Talos Energy Inc. is a technology driven private for-profit oil and gas exploration and Production Company that was founded on Jan 1, 2012. The company is headquartered in Houston Texas and has operations in the US Gulf of Mexico and the coast of Mexico. Talos energy boasts of a highly experienced management team with decades of experience in oil and gas offshore exploration and production. Talos energy as part of their strategy aims at fully acquiring and exploiting the Gulf of Mexico and Gulf coast by capitalizing on the firm’s deep geological, geophysical and operating experience. Talos is more focused on innovation in production and exploration sector with the goal of recovering valuable resources that were considered unreachable.
Talos Energy has made a lot of accomplishment in the oil and gas industry. One significant achievement the company has made recently is the acquisition of Whistler Energy II. Talos entered into an acquisition deal with Whistler Energy II, LLC on August 31, 2018. Whistlers total gross production year to date stood at about 1,900 barrels of oil equivalent per day, and a net of around 1500 barrels most of which is oil which accounts for approximately 82%. The acquisition deal was worth 52 million dollars. As part of the agreement, Talos negotiated the release of around 77 million dollars cash that was held as collateral for Whistler surety bonds. Talos from the collateral received a total of 31 million dollars, and Whistler bagged the rest 46 million dollars. Besides the Collateral cash, Talos was also to benefit from the cash balance at Whistler’s account by close of business which stood at 7 million dollars. The deal was a win-win situation for both Talos and Whistler as at the end of the day Talos acquired Whistler at 14 million dollars down from 52 million dollars and Whistler ended up with approximately 100 million dollars, 48 million dollars on top of the original 52 million dollars.
Another milestone achievement for Talos Energy was the recent merger with Stone Energy Corporation. The 2 billion dollars merger will see Talos energy stakeholders owning 63% of the combined company while Stone Energy Shareholders will hold the rest 37%. In a statement, Talos energy CEO Tim Duncan said the merger was significant to the shareholders as they will benefit from increased scale and liquidity.
To Learn More Click Here