Talos Energy is a energy company that is really making a difference in the Gulf of Mexico area. Recently, Mexico’s National Hydrocarbons Commission, or CNH, allowed Talos to conduct a discovery appraisal of the Zama-1 field in Gulf of Mexico; this discovery and development approval is a landmark accomplishment for the company internationally. This was especially true because of Mexico’s history in oil production. Originally, only a Mexican major company Pemex was allowed to develop this area; but because Mexico was able to see that Pemex couldn’t keep up to major companies such as Exxon, Chevron, and Shell, in 2014, it allowed it’s oil and gas fields to be developed by private energy companies. Mexico sold rights to their Zama oil field to Talos in 2015.
Talos Energy went on to discover a major oil deposit in their recently acquired Zama Field in 2017; its estimated oil production rate was about 1.4 to 2 billion barrels of oil, an acheivement for which they recieved The Discovery of the Year 2017 at Wood Mckenzie’s annual exploration awards ceremony. This was a major accomplishment for Talos Energy.
Following this, Talos applied for drilling permits in 2018 and is expecting the go-ahead from CNH in mid 2019. Tim Duncan, Talos Energy’s CEO, commented that his company was buiding a reputation for intuitive growth. He was referring to Talos’ acquistion of two companies, Stone Energy Corporation, in 2018, and Whistler Energy 2. He was also referring to Talos acquiring 16,494 acres of oil field, known as the Green Canyon 18 Field, whose typical oil production rate was 30,000 barrels a day and 30 million cubic feet of gas per day. This field was originally worked by Exxon then later acquired by Whistler Energy.
In 2013, The Houston Chronicle cited Talos Energy, a Houston based company, as the #1 Top Workplace in Houston for businesses that are staffed by less than 150 people. It has stayed at #1 for 5 years, much to its credit. Talos’ CEO, Tim Duncan, was named Entrepreneur of the Year of energy companies in the Gulf Coast area, His company continues to build and grow as a promising oil and gas company of the future.
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Recently, Talos Energy announced that they will be the recipients of 2018’s No. 1 small company to work for in Houston, which is presented by WorkplaceDynamics. CEO of Talos Energy Tim Duncan commented on the announcement saying that this was possible not because of weekday happy hour or motivational speeches, but by the fact that the company runs as a team and every member of Talos feels like their work matters in the final outcome of the company. Their method of doing business comes to no surprise as the company is known to hold an internal entrepreneurial spirit amongst their employees and the ventures taken by the company.
Talos Energy has had to overcome a lot of obstacles these past few years, from sinking oil prices to having to move many of their assets into more risky areas of the globe, Talos Energy fought its way through and has come out a big winner in the oil industry. CEO Tim Duncan attributes much of this success to his staff and employees, the comments on the fact they progress in a sort of boat manner in which everyone steps in and rows together, whether the boat sinks or floats is determined by everyone. With over 120 employees on their payroll, Talos Energy does not offer the best pay or greatest benefits, however, what it does offer its employees is meaningful work. Tim Duncan adds to his statement pertaining to the award, that when he gets emails for potential projects or other types of opportunities, those emails are shared with the employees of Talos, why? Because Duncan wants them all to know that he is always working hard to be able to make them and the company money. There is no doubt that Talos Energy seems to provide some of the best working environments for employees.
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One of the biggest accomplishments in the career of Tim Duncan has been a monumental acquisition/merger with Stone Energy that has allowed the Talos Energy CEO to take his company public while foregoing the traditional IPO. Duncan will now head up a stronger than ever exploratory energy firm that will go into the publically traded sphere with equity market capitalization in the initial range of nearly $2 billion. Talos Energy Inc. is also going to power into the publically traded listings with a $2.5 billion enterprise value. This is calculated based on the stock price that Stone Energy Corporation was valued at. This was a price of nearly $33.50.
Talos Energy makes its headquarters home in the well-known Texas city of Houston and Tim Duncan and his team are very happy about the great benefits that shareholders now gain due to this merger. This also places Talos Energy in an ideal position to take advantage of the impressive assets that the company currently holds in its portfolio. A major area that the firm is now concentrating on in terms of exploratory work is the Gulf of Mexico region, both in U.S. territory and Mexican territory. There are also exciting recent talks that Talos Energy and a conglomerate it is currently spearheading will team up with Mexico’s national oil firm Pemex.
One of the factors driving the success at Talos Energy is the fact that it has developed such an outstanding reputation as a company to work for and has been recognized as such for the past five years running now. Talos Energy offers dedicated individuals the ability to work in careers such as exploration and production as well as providing opportunities within the corporate leadership structure of the constantly growing firm. Tim Duncan is very proud of the great company atmosphere that himself and his team have been able to build up over the years at Talos Energy.
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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