Talos Energy’s Rising Star
Founded in 2012 by Tim Duncan with a $600 million dollar sum from funding by Apollo and Riverstone, Talos Energy has been making a name for itself in the Gulf of Mexico and surrounding waters when they first started drilling in the Zama-1 well inside the Sureste basin. This drilling operation was with the cooperation of the Mexican government and two partner companies (Premier Oil, London, England and Sierra Oil & Gas, Mexico) as the first well drilled by a private oil company outside of the country of Mexico in decades.
After a successful drilling campaign, Talos has begun making several more oil discoveries in the Zama area and have been making appraisals for a Zama-2 well. Talos Energy has been resisting the urge to follow popular consensus and move their oil drilling to shallower waters in the Permian Basin area. Instead, Talos Energy has been focusing on some shorter, more profitable drilling assignments. Talos just acquired the equipment to perform deep water scans and drilling in the gulf and will be exploring the opportunity to perform some longer, deep well projects.
In addition to continued projects in the Gulf and surrounding areas, Talos continues to make wise acquisition choices. Recently, Talos Energy merged with Stone Energy Corporation, offering Talos something they have been wanting: a place at the public trading table. The NYSE moniker will be TALO. Talos gained a bigger level of funds with this merger. The combined companies have a $600 million dollar line of new credit (half of that immediately available) and the eventual liquidity of $450 million dollars ($150 million instantly available).
Talos Energy is slowly growing into a trusted oil company who proves that they put in the work to offer consistent results. To read more about the work that Talos Energy performs, or their new merger please click here.