Talos Energy is a Houston-based company founded by Timothy Duncan, its current CEO. The funds used to start the company were acquired from Apollo Global Management and Riverstone Holding, with $600-million total being raised to start the company. The company is focused on engaging in development, exploration and the production of both oil and natural gas properties, with most of its research efforts being centralized in the Gulf of Mexico and the Gulf Coast. Talos Energy is led by previously mentioned Chief Executive Officer Timothy Duncan, CFO Michael Harding II, COO Stephen E. Heitzman and the Executive Vice President of Exploration John A. Parker.
The oil and gas producer has been private since its inception, but recently that changed with a $2 billion merger with Louisiana’s Stone Energy last month. This deal has caused Talos Energy to go public and it is now being traded on the NYSE (New York Stock Exchange) as TALO. The deal has created a humongous offshore oil and energy producer and has changed Talos Energy from a firm purely focused on the Gulf of Mexico to a fierce competitor in both the US and Mexico. CEO Tim Duncan is ecstatic with this deal and states that it is a combination that will cause waves in the industry. Previous backers of Talo will now own 63 percent of the combined company and Stone stock owners will own 37 percent.
Tim Duncan has also gone further in his praises for the deal and claims that the company is in an amazing position to seize potential opportunities in their industry. The specific opportunities he is mentioning are a high quality asset portfolio and a capitals program focused on returns in their operations. Talos Energy has also recently found Zama offshore of Mexico and has claimed a few of the first offshore bids with partners in the process of Mexico’s energy reform.
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