Stephen E. Heitzman – Founder, Executive Vice President & Chief Operating Officer
Steve Heitzman is a Founder, Executive Vice President and Chief Operating Officer of Talos Energy LLC. Prior to Talos Energy, Mr. Heitzman was the President and Chief Executive Officer and a founder of Phoenix Exploration Company LP. Prior to Phoenix, he was a founder and V.P. Operations of Gryphon Exploration and was responsible for the formation, staffing and supervision of Gryphon’s Operations Team from 2000 through 2006. While at Gryphon, he managed aggregate capital expenditures of more than $250 million and led the team that was responsible for industry leading metrics.
Talos Energy LLC Completes Operations on Zama-1 in Offshore Mexico
Houston, July 31, 2017 – Talos Energy LLC (“Talos” or the “Company”) as operator, together with its joint venture partners Sierra Oil and Gas S. de R.L de C.V. (“Sierra”) and Premier Oil Plc (“Premier”), is pleased to announce that the Zama-1 exploration well, offshore Mexico, has completed drilling operations, reaching a total depth of 13,480 feet (4,109 meters). Zama-1 is the first offshore exploration well to be drilled by the private sector in Mexico.
Well results confirmed the base of the reservoir section, with no penetration of an oil-water-contact. The well drilled deeper into a higher risk formation and no additional hydrocarbons were encountered. The initial oil in-place volumes for the Zama-1 well are, as previously announced, from 1.4 to 2.0 billion barrels. The gross oil bearing interval is over 1,100 feet (335 meters). Talos finished drilling operations ahead of schedule and under budget. The well has been suspended as a future producer.
Talos, together with its joint venture partners Sierra and Premier, is now analyzing all the data gathered from the Zama-1 well and evaluating the best way to appraise and develop this historic discovery.
“To announce such a historic discovery less than two years after being awarded the block, safely and without incident, is an excellent example of the benefits of having smaller operators participate in the reforms – we can match the operational sophistication of our larger peers, but with a heightened sense of urgency” said Tim Duncan, President and Chief Executive Officer. “We look forward to our appraisal activities on Zama and continuing to explore additional prospects on our acreage.”
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