Talos Energy Emerges From The U.S. Gulf Of Mexico

Talos Energy is an unconventional gas and oil organization led by a highly experienced team of managers working in offshore exploration as well as production. The organization has a steady track record of maintaining its positive results. The company successfully established and sold Gryphon Exploration Company and Phoenix Exploration Company, two Gulf of Mexico gas and oil companies.

On Thursday, Talos Energy became a public organization following the closure of a merger costing almost $2 billion with Stone Energy from Louisiana. The transaction produced a greater offshore energy participant focusing on the Gulf of Mexico and the United States. Talos, the private equity-backed company, went independent by purchasing greater shares in Stone, a public trading organization.

This young Houston-based company started trading in New York Exchange with the ticker TALO. Timothy Duncan, the Chief Executive Officer and President of this organization, called the merger a transformational combination. It is a 63 – 37 percent type of sharing in the new organization with Talos backers owning the majority while Stone shareholders got the later.

Duncan mentioned during the announcement that Talos Energy is exceptionally placed to maximize on its high-quality asset and returns focused programs in offshore Mexico and the United States Gulf of Mexico. It is also to take advantage of possible opportunities that may develop following the transaction.

The establishment of this organization took place six years ago with its intentions being on the Gulf with the monetary backing of important private equity organizations the Riverstone Holdings and the Apollo Global Management. The initial plan was to make Talos Energy public in 2014/ 2015 utilizing an IPO, but the fateful oil bust drowned those ideas up to now.

The organization got lucky with Zama discovery last summer after the organization won some of the initial offshore bids with various partners in Mexico’s energy transformation process which opened oceanic barriers to foreign investors. Zama is the crucial initial discovery in the region’s deregulation processes. Stone Energy had been operating from Lafayette for over two decades, but later in 2016 filed for bankruptcy protection during the fall of oil prices and reemerging last year.

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