Talos Energy LLC, a Houston-based energy company will soon acquire Stone Energy Corp. from Lafayette, Lousiana. The merging was valued to be at $1.9 billion, based on a press release. The combination of the company will be named Talos, Energy, Inc. They will be trading on the New York Stock Exchange representing the symbol “TALO.”
The closure of the deal is expected in 2019, during the first quarter or the early part of the second quarter.
According to Timothy Duncan, Talos Energy CEO, the merging of the two companies is a crucial step in Talos’ goal to become a prime offshore production and exploration company. He added that the merging of talents, resources, and even the balance sheet of Stone Energy and Talos will move them towards progress in many projects and will allow them to become more efficient in exploration ventures.
Upon the closure of the deal, all Talos stakeholders will have 63% of the company equity, while Stone Energy stakeholders will be having the 37%, according to the press release. The initial market capitalization is valued at $1.9 billion amounting to an enterprise value of $2.5 billion. Stone’s stock price was valued at $35.49 per share during November of 2017.
Additionally, Talos Energy will be owning 1.2 million combined acres located in the Gulf of Mexico, which is able to produce 47,000 barrels of oil as well as 136 million proved reserves on June 30.
About Talos Energy
Talos Energy is a known Texas-based independent oil and gas company. Their organization mainly focuses on offshore explorations and energy production. Their expertise involves being able to acquire land and energy assets located in the Gulf of Mexico or Gulf Coast regions, with the goal to optimize assets and explore more energy-producing opportunities. Talos Energy aims for growth, and they are using modern seismic technology to acquire high-quality gas and oil. Their company is also geared towards becoming a powerhouse of smart energy that can supply more users over time.
Talos Energy is powered by innovative ideas. They also focus on implementing projects which are results-driven. They are open to dynamic, collaborative and entrepreneurial ideas for individuals who are willing to bring something new to the table. Their company encourages all individuals to share ideas and to help their system improve and promote value for all their stakeholders. According to employees, Talos Energy is a great company to work with. It is currently ranked as one of the best workplaces in the Houston Chronicle Top Workplace for five consecutive years.