Talos Energy is a Houston-based oil and energy company that has been making headlines all around the world thanks to their historic work off of the shallow-water of the Sureste basin located in Mexico’s national waters. Talos Energy was one of three companies that was granted a winning bid in order to drill in Mexico’s waters, the first time that a foreign company has been granted the request by Mexico’s nationalist energy production network. Talos Energy holds a 35% interest in the Zama 1 Well which is being touted as one of the biggest discoveries in offshore drilling in many years. With that kind of momentum and energy behind their work, it should surprise nobody that CEO Timothy Duncan is pushing forward with some major moves, including a huge merger with Stone Energy Corporation.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
It was announced that Stone Energy and Talos Energy would be merging following a unanimously approved vote from the Board of Directors at both companies. The all-stock transaction will help Talos Energy to continue pushing themselves into the upper echelon of offshore oil production companies in the world. Stone Energy and Talos Energy combined to produce roughly 47 thousand barrels of oil in 2017 and their reserves are Pro forma estimated at 136 million barrels. It’s easy to see that the combination of their efforts will lead to long-term growth for Talos Energy and their growth expectations are only fueled more by the recent discoveries of Rampart and Tornado II.
Once merged, Talos Energy and Stone Energy will seek to capitalize on their backlog of exploration prospects all across the Gulf of Mexico. As we stated above, Talos Energy made history by becoming the first foreign, private sector offshore drilling company to come into Mexico’s waters. The move set up Talos and Stone Energy for more profitable work throughout the region of which they have access to nearly 160,000 acres of coverage. Timothy Duncan has been loudly touting the benefits of the merger and he has good reason to be confident in his companies decision. With more projected growth in the coming years, Talos Energy is primed to become a premier offshore oil production and exploration team.
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