Talos Energy has a rich history of success since its inception back in the year 2012. During the time of establishment, Timoty Duncan, founder of Tallos Energy LLC, raised $600 million worth of equity from Apollo Global Management and Riverstone Holdings, to invest in Talos Energy. Talos Energy has had a fair share of success in the recent years. The company has invested in various projects and has set a great development plan, which has seen it receive multiple permits and licenses intended to increase production.
One of the breakthroughs that the company has experienced is that last month Talos Energy was issued with approval by the Mexican oil and gas regulator and the National Hydrocarbons Commission. The permissions are to stamp the plan to proceed with oil exploration and drilling in the recent Zama oil discovery.
The drilling permits is an affirmation that the company is headed in the right direction in the oil industry. This approval is a significant boost to the recent acquisition of Whistler energy by Talos. The company spent $100 million, which were paid in separate transactions. The CEO of Talos Energy Mr. Duncan expressed his excitement when revealing the details about the merge. He said that they had set plans to expand their Green Canyon project by exploring opportunities in the Green Canyon 18 Field.
From the acquisition of Whistler Energy, Talos achieved a 100% control over Green canyon 60, central Gulf of Mexico Green Canyon 18 and the leading Ewing bank 988. This means that the company has doubled its assets from the acquired Whistler Energy assets. It is great progress for the merge as the combined assets began trading on the New York Stock Exchange (NYSE).
Chief Executive Officer Duncan in a press brief said that the merger would greatly benefit shareholders due to the increase in the company’s scale and liquidity. The portfolio of Talos has expanded as they plan to invest heavily in the US Gulf of Mexico and offshore Mexico’s Projects. This success can be attributed to the efforts of all team players and the loyal employees of the New merge.
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