Why is Carlos Sims buying more TALO?

[dan_s]

https://finance.yahoo.com/news/billionaire-carlos-slim-ramps-oil-123527527.html

The 84-year-old mogul, who made the bulk of his fortune through telecom firm America Movil SAB, has also ramped up purchases of shares of Talos Energy Inc., a Houston-based exploration and production company with fields in Mexico.

Slim’s family holding bought the most Talos shares in an offering in January and has kept adding through March, May and now June with a 20.6% position in the firm. The billionaire had already acquired a significant stake in the firm’s Mexican subsidiary, which is co-developing one of the country’s most promising oil fields in years with Pemex.

“We’re getting into oil,” he said at the February press conference. “Investing in Talos is because we want to be partners with someone with experience. Not just in Mexico, but also in the Gulf.”

[Petroleum economist]

According to Forbes 2023, the Carlos Slim family fortune was $ 102 B. The 20.6% holding of Carlos Slim in Talos is equal to $ 445 M or 0.44% of his total fortune. Not exactly a big investment by his standards. Possibly it makes more sense from a strategic point of view, then from an economic point of view.

[dan_s]

Carlos knows that that the Zamo project is a BIG DEAL. He is impressed by Talos' management team.

After hurricane season, I hope to get Talos' CEO on one of our webinars.