Talos Energy is a bold oil company that has been known to take great risks despite the challenges the industry faces. Tim Duncan who founded the company in 2012 has led Talos to success with his determination to conduct mergers and acquisitions.
Duncan’s journey to the energy industry can be traced back to his father, who was also in the industry. However, it is in 1996 that Tim Duncan made his entry into the industry under the Zilkha Energy Company. Later in 1997, the company changed ownership for $1.2 billion. Duncan never gave up on the industry. He participated in the launch of Gryphon Exploration in 2000, and in 2006 he became a cofounder to the Phoenix Exploration company. Both companies were a success. Woodside Petroleum acquired Gryphon and Phoenix Exploration was sold to Apache Corp. in 2011.
Apollo and River stone played a vital role in the establishment of Talos in 2012 through a $600 million equity funding. A year later, Talos Energy acquired the Phoenix Field for $620 million. This would prove a hard bargain as the market crashed. This did not affect Talos Energy as it continued fighting these challenges.
Amid Hurricane Harvey, Duncan who is now Talos chief executive was involved in a $2.5 billion merger with Stone energy. Stone Energy Company faced bankruptcy, and this was risky for Talos as it would trade without public offering expenses. The $900 million annual revenue from Stone energy and the 48000 barriers it can produce daily will be part of Talos assets.
Talos Energy has taken over the Gulf of Mexico by being the first private company to be part of oil drilling in Mexico. The company has partnered with Mexico’s Sierra oil and Gas together with Premier Oil Plc. London. These companies are actively invested in the Zama-1 well which records up to 500 million barrels.
Talos Energy has continued to explore, develop and produce oil and natural gas. Currently, its operations are at the Gulf of Mexico and the gulf coast. The company went public late 2017 and has since raised some money for further development. Tim Duncan and his team are taking Talos Company beyond the borders, and its development is on the spotlight especially with the risky measures they undertake.
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