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Talos Energy Rises Against All Odds

July 13, 2018 by Tagged with:
Posted in: Business NewsTalos Energy

Talos Energy LLC is a gas and oil company that expertise in the production and development and exploration of oil and gas properties in the Gulf of Mexico and in other Gulf Coast. The company was initially founded by Timothy Duncan in the year 2012. He has raised an equity value of $600 million from Apollo Global Management and another investment firm Riverstone Holding of San Antonio. The company has its headquarters based in Houston, Texas. Timothy Duncan is the former CEO and president of the company. Duncan had to go through a difficult and challenging process for making Talos Energy the successful company that it is today. He had to literally pass a time of flood and storm which had become a cause of obstruction for the listing and merger process of Talos with Stone Energy which was a public company but the only drawback was that it was bankrupt. Acquiring such a big company that was going through financial troubles was a big and risky decision that Duncan had taken.

Finally after a lot of hassle, Duncan had taken over the merger with Stone Energy. Talos Energy was to officially take over the shares of Stone Energy’s listings in the month of May. Duncan estimated it to be a huge turnover for the company as it would gain him an annual return and revenue of about $900 million. As a result all the assets of Talos Energy would be within the Gulf of Mexico. The company’s balance sheet was at a low point of risk with a debt of $700 million against assets of about $2.3 billion. I barely offset the huge risk of operation of extraction process as the country was going through some natural challenges of flood and the cost of digging and drilling in that water would be millpond of dollars.

Duncan believed however that he could go pass all the odds. He was confident and came up with the process of using hydraulic fracturing, a new technology, that could be used for the old fashioned reservoirs. Talos took the bet and is now currently producing 48000 barrels on a single day and hopes to achieve a lot more in the coming future.

To know more visit @ twitter.com/talosenergyllc