Talos Energy’s Investment Plan in Mexico:
Talos Energy Inc. is geared towards providing production and exploration of resources. The company seeks to explore, exploit and acquire the Gulf Coast region and the Mexican Gulf. The gas and oil company has a considerable management team that specializes in offshore manufacturing and discovery. It has an outstanding track record that exhibits impressive positive results. The company has in the past engaged in building and selling Gryphon Exploration Co., and Phoenix Exploration Co that have delivered great returns to equity investors. The CEO of Talos Energy, Tim Duncan has been on the forefront of procuring deals on behalf of the company. He was responsible for orchestrating a merger of over 2 million dollars with the company called Stone Energy. The deal will deter Talos chances of undergoing a public offering and becoming a public entity.
Once the merger is completed, Talos will be able to take charge of Stone’s listing and Tim Duncan will be responsible for presiding over $900 million of annual revenue. Additionally, Talo’s acquisitions will be safely kept in the Mexican Gulf. Since the company is able to drill 48, 000 barrels of oil daily, branching to Mexico will increase its supply. New Orleans is home to the Phoenix or Typhoon field that is regarded as Talo’s biggest asset. The company manages to drill about 16,000 barrels from Phoenix each day into Helix Producer, which is a unique ship. The biggest investment for Talos Energy once they inherit Stone will be accessing the Pompano Platform that was bought from BP at a cost of $200 million that comes with new drilling prospects.
About Tim Duncan:
Tim Duncan began his career in the oil industry in 1996 by working with Zilkha Energy. He went on to help launch Gryphon Explorations in 2000 that helped to drill new wells. He co-founded Phoenix Exploration in 2006 that was eventually sold to Apache Corp. Talos was founded in 2012 with equity funding of about $600 million obtained from Apollo and Riverstone. Talos venture into the Gulf of Mexico promises to be successful only time will tell of how many barrels the company will be able to drill.