Talos Energy, a Houston based offshore oil company has made an oil find off the coast of Mexico that may eventually produce more than 2 billion barrels of oil. The find by Talos is the most significant since the Mexican government decided to allow foreign companies to explore Mexican waters for oil three years ago.
Executives with the company report that the oil find is located 37 miles from Puerto Dos Bocas, a town located on the southern coast of Mexico. The well has been named Zama-1, is positioned in waters that are 500 feet deep and has so far reached depths of 11,000 feet. Talos Energy president Tim Duncan, says that the company believes the full development of the find will take approximately four years.
Industry insiders say the discovery is important and that more drilling should be done in waters south of the United States border. One analyst, working with the research firm Wood MacKenzie, Pablo Medina, says that Zama-1 is guaranteed to be one of the 20 largest fields to be discovered in shallow water over the last two decades.
Francisco Monaldi, a fellow with the Baker Institute for Public Policy at Rice University, echoes the sentiments of others in the industry who feel that more interest is likely to be given to drilling in Mexican waters. Monaldi also says that the news of the oil discovery is a welcomed one for the Mexican government.
The deregulation of the Mexican oil and gas market took place in 2014 and effectively broke the stranglehold that Petroleos Mexicanos, a state-operated company, had exercised over the industry. Mexico held auctions in 2015 allowing companies to purchase the rights to explore and drill in different areas. Houston area oil companies found this to be an inviting offer due to the close proximity of the new area now available for drilling.
Talos Energy is a relatively small company in the oil and gas industry with $500 million in annual revenues and approximately 200 employees working for the company. Talos believed early in the game that the field it had accessed would soon bear fruit. This belief was confirmed when drilling began.
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Entrepreneurs and investors become successful for a number of reasons. Hard work and tenacity both play roles in a driven person’s quest for success. Another trait assists with being successful. Successful people have a tendency to be more right than wrong. A person who puts money into the stock market or venture capital endeavor needs to be more right than wrong. Otherwise, the endeavors won’t yield any return on investment. Shervin Pishevar gained a strong reputation as someone who knows how to make the right moves. His career as a venture capitalist indicates he possesses strong insights into where a business may be headed profit-wise.
So, some panic may be circulating due to the tweet storm Shervin Pishevar blasted out over social media in February. Pishevar covered a range of different topics. Among those topics was a dire warning about the stock market. Pishevar held nothing back. He feels the market may collapse. By collapse, Pishevar suggests a decline of many thousands of points. If this prediction comes to pass, billions of dollars in wealth would be wiped away. Of course, markets experience both ups and downs. A crash might be followed by a boom period. The period in between, however, could be a long time.
An eventual recovery doesn’t eliminate the pain a market decline brings. Huge crashes, even ones that experience eventual recoveries, do create massive problems in the economy. To address the immediate loss of capital, businesses cease hiring and might initiate layoffs. Personal investors choose to stop spending their money as conservation becomes necessary. Such reasons are why Shervin Pishevar choose to deliver a warning on Twitter. He probably wants the public to be prepared for a worst-case scenario.
Pishevar’s commentary carries weight as he is known for putting money into ventures such as Uber and Silicon Valley startups. His assessment suggests a 6,000-point drop. Pishevar bases his opinion on the losses 2018 experienced in relation to the gains of 2017.
Will Shervin Pishevar change his opinion about the market? It is possible. Keep tabs on his Twitter feed to see if his stated opinion changes.
Boraie Development is a development corporation that is expanding. In the past few years, the real estate market in New Jersey has improved drastically. Many people are traveling to the area in search of employment. Boraie Development recently decided to offer various incentives to working mothers.
Omar Boraie is the founder and CEO of the company. He spends a lot of time working in the local community. He heard from many working mothers who were struggling to balance their work and life obligations. He decided to make Boraie Development an excellent place for working moms. Not only did he start offering daycare services in his building, but he also allows working mothers to work from home. Working from home is a fantastic incentive for anyone who has children.
Omar Boraie founded Boraie Development many years ago. He worked in the construction trade for many years before starting the company. He started a business because he wanted to improve his lifestyle. He wanted to earn additional income and have more freedom over his time.
According to NJ Biz, at the time, the real estate industry was declining. Boraie Development was struggling with falling sales and profits. Omar Boraie had to make drastic changes to the business to keep it going.
Omar Boraie is always looking for new ways to improve his company. On State Theater NJ, he says he is excited about the new initiative to help working moms. However, he is also thinking about making several other enhancements at his company.
He wants his employees to receive compensation for their hard work. He decided to start offering a bonus program based on the total profits of the company. This bonus program is an excellent way for employees to participate in the upside of the company. Boraie Development is on a growth trajectory that many business owners appreciate.
When you ask a person with resources and lots of influence to help people in need, most of them will respond in a positive way. This is exactly what Narbors Industries Chief Executive Officer Tony Petrello did for the Hurricane Harvey victims in Houston. After this disaster struck in August of 2018, many residents within the city were flooded with water. At least one-fifth of Houston was underwater. Petrello did not make any excuses about why he could not help people. He realized what needed to be done and just went to work.
Narbors is an energy company located in Houston area. The organization has employees that live within this city. When the hurricane struck it caused quite a few of the company’s employees to lose their homes. Petrello knew that this was not a good situation for them or for the people in the community.
He decided to give his employees paid time off work, so they could help the community to recover. He then sent out crews of his employees to volunteer in the relief effort. Narbors employees helped local residents by setting up makeshift kitchen areas to feed people. They provided three meals a day to people in need within some of the areas of the city.
They also helped to clean up the city and to find missing people if there was a need. This effort made by Narbors is nothing new, but it has been well appreciated. Houstonians were very appreciative of Narbors aid. Not everyone knew about Narbors but for those who did they realized how much they really cared. They did not sit back and watch people suffer; they go involved to make things better.
Tony Petrello has always had this kind of attitude. He is natural philanthropist at heart. He has given to many organizations in the past. His company has been there in the past when problems have impacted communities. Petrello not only gives because it is a part of corporate responsibility, he gives because he wants to seriously change the bad situations that people experience. Hurricane Harvey has been a destructive force that caused people to become homeless and it also caused billions of dollars in property damage. Thankfully, leaders such as Tony Petrello is passionate about helping others when they need it the most.
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