Tim Duncan knows better than to waste time and resources on onshore oil fields; He would much rather take a chance on drilling more wells in the Gulf of Mexico and take a chance in the deep waters. In late 2017, Hurricane Harvey ripped through the city of Houston, Texas during the middle of a $2.5 billion merger negotiation that had already taken Tim months to advance as far as it was.
As the flood waters rose, Tim knew that he had to take his family to safety; Tim carted his wife, son, and pets to a FEMA rescue boat in the waist-high waters of his Kingwood neighborhood. Once they had found safety out of the flood, Tim Duncan and his family found refuge with his parents in their Houston home, which was luckily left high and dry. From his mother’s dining room table, Tim would continue bargaining for the public, yet failing, Stone Energy, until the deal wrapped up in his favor.
Now that the two companies could merge, Talos Energy would a public entity, without costing the public a dime. In May, stockholders would see a new ticker in the market, TALO, which would combine both of the companies. Though it may seem that taking on such a significant risk would be daunting, Tim was never known to shy away from a challenge. Stone energy came with a whopping $700 million debt but boasts a significant $2.3 billion in assets; Therefore, the possibilities for success are there, and with that, shareholders can find some comfort in Mr. Duncan’s work. Since the new company started drilling in the Gulf of Mexico, it has produced nearly 48,000 barrels of natural gas a day and anticipates that those numbers to climb rapidly in the future.
Now that this new challenge is on the climb to success, Tim can get back to a healthy life. After Harvey, the storm left Tim’s home in ruins, and so the house was knocked down to its studs, and even still, Mr. Duncan hold’s his head high and works diligently to produce and exploit natural gas and oil in the Gulf of Mexico.
Talos Energy’s Facebook Page.
Talos Energy, (TALOS) last May joined forces with Stone Energy Corporation to combine into “Talos Energy”. This resulted in making waves in the industry of production and industry. These two companies have a past of the factors of strategic development and intuitive asset management. This combination of the two companies let Talos Energy to go through publicity without the corresponding price of an initial public offering. Talos Energy, is located in Houston, Texas.
Talos Energy is bouncing back from 2015 when the oil price collapsed. Since then, there are recent developments that have viewed the oil price increase to more than $60 dollars for every gallon. Oil and gas companies form America are graced to assist the nation’s energy needs. This is as production of domestic crude oil got to in the end of 2017 a stable peak. Something else Talos Energy will see is an oil production moved up. This is an outcome of the merger also it is standing to make barrels of 47,000 each day. In addition, the merged company has in possession assets with manifested reserves amounting to 136 million barrels contain equivalents of oil. The merged company will also keep an amount of 1.2 million mixed gross acres in the Gulf of Mexico. This is with a rough estimate of 160,000 acres being off Mexico’s coast. It’s also important to note that in the merger’s finishing Talos made an announcement that it stepped into an opening Borrowing Base amounting to $600 million. This is where there is an available amount of $300.0 million. In addition the merger has a liquidity amounting to $450 million dollars which has an approximated amount of $150 million in their hands, related costs in net of transactions.
In a company of gas and oil that’s independent need’s the leadership of a CEO that thinks forward and energetic The CEO of Talos Energy company is Tim Duncan.. This CEO has made a choice to become still has placed Talos Energy which is a producer with promise in the Gulf Coast regions and the Gulf of Mexico.
To know more click: here.