Talos Energy is a company located in Houston, Texas that explores for oil and gas. The people of Talos Energy are focused on exploring in order to find resources that were thought not possible to access. They go out and explore the Gulf of Mexico and the Gulf Coast with their seismic data base. Recently, they went through a transaction for whistler energy. The transaction cost fifty two million dollars. Talos Energy also agreed to release seventy seven million dollars to secure the surety bonds. Talos Energy received thirty one million of this collateral cash, and the seller received the rest. This transaction was a win for both sides. The assets came with a full working interest in Green Canyon 18, Green Canyon 60 and Ewing Bank 988; the three blocks that make up the Central Golf.
Talos Energy was founded at the start of 2012 by John Parker, John Harrison, Stephen Heitzman and Timothy Duncan. The company has between one hundred and three hundred employees. They became a public company when they closed a merger with Louisiana’s Stone Energy Corporation that was almost two billion dollars. Tim Duncan, the Chief Executive, is calling this deal a transformational combination. The company is split between Talos’ backers and Stone shareholders, sixty three and thirty seven percent respectively.
Their operations are mainly around the Gulf of Mexico and South Louisiana. The team members have experience and are knowledgeable about the geological formations of the area. They partnered with Apollo Global Management and Riverstone Holdings to buy assets in the Gulf of Mexico. The management built private equity companies that got sold; Phoenix Exploration and Gryphon Exploration. The investors received significant returns from each sale. They have a track record that has caused them to develop a portfolio of investments. This altogether makes them a significant company.
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