Why Talos Energy Remains a Power in the Oil and Gas Industry of America
Talos Energy is a privately owned oil & gas firm that explores offshore spots and produces the products in the same areas. The main areas of focus are the Gulf of Mexico and Gulf Coast. Since its establishment, Talos has risen to produce more than 48,000 barrels of oil on a daily basis.
Talos Energy records its assets in the Gulf of Mexico, which currently reads $900 million in total. Talos Energy benefits the most from the Phoenix region, which is 165 miles on the south of New Orleans. In 2005, hurricane Rita moved the platform 60 miles further and almost ruined the entire mining well. Talos revived the site and currently reaps 16,000 barrels of oil using ship Helix Producer.
The chief executive officer of Talos, Tim Duncan, began his tenure in the oil industry in 1996. He worked for Zilkha Energy under Selim Zilkha, who envisioned a smarter way to drill oil from the gulf of Mexico. In 1997, Selim sold the firm at a price value of $1.2 billion.
The Chief Executive Officer was inspired with the performance at Zilkha Energy and courageously launched into entrepreneurship in the industry. He started Gryphon Exploration in 2000 and led it to produce more than 50 million cubic feet of gas before selling it to Woodside Petroleum. Tim then started Phoenix Exploration in 2006 with extra funding from Riverstone, Soros Fund and Pine Brook. After a successful few years of operation, Phoenix sold to Apache Corporation.
Tim established Talos Energy in 2012 at a price value of $600 million in collaboration with Apollo and Riverstone. He invested in Phoenix field in 2013 by purchasing it for $620 million. The Mexican gulf has undergone tumultuous changes that sometimes throws off investors and oil companies. Duncan revealed that most Talos gains most of its returns from awaiting the gulf’s rebound.
Talos became part of the United Kingdom’s enlistment to purchase Premier Oil and Riverstone. Duncan stated that his team assured him of the readiness of the basin and reanalyzed the geographical data of the zone before setting up Zama. Tim’s work colleague John Bookout commented that Tim Duncan is a sharp and fast investorbusiness leader who recognizes and takes due advantage of lucrative opportunities in the industry.
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