The future of Mexico’s energy industry is up in the air but with companies like Talos Energy working to ensure that production is increased and the new reforms are a success, their future is starting to look good. The energy reform efforts of Mexico began in 2012 when many of the assets of the country were made private. With these reforms, they are hoping that the industry will become more efficient and this will allow them to increase productions levels of oil and equivalent.
While there are proponents of nationalization who believe that these reforms will cause even further issues related to monopolies in the industry, Talos Energy and Mexico believe that they will be able to operate in the middle. This will lead to all parties involved achieving success without the negative results that some are expecting. The solution that the companies involved in privatization are using hopes to not harm the social welfare of the areas involved while boosting production for Mexico.
Mexico is not the first country to make similar reforms and this gives them a large knowledge base to work off of before making important decisions. It’s almost inevitable that their efforts will allow them to achieve their goals. Hundred of millions of barrels have already been added to the reserves of the nation since these new reforms were implemented. While the numbers might not seem that large when compared to the overall numbers for production, things are just getting started and new trails are being blazed all of the time with companies like Talos Energy. Earlier in 2018, they became the first private company to drill a well in the country.
The Founder and President of Talos Energy is excited to be one of the pioneers in oil after these important developments in Mexico. Tim Duncan has been raised in the medium oil industry for all of his life and successfully followed in his family’s tradition. His first position after earning his petroleum engineering degree was with Gryphon Exploration with their reservoir Engineering department. As the manager for the department, he aided with engineering and evaluations.
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