Just yesterday, TALO stock was at $11.64. However, in today’s pre-market, it is looking strong: the price is currently at $14.43, resulting in a 24% gain. Mexico’s energy ministry has put Petroleos Mexicanos as the operator of the country’s biggest oil discovery by private companies, in the latest nationalist approach to the energy industry.
The Zama field, discovered in 2017 by a private consortium led by Talos Energy, will be used by the state-owned producer. Talos officials were very disappointed with the decision and will explore other legal and strategic options regarding Zama.
Talos Energy, an independent exploration and production company, focuses on the exploration and production of oil and natural gas properties in the United States Gulf of Mexico and offshore Mexico. As of December 31, 2020, the company had proved reserves of 163.0 million barrels of oil equivalent, consisting of 109,307 thousand barrels of crude oil, 257,208 million cubic feet of natural gas, and 10,858 thousand barrels of crude oil. The company was founded in 2011 and is based in Houston, Texas.
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