Talos Energy Finally Merges With Stone Energy Corporation, Making It The Biggest Achievement

For many years, Talos Energy CEO Tim Duncan has been working hard wishing that one day his company would merge with Stone Energy Corporation. When the day came, although he anticipated it, Tim did not believe. It was a dream that had come true. The 45-year old Tim Duncan has been contemplating on how to expand his business. Although he never thought that the expansion would come from him acquiring an almost bankrupt company, he was willing to take the risk. After all, he argued that the $2.5 billion isn’t a big deal to Talos Energy that for a long time has been Duncan’s privately owned company.

Remember that when Duncan was purchasing this ailing company, he was also faced with a very disastrous situation. Just a few days ago, the Talos Chief Executive Officer wadded through the flooding waters that were brought by the Hurricane Harvey that devastated most parts of Kingwood, TX rendering roads impassable. He waded through the waters hoisting his wife, their 6-year old, and two dogs. Tim and his family managed to travel to his mother’s house where they pitched a tent for a number of days. As days moved and the Hurricane Harvey’s wreckage was subsiding, Tim confided to her mother that he is contemplating of acquiring the ailing Stone Energy Corporation. Even if Tim’s mother would bring a different opinion, the Talos CEO was only sharing the news anyway. He did not need a second opinion. His wife Christy and their son would see her husband sitting with Patricia his mother on the dining table discussing on how the merger would impact their lives.

After the Merger

Upon completion of the deal, Duncan became the Chief Executive Officer of a much bigger Talos now TALO with an annual revenue projection of $900 million. According to Tim, almost all the assets that belong to Talo will remain in the Gulf of Mexico, where Duncan says the environment is friendlier for the oversight. Since his childhood, Duncan, the son of a former oil company man has known no other lucrative business apart from oil wells. He has grown up in Egypt, Florida, and Texas. However, those who know him say he is more of a New Yorker.

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Talos Energy and their Recent Acquisition

Talos Energy is a US-based oil and gas company. Talos Energy has recently acquired Whistler Energy. The acquisition took place in a $52 million transaction. CEO of Talos, Timothy Duncan, spoke on the recent event. He commented on the company’s satisfaction with the acquisition of Whistler Energy. Some of these prerequisites Talos looks for when acquiring an existing company include low-entry costs, production facilities with the adequate capabilities and a new seismic.

Talos Energy spoke on the recent updates within the company as beneficial for business. They spoke on the acquisition of the Green Canyon 18 Field as a great addition to their previously acquired land. The assets that were obtained through this event consist of three parts. Green Canyon 60, Ewing Bank 988 and Green Canyon 18. These areas are located in the Gulf of Mexico.

ExxonMobil originally developed Green Canyon 18. ExxonMobil subsequently sold the land to Whistler Energy during 2012. There has been a total production of over 117 million barrels of oil produced on the land.

Talos Energy previously won the “Discovery of the Year” award in 2017. The award was presented during the WoodMac annual awards ceremony. The WoodMac award accounted for over 200 business leaders in 2017. Talos Energy was noticed for their Zama oil discovery located on the offshore of Mexico. Zama is a new drilling site and is expected to hold anywhere from 1.4 and 2 billion barrels. Duncan spoke on the recent finding of Zama. He called the operation a “historic and significant discovery.” Talos currently has a total of 35 percent interest in the block. Sierra Oil and Gas has 40 percent interest in the block. Premier Oil has a total of 25 percent in the acquisition.

Talos Energy is an independent production and exploration company. They have their operations located in the Gulf of Mexico as well as in the shallow waters off the Mexican coastline.