An Interesting Story About How Talos Energy Became A Publicly Traded Firm
Talos Energy Inc. is a Houston-based company that exploration and production firm in the oil and gas industry. It was founded on January 1, 2012, by John A. Parker, Stephen E. Heitzman, Timothy S. Duncan, and John L. Harrison. It is led by Timothy Duncan who is both the president and Chief Executive Officer of this firm.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
Talos Energy became a publically traded company on May 10, 2018, in an interesting way. They did so by completing a merger with another firm in the industry, Stone Energy of Louisiana. This was a $2 billion deal which created one of the biggest offshore oil companies working in the Gulf of Mexico both in Mexican waters and American waters.
Stone Energy was a publically traded firm and Talos Energy was privately held before this merger. Talos Energy became a publically traded company by buying Stone Energy. It’s new stock ticker is TALO and it trades on the New York Stock Exchange (NYSE). When talking about this merger Timothy Duncan said its completion was one of the most transformational events in his companies history. Upon completion of the merger the backers of Talos Energy acquired 63% of this new combined company and the shareholders of Stone Energy acquired the remaining 37%.
Timothy Duncan said that his company is now in a great place where it can capitalize on its asset portfolio and returns. They have high-quality projects underway in both offshore Mexico and American waters that they will be able to take full advantage of. He and his management team are also looking at further business development opportunities.
When Talos Energy was launched in 2011 it was backed by two big venture capitalist firms, Riverstone Holdings and Apollo Global Management. At the time the belief was that Talos Energy would do an initial public offering sometime in either 2014 or 2015. However, the value of a barrel of oil collapsed which made doing an IPO all but impossible.
Their biggest find so far was in Mexico. This is called the Zama discovery and it is believed to contain a vast quantity of oil and natural gas.
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