Talos Energy is a privately owned oil and gas company that is managed by a team of well skilled and experienced professionals in offshore exploration and production. It was founded by Timothy Duncan in 2012, with an equity raise of $600-million from River stone Holdings and Apollo Global Management. The company specializes in the acquisition of operated shelf and developed deep-water assets in the Gulf of Mexico, which it explores, exploits and optimizes using the most advanced seismic technologies. The company comprises a team of professionals who work closely and have been together for over a decade. The team has an amazing track record of performance, with several positive results to show.
Before Talos Energy Company was formed in 2012, the same team working in the energy company had built and sold two Gulf of Mexico oil and gas companies namely Gryphon Exploration Co. and Phoenix Exploration Co. both of these companies had already delivered great returns to all the investors.
Timothy Duncan, the 45-year old Talos Energy Chief Executive Officer, is popular for making the most out of very tough situations. He is the main person behind the success story of this company. He has his biggest asset, the Phoenix field, about 165 miles south of New Orleans. The last few months, Duncan has been organizing one of the biggest mergers Talos Energy will ever have with Stone Energy Company. The $2.5 billion merger was a major opportunity for his company to become a public entity without running through the expense of public offering. The months have been tough, but the completion of the merger happened in May this year. Talos has now taken over Stone’s listing, and Duncan will be presiding over the oil company with annual revenue of about $900 million.
A few months after this major merger, Talos Energy is already announcing the acquisition of Whistler Energy II. The purchase price was set at $52 million and will be part of the acquisition. This will be a significant gain for both Talos and Whistler, with the seller getting approximate of $100 million in cash, with the buyer only paying $14 million.
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