Talos Energy is an independent oil and gas company founded in 2012. It specializes in the exploration of hydrocarbons in the US Gulf of Mexico and offshore Mexico and production services. The company’s headquarters is in Houston, Texas.
The company also participates in business development involving JV’s and farm-ins. Timothy Duncan, the CEO and President of the company founded Talos Energy, with a $600 million equity raise from Riverstone Holdings and Apollo Global Management.
Earlier this year in May, Talos Energy Inc. merged with Stone Energy Corporation into Talos Energy. This amalgamation created a lot of heat in the energy industry as the two oil and gas companies have a history of instinctive asset management and strategic development.
The CEO, Tim Duncan, commented on the merger saying that it is a transformative fusion where shareholders will benefit from the increased scale and liquidity. The oil and gas company is no stranger when it comes to transforming struggling assets as it was the case with Stone Energy.
From the merger, Talos Energy will see an increase in oil production of up to 47,000 barrels a day. Also, the company gets assets of oil reserves of 136 million barrels of oil. Once the merger is complete, Talos Energy is set to attain financial flexibility from a credit facility contract and a 450 million dollar liquidity.
Following an announcement in September 2018, Talos Energy acquired Whistler Energy II, a private company in a $52 million deal. Talos is set to acquire assets from the transaction which includes fixed production stage situated in Green Canyon Block 18 in 750 feet of water and a 100 percent working interest in three central Gulf of Mexico.
In 2017, Talos Energy was honored with the Discovery of the Year 2017” award. This was during the WoodMackenzie’s yearly exploration awards ceremony held in June. The oil and gas company was acknowledged for its Zama oil discovery offshore Mexico. Zama is the first exploration to be drilled in Mexico by the private sector.