Talos Energy Continues To Grow Through A Merger And An Acquisition

Talos Energy, Inc. is an oil and gas firm based out of Houston, Texas. They operate along the Gulf Coast and in the Gulf of Mexico where they explore for oil & gas and then pump it to the surface. They have a huge seismic database that they use to figure out where to explore as well as proprietary reprocessing techniques.

They were named one of Houston’s Top Work Places in 2013, 2014, 2015, and 2016 by WorkplaceDynamics. Talos Energy’s Chief Executive Officer Tim Duncan says that they earned these designations not through offering things to their employees like an on-site day care center or happy hours on Fridays. Instead, when they were still a privately held company, they gave each employee a stake in the company in the form of equity. This encourages everyone to work hard and row in the same direction.

Talos Energy is now a publically held company. How this happened was not through an initial public offering, though. Instead, CEO Tim Duncan spent months working on a deal to merge with Stone Energy Corporation. which had been a bankrupt publically traded firm. Once this $2 billion deal was consummated Talos Energy started trading on the New York Stock Exchange under the ticker symbol TALO. Tim Duncan said that this deal left his company well-positioned in regards to increased scale and liquidity. He was looking forward to creating further business development plans in the future.

Talos Energy expanded a second time in September 2018 when they acquired another gas & oil firm, Whistler Energy II, LLC. This deal was worth $52 million. Whistler Energy had been producing 1,900 barrels of oil a day throughout 2018. Talos Energy now has 100% of their assets which are located in three Central Gulf of Mexico blocks. These are Ewing Bank 988, Green Canyon 60, and Green Canyon 18. They also acquired a fixed production platform from this deal with is in the Green Canyon Block 18. Tim Duncan said that his company acquired blocks that are in a known hydrocarbon prolific area.

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