Talos Energy Zama-1 Exploration well spuds, Mexico

Zama-1 well

We are watching with interest, the results of Zama-1, which is the first exploration well to be drilled on acreage awarded in Mexico’s first international licencing round in 2015. The well operated by Talos Energy (35%) along with partners Sierra Oil and Gas (40%) and Premier Oil (25%) spudded on 21st May using the Ensco 8503 semi-submersible rig and is expected to take 90 days. The well drilled in 165m of water in the Sureste Basin is targeting a Tertiary prospect at a depth of 3000m. Zama, a 3 way dip closure against a salt diaper, exhibits a strong DHI and the COS has been estimated to be 52%. Mid case prospective resources are estimated to be 300mmbbls.