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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Tim Duncan leads Talos Energy to Bright Future in The Crude Business

Onshore drilling is becoming more popular, but it’s a short-term game. With a more guaranteed return, onshore oil reserves are drying up faster while offshore sites are able to produce large amounts of barrels per day for over a decade. Perhaps it was this outlook that had Tim Duncan adamant to stay in deep waters and not succumb to the temptation of a more ‘sure’ thing. Even with newer and younger investors wondering why he hasn’t chosen to drill onshore, Tim has stayed true to his commitment to deepwater drilling at Talos energy.

When hurricane Harvey hit the US, it brought with it devastation that was unlike anything in recent memory, it had destroyed Tim Duncan’s street, making it unusable. It filled up the first floor of his house and he, along with his family had to be rescued by a FEMA boat. After his concern for his family, his greatest concern was making sure that his oil company, Talos Energy would be able to seal the deal that would mean the take over of Stone Energy, a publicly traded company. Stone Energy was running on a loss but the benefit of taking Talos Energy public without the cost of doing so offset the losses with some debt restructuring.

He was able to get his family to Alabama before returning to his parents’ Houston, TX where he would work on the deal from his mother’s kitchen and would see the merger happen in May. While most companies are somewhere in the Permian Basin, Talos Energy is taking a more radical approach by becoming one of the few foreign companies to drill in acreage under the authority of the Mexican government by securing the rights for an area off of the Gulf of Mexico – Zama, which will be able to produce oil in around five years.

Growing up all over the world thanks to his father being in the oil business with his childhood spent in Egypt, Texas and Florida have given Tim Duncan a global perspective which has allowed him to make choices that are not the easy ones, but choices he believes will grant him the biggest rewards.

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