Talos Energy LLC is a highly experienced off-shore exploration and petroleum production company, based in Houston, Texas. Talos has many years of experience using state-of-the-art technology in the Gulf of Mexico. In fact, the company has a deep knowledge and expertise in oil and natural-gas exploration as well as extraction in the Gulf region. The years of experience have endowed the company with unparalleled knowledge, specifically in the Gulf of Mexico region.
Recently, Talos Energy merged with Stone Energy to create an oil exploration company that is slated to become a game changer of sorts. The new company will be traded on the New York Stock Exchange as “TALOS”. CEO Timothy Duncan has said that this merger will give shareholders an opportunity to invest in a company with great “scale and liquidity.” After the merger, the company is now known as Talos Energy Inc. Stone energy used to be headquartered in Lafayette, Louisiana and its primary area of interest were in the Appalachian basin and the Gulf of Mexico.
The primary reason for the significance of the merger between Talos and Stone Energy is the big increase in the acreage footprint available for exploration. The total amount has increased to 12 million acres. A portion of this is located offshore of Mexico. In fact, Talos Energy was involved in the Zama oil discovery, which was the first ever privately funded oil exploration exercise in Mexico. The Zama discovery is expected to produce around 2 billion barrels of oil. Apart from sizable oil reserves, what makes the Zama basin attractive is that it is located in relatively shallow waters. This, in turn, means that Talos is capable of high-impact exploration in the region.
Citigroup and UBS Investment Bank acted as the financial advisors for the merger between Talos and Stone energy.
Click here : https://www.crunchbase.com/organization/talos-energy