Premier Oil and partners Talos Energy and Sierra Oil & Gas were awarded two blocks last month under Mexico’s Round 1.

Both contain various leads in established and emerging plays. The location is in the shallow-water Sureste basin in the Gulf of Mexico.  

Blocks 2 and 7 contain Tertiary clastic plays, typical of the Salinas sub-basin. The partners plan to acquire, evaluate, and reprocess 3D seismic data with a view to firm up drilling locations toward the end of 2016. 

Premier currently has a 10% interest, but can elect to participate in the drilling program at an equity interest of up to 25%.

Operator Talos Energy is an independent E&P company focused on acquiring assets in and around the Gulf Coast and the Gulf of Mexico regions.

Sierra Oil & Gas is an independent Latin American company formed to pursue upstream and midstream opportunities in Mexico.