For a company to be competitive in any field, growth is inevitable. Talos Energy has made significant changes in their structure in the past 36 months, and they have successfully remodeled their vision on the exploration industry. One of these changes is their merger with another similar company. Acquiring the Stone Energy Corporation, according to pundits was probably one of the best decisions by the Talos Energy in the recent past. It is impressive to note that the merger gave the company the status required for a company to go public. For the past eight months, the company’s stock has competed well against some exploration giants.
It is also in the last 36 months that the company invested in exploration areas. Through a competitive process, the company emerged as the best potential explorer in more than ten spots. The location of these spots according to the company’s management will propel the company to the next level of exploration owing to the fact that oil and gas remains one of the drivers in any economy. Talos Energy as a trendsetter in this specific field believes that the famous Gulf of Mexico is the future of gas and oil production. However, it is important to note that the exploration area until recent was mostly unexploited.
One of the critical aspects that the Talos Energy is banking on in this exploration is their trained workforce. The workforce in exploration industry is essential and if the workforce is qualified like in this case, the better the exploration future. It is important to note that for a company to attract a qualified workforce, the company must have a tradition of treating workforce well and reward them fairly. Talos over the last six years has redefined the concept of a good working environment. It is impressive to note that the company due to its brilliant approach to employees has been a winner of the best workplace. In addition, the company is one of the companies with the best structures in remuneration.
With the new funding, expansion in the exploration spots and a great workforce, the company’s future is bright. Pundits have termed this company as the defining factor in the exploration future.
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Sarah Palin, former Republican vice presidential candidate and governor of Alaska once famously said, “Drill baby drill!” The candidate gave this response when a reporter asked how she would solve the high gas prices faced by U.S. residents at the time. Talos Energy helped achieve that goal and helped lower the $4 plus gas prices that affected everyone in the country. The company specifically focuses on offshore oil exploration and drilling, and it recently earned the honor of being named one of the Top 50 companies to work for in the United States.
The company earned this honor because of survey response’s from the company’s employees. The best places to work survey is conducted by a third party on a regular basis. Statisticians then collect the stats and calculate weighted averages to figure out which companies come out on top. The last time the company came out as highly regarded in survey.
Talos Energy focuses on the area off of the Gulf of Mexico. It recently reached an agreement with Pemex, a Mexican governmental organization, to expand its resources in areas controlled by the Mexican government. The deal allows Talos Energy, along with Mexican companies, to further explore and develop resources in the region.
The company also recently merged with Pemex, which makes it the second largest offshore oil assess company in the world and the largest one operating in the Gulf. Unlike rigs owned and operated by British Petroleum, Talos Energy has maintained a steady safety record. BP’s safety record has also improved since the disaster on the Deep Water Horizon drill rig. Anyone who wants to work for one of the Top 50 companies in the United Sates can check out the careers section of the company’s web page. There are hundreds of jobs available in STEM fields.
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Talos Energy, LLC, is a company that explores, develops, and produces oil and natural gas. They operate in the Gulf of Mexico and along the Gulf Coast. This company was established in 2012 by businessman Timothy Duncan who acts as the Chief Executive Officer and president. Their headquarters is in Houston, Texas.
Up through the middle of 2018, Talos Energy was a privately held company. This changed when a deal that took Tim Duncan months to complete was finalized and it is now listed on the NYSE. How this came about was that they merged with Stone Energy Corporation of Louisiana. Since Stone Energy was publically held the merger resulted in Talos Energy going public. This deal was worth almost $2 billion and was completed on May 10, 2018. The financial backers of Talos Energy now own 63% of this combined company while the people who had shares in Stone Energy now own the remaining 37%.
This company grew again on September 4, 2018, when Tim Duncan announced that his company had acquired another oil and natural gas firm, Whistler Energy II, which had been in bankruptcy. They purchased this firm for $52 million. During the negotiations, Talos Energy was able to have $77 million of Whistler’s cash freed up that had been secured for their surety bonds. Talos Energy got $31 million of this cash while the seller received the remaining $46 million.
As a result of this deal, Talos Energy now owns three lucrative oil production blocks in the Central Gulf of Mexico. These are Green Canyon 18, Green Canyon 60, and Ewing Bank 988. This is nearly 17,000 acres of the ocean floor and included is the fixed production platform that Whistler Energy II had built there. To date, 117 million barrels of oil have been pumped from this area and they are pumping out 30,000 barrels of oil per day as well as 30 million cubic feet of natural gas.
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