Talos Energy is an independent company that deals with oil and gas production along the gulf of Mexico. The organization is headed by Tim Duncan who founded the company in 2012 using the equity funding worth $ 600 million from the Apollo and Riverstone Company. Tim Duncan had started his career in the oil industry at the Zilkha Energy in 1996, where during his time there, Selim Zilkha had foreseen the seismic imaging revolutions that are used to date. The revolution helped geologists to drill to over 6 miles underground to the oil- laden rock before the company was sold in 1997 at $1.2 million, which intrigued Duncan about the business as he was still a young engineer.
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
How Tim Duncan Helped Talos Energy Acquire the Stone Energy
Tim Duncan closed the deal of acquiring the Stone Energy Company during a difficult time in his life as he was affected by the hurricane Harvey. Duncan lived at Kingston, Texas, located in the north of Houston where the residents of the Kingston had to move when they were warned that another 6 feet hurricane was about to hit the place. Duncan helped his family and two dogs wade through the waters into the FEMA rescue boat before flying them to Alabama using a private jet to his parents’ home. What’s more, he flew to stay with his parents because he knew too well it that despite the hurricane that hit Houston there would be no excuse of not closing the deal of acquiring Stone Energy as he was in the middle of the negotiations.
Further, his hard work bore fruits when Stone Energy merged with Talos Energy merge at cost of $ 2.5 billion. Again, this saw the company take up Stone Energy’s new ticker symbol as “TALO” where the annual revenue increased to $900 million. Equally important, with the merging of the company has seen the increase of production to 48,000 barrels daily, where it is still set to increase. So far, its largest reservoir in terms of asset base is their Phoenix field located at the south of New Orleans that was established by Chevron. Additionally, though Hurricane Rita had destroyed an estimated 13,000-ton Typhoon that was drifted over 60 miles, Talos was able to restore the field where it now pumps 16,000 barrels per day besides acquiring the Pompano platform from Stone Energy.
Talos Energy’s Facebook Page.