The Talos Energy, Sierra Oil & Gas, and Premier Oil joint venture was the only winner at Mexico’s historic Round One, in which the consortia was awarded two blocks.
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Map of Blocks 2 and 7. From Premier. |
Blocks 2 and 7 contain numerous leads in established and emerging plays, located in the shallow water Sureste basin, a proven and prolific hydrocarbon province in the Gulf of Mexico.
Both blocks contain Tertiary clastic plays, typical of the Salinas sub-basin. The forward plan is to acquire, evaluate and reprocess 3D seismic data with a view to firming up drilling locations towards the end of 2016.
“We are very pleased with the outcome of this round which provides Premier with a low cost entry point to emerging plays in a proven oil and gas province,” Tony Durrant, Premier chief executive said.
Talos is the operator of the consortia with 45% interest. Partners Sierra Oil & Gas holds 45%, and Premier holds 10%.
Premier can elect to participate in the drilling program at an equity interest of up to 25%.
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