What is the Low Down on Pemex?
Pemex is Mexico’s state ran energy company. They have suffered from what the Mexican president has referred to as a 14 year slump in oil production. Talos Energy from the United States became particularly interested in working with Pemex when it was discovered that they have done Gulf of Mexico drilling in a spot not far from where Talos Energy will be drilling soon.
So why do they want to Work together?
It’s going to be a huge benefit to both parties really. Just as Talos Energy is eager to look at Pemex’s drilling information, Pemex is interested in learning what they can from the upcoming Talos operation involving a commercial entity from the United States. Because of this, the two will form a mutually benefited partnership. Talos will have information to begin with and should be able to help Pemex out of their almost decade and a half slump.
Everybody’s Excited about this Deal…
Everybody is excited over this deal because it is expected that a great deal of the oil produced will wind right back in the local economy. This sort of situation provides a level of freedom for American and Mexican entities as they don’t have to honor OPEC traditions of unreliability. This is probably why the Mexican president is happy, Pemex management is happy, and Talos Energy is also excited. Let’s not forget, when Lopez was President-elect, he promised to repair Pemex in such a fashion. Talos is the tool to accomplish this and the president knows it.
The End of November Marks the Date…
xThe end of November marks the date for the Zamba drilling operations previously discussed. Only time will tell how Talos and Pemex are able to work and grow together. The odds of it going well look quite high as of now.
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