The chief executive of the company is Duncan(45 years old). In last months four months, Duncan was orchestrating $2.5 billion mergers using his private company with a Stone Energy. He publicly traded and became bankrupt. When acquiring trouble outfit, it was a risky play but would make Talos Energy to be a public entity and there will be no public offering expense.
He kept telling him that he has to let the deal closed. Flood is not always an excuse. He called a private plane for his family and they took them to Alabama. When he returned to Texas, he used to camp in his parents home. He used to work late night after dinner. He did the negotiation in his mother’s dining room.
In may after the merger was completed, Talos Energy was to take Stone’s listing over, and by doing so, Duncan will know be presiding the oil company that generates $900 million annually. Most of Talo’s assets will be located in the Gulf of Mexico.
It was a contrarian bet. The crowds are now somewhere else like Permian Basin, where there is an application of technology in old reservoirs. Talos can be said to be a classic wildcatter. Duncan is now refreshing the burst due to high-energy enthusiasm.
He is a guy who has made the tough situation. Talo’s has now its biggest asset being Phoenix field that is in 165 miles south of New Orleans. It was developed first by Chevron, where it drilled half-dozen of the wells and then installed production platform. It tethered seafloor down 4,000 feet. Hurricane Rita came in 2005 and capsized roughly 13,000 tons of typhoon platform which sent it to drift 60 miles crossing the gulf.
The asset that looks promising for Talos to inherit is Pompano platform from stone. It was acquired with $200 million from BP together with some new drilling prospects. Duncan takes it as a developed deepwater model because he will turn the new discoveries into existing ones.
Duncan had founded Talos in 2012 with $600 million, an equity fund from Apollo and Riverstone. He later paid $620 million in next year while acquiring Phoenix together with other assets.
Their Facebook Page: https://www.facebook.com/talos.energy/