deposits to make petroleum products the world uses daily. The Talos Energy company merged with the oil company Stone Energy. The merger in part was to gain access to oil production platforms within the Gulf of Mexico. Talos Energy Inc. added 14 more blocks to the property the company has access to drill in.

The 14 block lease in the Gulf is over 75,000 acres’ worth over $5 million dollars combined. Leasing the blocks means that Talos Energy drilling and royalty rights for a specified period. A lease durations last for 7 or 5 year periods. So they lease the acreage to Talos Energy not purchased outright.

The leases were gained from the Bureau of Ocean Energy Management also called (BOEM). 10 of the 14 sites or blocks Talos leased is clear to be favorable for the conditions to find oil deposits. Talos Engineers and Geologists tested the areas and used specialized equipment to make their determinations. Therefore, the company will set up drilling platforms on these sites. The sites could pump oil in the time of 6 months or more.

Talos Energy gained a new site from the merger with Stone Energy oil company. Stone Energy had an existing well in the Mississippi Canyon called Mt. Providence. The Mt. Providence platform reached oil at a sub-sea level of 1,800 feet. Once the merger completed they connected the Mt. Providence to the existing Pompano Platform owned by Talos Energy.

Because of the combination, the two wells are pumping out over 3,800 barrels of oil per a 24-hour period. They use the oil to make the product people need daily. They make everyday products like gasoline, oil, grease, lubricants, and plastic household products from oil.

Tim Duncan who is the President and Chief Executive Officer of Talos Energy. Boasted the company is proud of the completing connecting the Mt. Providence and Pompano Platforms together. The connection was months earlier than expected. The wells are producing thousands of barrels of oil per day. Then the oil ships to our refineries and turned into everyday necessities.

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