Talos Energy is an oil drilling company that recently merged with Stone Energy. The result was increased, growth, production, and synergy. The merger has been in the works for months, and as of May 10, the deal is official.
“This is a transformational combination,” said Timothy Duncan, the CEO of Talos Energy. “Shareholders will greatly beenfit from out increased scale and liquidity.”
Talos Energy has an expansive portfolio, and with the merger of Stone Energy, they have enabled themselves to further pursue these ventures. Talos Enegy is still focusing on the Gulf of Mexico; however, the increased capital will enable them to seek other opportunities without sacrificing production value in Mexico’s Gulf.
“We deeply appreciate the efforts of everyone involved in getting us to this point,” said Duncan.
Talos Energy has set themselves up to be one of the premier E&Ps in the entire Gulf. They already have a portfolio worth nearly $2.5 billion dollars, and the deal with Stone Energy will only enable them to grow further. Now, including the land owned by Stone Energy, Talos energy has a total of 1.2 million combined acres.
About Talos Energy
Founded in 2012 by Timothy Duncan, Talos Energy has grown to become on of the most prominent oil drillers in the Gulf of Mexico. Specializing in purchasing unexplored areas of the Gulf, Talos was able to benefit from a formation which is believed to house 1.4 billion to 2 billion barrels of crude oil. It is estimated that 425 million barrels of this oil will be able to be extracted from the sea.
Along with Timothy Duncan, Gregory A. Beard, Neal P. Goldman, Charles M. Sledge and many other well-educated businessmen make up the Board of Directors at Talos Energy.
After the merger, the investors of Talos Energy remained in majority control of the company; however, the people over at Stone Energy are benefiting from the merger as well.