In July 2015, Mexico conducted its first round of bids after the country opened up its energy sector to foreign oil and gas investors. As a result, Talos, along with partners Premier Oil and Sierra Oil & Gas, were awarded two shallow water blocks combining for over 160,000 acres. The blocks are located in the Sureste Basin, in the south western point of the Gulf of Mexico, just off of the coast of Villahermosa, Mexico.
"Contractor safety management is a core component of our risk management plan required by the Agencia de Seguridad, Energía Y Ambiente (ASEA) for exploration activities in Mexico,” said Robert Sheninger, VP, HSE and Regulatory Compliance at Talos. "Talos Energy has experienced firsthand how effective use of ISN tools can positively influence contractor performance and are excited to apply the same processes in Mexico.”
With the recent Mexico Energy Reform allowing foreign oil & gas investors to bid on Mexican energy assets, new regulations and protocols have been developed to ensure safe practices by the ASEA. Talos’ expansion of ISNetworld into Mexico demonstrates their commitment to ensuring the safety of their employees and contractors and complying with the ASEA regulations.
"We are pleased to expand our existing partnership with Talos Energy into Mexico,” said Adam Logan, Energy Director, ISN. "We’ve seen how this region is poised for growth and look forward to helping Talos contribute to a safer workplace and meet the standards set forth by the ASEA.”
Talos Energy is a technically driven independent exploration and production company focused on exploration, development and acquisition of oil and natural gas properties primarily on the Gulf Coast of Texas and Louisiana region of the United States, Offshore Mexico, and Gulf of Mexico Shelf and Developed Deepwater. More information about Talos Energy can be found on the company’s website at www.talosenergyllc.com.
The information in this press release includes "forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of oil, natural gas and NGLs. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and the other risks described in "Item 1A, Risk Factors” in the Company’s 2014 Annual Report.
Should one or more of the risks or uncertainties described in the Company’s 2014 Annual Report occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in the Company’s 2014 Annual Report are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
CONTACT: INQUIRIES TO THE COMPANY
Timothy S. Duncan
President & CEO