Talos energy is a company that focuses primarily on exploration and production of old and gas in the Gulf of Mexico. It was founded in 2012 and has its headquarters in Greater Houston Area in Southern US.
According to information on their website, their strategy at the moment is to uses a seismic database to acquire, explore and exploit valuable resources which were initially thought to be unreachable. Proprietary reprocessing techniques will aid this exploration in addition to expertise and geophysical and geological experience of operating in the basin.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
Mergers and Expansion
Talos Energy has been experiencing tremendous growth over the years. One of the methods it has used for expansion is through mergers. The acquisition is one of the ways a company can grow in the E&P sector. By combining forces companies can utilize their assets to the maximum potential and hence be able to compete with global oil and gas companies.
Recently, the company acquired Whistler Energy II. Another milestone in international endeavors is the approval of its Zama Discovery appraisal program. This move has set the company as a significant player in the Oil and gas market due to their ability to capitalize on emerging opportunities. Whistler Energy was dealing with Bankruptcy issues before the acquisition. As part of the deal, Talos negotiated the release of approximately $77 million collateral cash which was security to whistler’s surety Bonds. It also completed the acquisition for $52 purchase price. From the whistler acquisition, tales acquired 100% working assets in newly acquired assets in three blocks Green Canyon 18, Ewing bank 988 and Green Canyon 60.
In May Talos merged with Stone Energy Corporation. This strategic move enabled it to offer stock to the public through having to incur the cost of an initial public offering. It is now publicly traded company. This development, also known as reverse IPO is a personal achievement to the company leadership.
Talos has received recognition for it’s its continuous growth. It was named number one workplace for companies under 150 employees. The company Chief Executive Officer Tim Duncan was named EY Entrepreneur of the Year for the Energy sector In Gulf Coast. It has annual revenue of $815.5 Million. Currently, the company is focused on exploratory drilling in Zama¬-1 field which is located in the Gulf of Mexico and aims at achieving initial production in 2022.
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