Talos Energy Takes On Stone Energy In Massive Merger

During the fall of 2017, The city of Houston and other cities across southern Texas were preparing for the effects of Hurricane Harvey.

The Chief Executive Officer of Talos Energy, Tim Duncan, was in the midst of preparations of his own as the storm neared his neighborhood of Kingwood, Texas. Stone Energy, a failing and bankrupt oil and gas corporation, was on the line for a $2.5 million merger opportunity. Though he had to pause the proceedings to rescue his wife and child from the waist-high flood waters, Tim Duncan pressed on and sealed the deal between Talos Energy and Stone Energy Corporation.

In May 2018, shareholders in the company would note the new New York Stock Exchange ticker, TALO, which would now represent both establishments stockholders. Shareholders should hold off on feeling nervous about a successful company like Talos Energy absorbing such a company as Stone, but one should wait for the low-risk ratio that comes with it before making any decisions. Stone Energy had a whopping $2.3 billion total in assets, which shadows the minimal to comparison $700 million in debt. The team has already reexamined new seismic data and discovered new drilling locations. Brand new wells have become established, and the newfound company is producing 16,000 barrels of oil in single day; however, the team at Talos Energy plans to do a far higher number than that soon.

Talos Energy didn’t halt their momentum there. No one ever had permissions to drill for natural resources in the Gulf of Mexico, but for the Mexican owned Pemex oil company. Talos Energy retained information from their Zama-1 well located in the A-7 block of shallow water in the Gulf of Mexico. They discovered a deposit in this location with the ability to produce between 1.2 billion and 1.8 billion barrels of oil. Pemex agreed upon a 2-year preliminary agreement which allows Talos Energy to drill wells in the A-7 shallow water block of Mexican waters in the Gulf of Mexico. At any point in time the President-elect, Obrador can review the contract between Pemex Oil and Talos Energy. With a staff with decades of experience in the industry are at the steering wheel, there’s no telling how far Talos Energy will continue to go!

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Talos Energy Investments In Oil And Gas Production

Talos Energy LLC it is a company involving in exploration, manufacture, and development of oil and natural gas in the Gulf of Mexico and Gulf Coast. It was founded in 2012 and owned by Apollo Global Management and Riverstone Holdings. The company’s headquarters are in Houston Texas.

The company is led by Timothy S. Duncan as the CEO and the President, Michael Harding II as the CFO and Senior Vice President, Stephen E. Heitzman as the COO and Executive Vice President and John A. Parker as the Executive Vice President in exploration.

The Talos Energy they discover and exploit Gulf of Mexico and the Gulf in the Coast region by trying to recover treasured assets that people thought they are unreachable by majorly focusing on the improvement in production and search.

The Talos Energy tries and focuses on locations where their teams have had an experience and also a region where there is a good geological formation. The employees, contractors, visitors and the public people safety, health and welfare are ensured to be the company’s priority and core value. Before they start their work in discovering and generating oil they first ensure that all requirements that ensure safety are met.

Talos Energy also involves in the business emerging activities JVs and farm-in where economic deal improve inventory. The management of the Talos Energy builds two private equity-backed companies: the Phoenix exploration and gryphon exploration and later sold them each giving back a return investment.

The company gives its workers some benefits like life insurance, paid parking, health insurance, and 401 matching.

On 31 August the Talos Energy Company made a declaration that they have purchased the whistler energy II. The Talors Energy they negotiated from $77 million to $52 million which was the purchasing price for the whistler energy company.

The strategic benefit of the Talos Energy to acquire the whistler was to improve and go past the present leases produced; it was beneficial to the Talos Energy because it would increase on the leases sales in the Gulf of Mexico.

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