AWARD WINNING TALOS ENERGY COMPLETES MERGER WITH STONE ENERGY

Talos Energy LLC completed its merger with Stone Energy Corp in November 2017 marking a strategic combination that will see the energy giant leverage its expertise to tap into capital projects in the US Gulf of Mexico and offshore Mexico. The boards of the two companies sealed the merger with the parent’s shareholders acquiring 63 percent of the combination. It was further agreed that Stone’s shareholders retain 37 percent of the company. The company also enlisted in the NYSE bourse and is trading as “TALO.”

Headquartered in Houston, Texas, Talos Energy has a market capitalization of $1.9 billion and a company value of $2.5 billion. Further, it has $450 million in liquid assets with $150 million in cash. Recently, the company obtained a credit facility of $300 million. With such a strong financial base, the company is positioned to tap into potential business development prospects.

Talos Chief Executive Officer, Timothy S. Duncan, was recently quoted hailing the new partnership arguing that it would improve their scale of operations. With the Gulf of Mexico and the Gulf Coast region, Talos Energy seeks to utilize its seismic experience to explore energy. The company will also leverage its extensive geological, geophysical and procedural expertise to advance its cause. All these efforts will enable the company to tap into resources considered unreachable. The company’s goal is to exploit and explore significant amount of energy resources.

Already, the merger is proving fruitful. Talos Energy became the first private equity firm to drill oil offshore in Mexico around the Zama oil basin. The basin is expected to hold between 1.4 and 2 billion barrels of oil. CEO Timothy S. Duncan described the discovery as historical and important. Talos acquired 35 percent in the block it co-owns with Sierra Oil and gas, 40 percent, and Premier Oil, 25 percent. Following the discovery, the company also bagged the “Discovery of the year 2017”. The prestigious award, dubbed WoodMac’s award, brings together more than 200 senior business executives and experts to mark their ballot on the most exciting discoveries. The future indeed looks bright for the company.

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Talos Energy, The New Face Of Oil And Gas Exploration And Production

Before Talos Energy merged with Stone Energy, there was a storm named Harvey that ravished Southeast Texas in 2017 with wind speeds of 130 mph. Talos Energy executive Tim Duncan, found himself, his wife, his 6-year-old-son and their 2 dogs on a FEMA rescue boat from their home in Kingwood, Texas-a suburb of Houston. 4-months prior to this, Duncan had begun brokering merger. Brokering such a deal is a challenge under normal circumstances needless to say, Hurricane Harvey made closing this deal, much more difficult. In spite of the hurricane, Duncan persisted and eventually closed the deal with Stone Energy Corporation. Making Talos a public entity without the expense of a public offering. Now, Tim Duncan presides over an oil company with an annual revenue of $900 million.

Talos Energy’s expertise lies in the acquiring of operated shelf and developed deep water assets in the Gulf of Mexico. Talos then explores, exploits and optimizes those assets using innovative and cutting-edge seismic technologies. The company, which is located in Houston Texas, was voted one of the Top Work Places in 2017. For example, Talos reexamined seismic data that enabled the ship Helix Producer to make new discoveries 3,000 feet deeper than the old reservoirs. You might recall that The Helix is the ship that helped to capture some of the 4 million barrels that gushed into the Gulf after the big Deep water Horizon oil spill in 2010. Talos Energy is also a company that prides itself on making the welfare of its employees, contractors, visitors and the general public a top priority! Maintaining compliance with applicable health, safety environmental laws and regulations is a constant focus and is fundamental to the company’s culture.

One thing that won’t change for the foreseeable future, is that oil and gas will continue to be the main source of energy. When it comes to recovering previously unreachable valuable resources, Talos Energy is a company that is focused on continued innovation in the exploration and production of these resources.

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