Talos Energy is an offshore gas and oil company that recently became a public company through its merger with the Louisiana Stone Energy priced at 2 billion dollars. The main agenda of the deal is becoming a robust energy player with a central focus on the Gulf of the Mexican and the U.S side. Private equity firm of the Talos went public after it acquired a high percent of controlling interest in the Stone Company. The Stone Energy is publically traded company, and the merger has enabled Talos to automatically become listed in the Newyork Stocks Exchange as the TALO ticker.
Tim Duncan, the Talos Chief Executive Officer, presided over the deal calling it a great transformational combination. Talos owns a total of 63% and the rest of 37 percent being held by Stone Energy making a forced combination of assets, skills, and expertise. According to Duncan Talos is in a more significant position of capitalizing on the companies’ high-quality portfolio of assets and focus on the returns of capital programs. The company now has the opportunity of taking advantage of the potential development opportunities in offshore Mexico m the Gulf of Mexico and the U.S.
The Talos Energy began operation in 2012 having received financial backup from the Riverstone Holdings and the Apollo Global Management and focusing on offshore oil services on the Gulf. The Talos luck struck with the discovery of the Zama on the Mexico offshore after it won the bids with the partners of the Mexico energy reforms processes that helped in the opener of the blocked offshore foreign investors. The Zama became the country deregulation process first significant discovery.
Talos Energy is lead by a robust management team who has decades of skills in offshore producing and exploration with agenda of acquiring the shelf operated and deepwater assets development. The company core agenda is exploiting and also optimizing these assets using the latest techniques and the seismic technologies giving it a cutting edge success. The Stone Energy has over 20 years of operation out of the Lafayette, and in 2016 the company filed for bankruptcy protection amid the collapsing of the oil prices.
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