After privatizing the oil industry in 1938, Mexico’s Petroleos Mexicanos was responsible for controlling the country’s oil supply. Recently though, Mexico has made steps to ease foreign competitors back into the market, and has notably given access to its resources to a number of oil companies. Of these companies, Houston’s Talos Energy has recently established an oil well, which marks the first offshore exploration to occur in the country since its regulations were initially passed almost a century ago.
Although there are certainly financial implications for being one of the first competitors to re-enter the market, there is also an interesting element outside of that. Talos Energy has managed to position itself as one of the leaders in the burgeoning marketplace, and will no doubt be seen as one of the main innovators for the developing industry.
For their part, Talos Energy is no stranger to the shifting demands of the oil industry. Its founders, including Tim Duncan, have had a history of building oil companies from the ground up. Talos Energy is no exception, and has proven in its short history to be far more capable than its size might initially suggest. In fact, Talos Energy is routinely listed as one of the top small businesses currently in the country, and it will be interesting to see how their entrance into the Mexican market will influence their growth.
Although Talos Energy is often highlighted for their outstanding workplace philosophy, it’s worth noting that this isn’t due to any specific work culture. Instead, Talos Energy inspires its workers by treating them fairly, and by giving them a piece of equity in the company itself. Regardless of whether its employees are receptionists or scientists, all of them stand to profit from the value of the work they put in. By creating this dynamic, Talos Energy has ensured that its workers take their jobs seriously and they can continue to look forward for new growth opportunities. Mexico’s market may be the latest expansion for Talos Energy, but it’s clear that this won’t be the last.