Earlier this year, Talos Energy, LLC and Stone Energy Corp. were to merge to form a larger organization which would have a new name. According to the reports about the deal, the transaction was valued at $1.9 billion and was to take place in the second quarter of this year. The headquarters of the new firm, Talos Energy, Inc, would be situated in Huston, Texas.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
Some members of the team would be based in New Orleans and Louisiana. Timothy S. Duncan, the Chief Executive Officer of Talos Energy, LLC, would serve as the CEO after the merger. The board of directors would consist of ten members where six would be drawn from Talos while four from Stone Energy Corporation.
The new firm would become one of the largest in the world among others that specialize in exploration and production of energy. Talos Energy, Inc. would be symbolized as “TALO” in the New York Stock Exchange. The common shares that were due to the Talos shareholders were estimated to be about 34.2 million. According to the merging deal, 63% ownership of the new company will belong to the Talos shareholders while the remaining 37% will be for the Stone shareholders.
When the discussion for the merging was initiated in late last year, the stock price for the Stone shares was at $35.49. The large new firm would be valued at $2.5 billion. One of the objectives of the new organization would be to diversify the assets and increasing the wealth of its stakeholders.
Stone Energy’s Chairman, Neal P. Goldman, expressed his excitement about the merger and disclosed that it was part of the firm’s strategic plans. According to him, the shareholders will benefit a lot from the move. On the other hand, the Talos Chief Executive Officer revealed that one of the areas that the new firm would focus on was the maximization of capital efficiency.
The management at Talos has always implemented policies that were aimed at improving the welfare of the workers, and for that reason, the company has been ranked as one of the best working places in Houston for two consecutive years.
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