As far as the top oil and gas companies that are located in the Gulf Coast are concerned, you would be hard pressed to find one that is better positioned for future success. The company has been making major strides since its inception back in 2012 and founder/CEO Timothy Duncan is about to take Talos Energy public for the first time.
Now that exploratory drilling is taking place in Mexico (where new energy regulations are being enacted), the time to strike is now. The drilling that is currently happening below the border could yield well over 400 million barrels of crude oil.
Stone Energy is also going to be brought into the fold. Talos Energy will be merging with the company and providing them with the assistance that they need in the wake of their recent bankruptcy filing. Thanks to this merger, Stone Energy can now take on the restructuring process without experiencing any of the typical difficulties.
Once the deal is closed, the companies will also be making their way onto the New York Stock Exchange. The company’s ticker symbol is going to be TALO and trading is expected to be quite robust. Timothy Duncan’s primary objective is to push the company forward and provide them with the infrastructure needed to achieve all of their goals.
When it comes to offshore exploration and production, Duncan imagines a future where Talos Energy Inc. is the premier company in this regard. There is a staggering amount of talent and resources under the same roof and this will make it even easier for the company to achieve any objective that has been set.
With the acquisition of Stone Energy, Talos Energy Inc. is slated to receive a much larger line of credit and this line of credit is going to allow for the project pipeline to be cleared out more quickly. No more long waits. Efficiency is now the name of the game.
Duncan is now assuming the CEO role and the shareholders board is going to be divided according to the number of shares that each side of the company has. Talos will maintain 63 percent of the total shares and Stone Energy is going to assume 37 percent ownership.
From there, the board will be divided between six Talos members and four Stone Energy representatives. As Mexico continues to reform its own energy industry (with the help of Talos), this connection is going to allow the company to benefit almost as much as the consumer.