Oil and gas is an important part of modern day life. Everything from vehicles to homes to recreational vehicles depends on this resource to survive, and the need for gasoline doesn’t seem to be slowing down any time soon.
Talos Energy is just one of the hundreds of oil producers who make sure people have the necessary goods they require. Recently, Talos Energy took extra steps to ensure growth, profit, and greater exploration. The company merged with Stone Energy.
Both companies were exploring possibilities in the Gulf of Mexico. This is one of the primary reasons why the merger made sense. The merger creates the possibility of greater exploration, exploitation, and production. The deal between Talos and Stone sets them up to become one of the premier E&Ps in the Gulf of Mexico.
The method to achieving success for Talos consists of purchasing under-valued assets and beginning exploration. They utilize accurate geophysical data to determine which assets they should buy and where they should drill.
Timothy Duncan, the CEO of Talos Energy, is happy with the merger, calling it a opportunity to bring capital to their investors and pursue other goals while still maintaining their focus off the Gulf of Mexico.
The merger brings Talos’ acre count up to 1.2 million, truly making them a force to be reckoned with in the Gulf of Mexico. The 2017 production numbers were impressive. 47,000 boe/d were created by Talos. The third quarter alone produced an average of 28,7000 boe/d.
More About Talos Energy
In addition to Timothy Duncan, Talos’ leadership team is made up of Gregory A. Beard, Christine Hommes, Robert M. Tichio, and many other knowledgeable minds. The company was founded in 2012 by Duncan after receiving a $600 million dollar investment from Apollo Golbal Management and Riverstone Holdings.
In the Summer of 2017, Talos Energy lucked out, discovering a formation that could house up to 1.4 billion barrels of crude oil. It is expected that 425 million barrels will be extracted from this formation.