Wood Mackenzie

Talos, Sierra, and Premier announced the first major oil discovery in Mexico since energy reform started in 2013. The Zama Field is estimated to hold more than 1.5 billion barrels of oil equivalent. It's one of the largest shallow water fields discovered in the past 20 years and the first discovery by a privately owned company in almost 80 years. ENI also announced a successful appraisal result in Mexico and another phase of licensing is closing on July 12th. Also, Statoil spent almost $400 million to acquire additional interest in the Carcara Field in Brazil.