Category Archives: Energy

Talos Energy Oil & Gas Company

Talos Energy is an oil and gas company that dedicates its business to production and offshore exploration. It is an independent oil and gas company based on obtaining assets around and in the regions of the Gulf of Mexico and Gulf Coast. Talos Energy emphasizes exploitation, asset optimization and exploration.

They have a strategy and operating experience on the geophysical and ecological aspects in these Gulf regions. The goal of Talos is to obtain, explore and exploit the basin by using large propriety reprocessing methods and seismic database. This will enable them to improve performance on production of workover and recompletion projects. It will also increase their recovery of hydrocarbons using special completion methods and drilling. Talos will then be able to commit to achieving environmental compliance, safety and health in their business operations.

Working at Talos Energy is considered to be a top place to be employed. It offers job opportunities in production, exploration and corporate disciplines. They offer their employees flexible work schedules, benefits that are competitive, advancement opportunities, and other ways to improve a work and life balance. Talos Energy was ranked among the Top Workplaces in Houston from 2013 to 2017.

Talos Energy is able to ensure responsible development in the Gulf region. Back in 2014, Mexico had undergone a huge reform in energy. When privatization of markets and national assets lend itself to an increase in production and efficient companies the nationalization proponents complain that companies will exploit their power of being a monopoly. This can lead to ignoring the communities social welfare that they are intended to serve.

When the hindsight benefits were then available to Talos, by Mexico opening oil fields, it has provided an advantageous outcome of production and efficiency. Talos made the move to Zama 1 down South. It required an intensive look at their weaknesses as well as their strengths. Once this decision was made to become international, fracking was becoming used more and they had to ignore gains that were short-term to do their off-shore E and P.

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The Growth And Expansion Of Talos Energy

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.

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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HThe Block 7 Consortium Is Developing Deep And Shallow Water Assets That Bring High Impacts In The Emerging Basins

Talos Energy, Premier Oil and Sierra Gas and Oil have signed a PUA or Pre-Unitization Agreement that are in relation to the contiguous Block 7 and Pemex that have a current contract to share productions. The Mexico Southeast Basin contain both of these offshore areas.

According to the new regulatory and legal revamped framework, this is the first pre-unitization agreement that has ever been signed in Mexico. This agreement is good for two years and actually enables the parties to share information that relates to Zama discovery and the Pemex’s extension for the neighboring block. This agreement sets a clear path for the Unit Agreement and Operating Unit Agreements to be signed so that a reservoir may be confirmed. This establishes a process that defines international practices so the results can determine each party’s participation for the potential developments overall.

Both parties agreements will result in the Working Group to be immediately formed. This agreement will maximize the informational and operational efficiencies which define the group’s activities for reducing any potential hazards, and the collection of area data. This will all benefit Mexico. The technical and legal representatives will be comprised by the company’s members

The Ministry off Energy or SENER has previously approved the PUA or The Pre-Unitization Agreement.
Mexico largest company is Pemex. The entire chain actually operates through the industries such as production and exploration -upstream-to the transformations of industrial logistics and downstream marketing.
Sierra Gas and Oil actually owns about 40% of the Block 7 Consortium. Premier Oil owns about 25% and the Talos Energy Company owns about 35% of the interest in the Block 7 Consortium.

A technically driven production and independent exploration company that operates in the Gulf of Mexico and the United States of America is Talos Energy. The company’s focus is to develop deepwater and shallow assets that are near the existing infrastructure. The coast of Mexico’s shallow waters provides the company with exploration impacts that are high in the emerging basins.

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Employee Empowerment Makes Talos Energy A Top Place To Work

Large oil and gas companies have a lot of advantages, the first of which would be a wide array of resources at their command. Large companies typically mean large money, meaning vast swaths of people and materials can be pointed at any project that’s such a company wishes to undertake. Disadvantages are abundant, too, however, especially when it comes to human resources. This is one area where Talos Energy shines, earning an award from Workplace Dynamics for having the best workplace in local small business.

Drawing on his experience as Senior Vice President of Business Development at the Phoenix Exploration Company, Tim Duncan has utilized the mid-level size of Talos Energy to leverage the best aspects of both large companies and small ones. Large enough to gobble up rivals and weild sizable resources, the company remains small enough to put its employees at the forefront.

Duncan, who started Talos Energy with two partners in 2012, had bosses and managers in early professional life which brought him up in environment which encouraged the speaking of his mind. The result was that he gained confidence, and saw the wisdom behind encouraging and listening to your employees. Workers then feel empowered and feel like they and management are going to “row the boat together”, as Duncan put it in an interview.

That openness extends to meetings, as well. Employees see their input add value to overall success of Talos Energy. It’s not limited to the bottom line, either. That value manifests itself as a higher level of safety practices and an increase in productivity. It goes back to the mid-level size of the company, as well: workers can see tangible results of their ideas which would get lost in an uber-large company. It promotes innovation and keeps ideas outside the box.

The only danger, considering the meteoric growth of the company over the last few years, and the acquisition of a considerable number of its Gulf of Mexico competitors, is the inevitable growth into one of those big companies. For Tim Duncan and Talos Energy, there are worse problems to have.

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