How Talos’s CEO arranged for the Acquisition of Stone Energy. The aftermath of Hurricane Harvey’s rendered the north of Houston impassable for two days after floods were experienced in most parts of Kingwood, Texas. Duncan who is a 45-year-old CEO of Talos Energy had been in the scene when it first happened and reports about the second six feet hurricane that was on the way had him wade through the floods for safety. The level of the water was on his waistline where he waded to help his wife, son, and their two dogs onto the FEMA rescue boat.
Moreover, months before this ordeal, Duncan had been arranging on getting the Talos Energy Company to merge with the Stone Energy company, a deal which amounted to $2.5 billion. The acquisition was risky as the Stone Energy was a troubled company that was bankrupt and publicly traded. Nonetheless, Duncan knew too well that the hurricane was no excuse to have him postpone the deal where he took action by flying with his family using a private jet to his parents’ home in Alabama, Texas. Besides, his works bore fruit in May when the transaction was closed after staying late at night working from his mother’s dining table for weeks trying to negotiate the deal and more
Further, with the completion of the transaction saw Talos energy adopting Stone listings with the new ticker symbol as TALO. Also, the Stone Energy’s revenue, which had an annual turnover of over $900 million led to Talos energy’s assets expansion in the Gulf of Mexico. Today, the Talos company pumps 16,000 barrels per day from its Phoenix Field that was formerly called the Typhoon Field into a ship known as the Helix Producer. Better still, Talos would benefit from Stone’s platform known as Pompano that it had initially acquired for $200 million from BP.
About Talos Energy Company
The Talos Energy is an independent firm that deals with the production and exploration of oil and gas in Houston, Texas. The company’s management team has a wealth of knowledge and experience in the offshore exploration and production of oil after decades of operations in the deep-water assets around the Gulf of Mexico. In additon, the Talos energy has previously been involved in two successful transactions of selling Phoenix Exploration Co. and Gryphon Exploration Co. that gave them high returns, thus its success in oil and gas production.