Tags: APFN | LT | Mexico | Oil Discovery

Private Firms Confirm Oil Find in Mexico Shallow-water Well

Wednesday, 12 July 2017 11:38 AM

MEXICO CITY (AP) — A consortium of Mexican and foreign private companies says a well drilled in shallow water has found between 1.4 and 2 billion barrels of crude oil equivalent in the Gulf of Mexico.

Houston, Texas-based Talos Energy LLC says it has a 35 percent interest, along Sierra Oil and Gas and Premier Oil Plc.

Talos said in a statement Wednesday the well started at a depth of 545 feet (166 meters) below the Gulf surface and reached a depth of 11,100 feet (3,383 meters) underground.

It's one of the largest discoveries made in shallow water by a private firm in Mexico, where private drilling under a concessionary scheme was approved as part of the country's 2013 oil reforms.

Previously, the state-run oil company had found many shallow-water fields in the Gulf.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
TheAmericas
A consortium of Mexican and foreign private companies says a well drilled in shallow water has found between 1.4 and 2 billion barrels of crude oil equivalent in the Gulf of Mexico.Houston, Texas-based Talos Energy LLC says it has a 35 percent interest, along Sierra Oil and...
APFN,LT,Mexico,Oil Discovery
133
2017-38-12
Wednesday, 12 July 2017 11:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved