Talos Energy Completes Strategic Merger Despite Dire Circumstances

Tim Duncan could only watch helplessly a year ago when his Kingwood, Texas neighborhood was completely flooded by the devastating effects of Hurricane Harvey. Once night approached, and with no power, Duncan was forced to travel on foot through waist-high flood waters to make sure his wife Christy, the couple’s six-year-old son, and the two family dogs reached the safety of a waiting FEMA boat. Duncan is the chief executive officer of Talos Energy and had just spent the last four months of his working life in negotiations to orchestrate a $2.5 billion merger with the publicly traded Stone Energy. Many in the industry thought the attempted move by Tim Duncan to be a risky play for his privately held company as Stone Energy was nearly as large as Talos and more and at the time bankrupt.

The move made perfect sense to Duncan as the merger would allow Talos to go public while foregoing the need to execute a public offering. He was determined that not even an act of nature would get in the way of his goals for the company. Tim Duncan was able to travel along with his family to Alabama due to a favor owed to him by an associate with a private plane. He then returned to the home of his parents home in Houston, which was on higher ground than his own and had fared better in the storm, and set up business operations in their kitchen.The efforts of Tim Duncan proved successful and the completed merger resulted in the business executive now ruling over a natural oil company that boasts of $900 million a year in revenue. The majority of assets owned by Talos are located in the Gulf of Mexico and the promising balance sheet possessed by the company includes $2.3 billion in assets to go along with only $700 million in debt.

About Talos Energy

Talos Energy is an oil and gas company operating independently in the Gulf region that benefits from a team of skilled managers with many years of experience in the exploration and production of offshore oil sources.