A merger for the books..
Talos Energy LLC is an oil and gas company that works out of the Gulf Of Mexico. What they do is they develop and explore the production of gas and oil from that region. Talos Energy started from a $600 million dollar investment from Apollo Global Management & Riverstone Holdings back in 2012. What really put Talos Energy on the map was a discovery of 1.5-2billion barrels of light crude oil. Their desire to be the leading company in the industry developing and emphasizing on asset optimization, exploitation, and exploration.
Tim Duncan, Chief Executive of Talos Energy has been working on a personal project close to home for the last 4 months. He has been trying to orchestrate a $2.5billion dollar merger with his own personal company and Stone Energy, but this would be no easy task. The payout for Stone Energy, a publicly traded but bankrupt company, was obviously there, it was up to Tim to dig in the paperwork, crunch the numbers with a cup of coffee and sell himself of the profitable back-end if it’s there and more
All the while, having to take precautions to make sure his family was safe from Hurricane Harvey, who was at the time, still not finished making it’s a mixed drink of Texas homes and street lights, on the rocks. (no pun intended) But, he was determined and this deal was going to happen, and that he did.
Following the merger of Talos and Stone Energy what the reality of just how good of a deal they made, given its low-risk nature. It’s high assets of $2.3billion against its lower debt of $700million, mixed with a $900million dollar a year revenue was a job well done. This low-risk platform is almost a must-needed-recipe, in order to offset the high-risk nature of using million dollar equipment in the Gulf of Mexico and its frequent catastrophic weather.
There are high expectations for Tim and Talos and the resume that they bring, to double their current 48k barrels of oil a day. With old business tactics and new technology strategies, Tim, chief executive of Talos, hopes to lead the forefront of oil drilling in the Gulf of Mexico.
To know more visit @ twitter.com/talosenergyllc