Tim Duncan And Talos Energy, Up For The Challenge

Tim Duncan, current CEO of Talos Energy, isn’t a man afraid of a challenge. He started career in oil industry back in 1996 as an Engineer, and, right before the oil market crash in 2012, he founded Talos. It was the perfect moment for a new company with plenty of capital to purchase assets from bankrupt companies. But it had plenty of risks. After the BP disaster and the additional mandates from the Obama administration, oil drilling became increasingly difficult and companies lost profits.

But where other companies see risk, Talos sees opportunity. The Gulf is one of the biggest oil producers at nearly 1.6 million barrels per day, and with the Trump Administration opening federal waters, Talos is in prime position to profit. Still, there were valid reasons for those oil companies to sell off their deep sea assets such as the 200 million dollar price tag for a well that has a 1 in 3 chance of turning up dry. With those kinds of costs, many companies fled to dry land where fracking promised a more secure profit. In spite of this, Talos entered into negotiations with Pemex, the Mexican state run energy company, to drill in the Sureste Basin.

This negotiation was particularly trying for Tim Duncan. Not only was the agreement with Pemex critical for Talos, but it coincided with Hurricane Harvey. While Mr. Duncan had planned the weather the storm in his Houston home, the flooding drove him and his family to higher ground. Tim Duncan was forced to finish the negotiations from his mother’s dining room table. But he never once flinched from the challenge. And that fearless dedication has paid off for Talos, in the last twenty-eight wells drilled in the Gulf region, only 7 have turned up dry, a far lower percentage than the average. And in the face of all turmoil, Tim Duncan has said “what I enjoy is the challenge of building something that other folks may come to the conclusion you can’t build anymore.” Could there be a worthier leader for a company who looks to profit where others fear the risk?

To Visit More Click Here

Talos Energy Set For Development Through New Partnerships

Talos Energy recently announced the embarkment of a new venture as the company sets out to acquire Whistler Energy II. The Acquisition took place in August and is currently already operating under the wing of the company. Talos Energy is already an incredibly prominent player in the energy industry, and the acquisition of a well-known energy company is only working in favor of the energy company.

The acquisition has been incredibly beneficial for both companies because of the amount received and also the potential for growth in future. Overall, this acquisition is said to be one of the more prominent ventures that Talos Energy has taken on during this year.

The acquisition of Whistler Energy II was not the only venture that Talos Energy has undertaken over the past few months. The company is already in talks with numerous other energy companies with the intention of improving their overall assets and operations.

Representatives of Talos Energy recently released a statement expressing their interest in partnering up with Pemex, a state run energy company currently located in Mexico. The reason this partnership is something that Pemex is looking forward to is because of the scope that this deal provides. Through this, both parties would be able to improve the work done by them, leading to a higher generation of oil and energy. The Chief Executive Officer  of Talos Energy too came forward to express his views about this potential partnership, claiming that he would be interested in analyzing the scope of this deal, and plans to invest in this venture.

About Talos Energy

Talos Energy has always been a company who sought the very best for the kind of work that they did. With clear-cut plans of action and a single goal in mind, the company has been able to grow over the years to become one of the most prominent energy and oil companies in America.

To Read More Click Here

Talos Energy Got Into A Deal To Purchase Whistler Energy

Talos Energy is a gas and oil company. It is led by a team having more than ten years of experience in offshore production and exploration. The company has developed expertise in acquiring developed deep-water assets and operated shelf in the Gulf of Mexico. It explores and optimizes assets using cutting-edge technologies and innovative techniques. The team has a good history of producing positive results. Before beginning Talos, the founders had built and sold oil and gas Gulf in Mexico. These are Gryphon Exploration and Phoenix Exploration Co. Each of this company delivers a lot of returns to the investors.

Talos Energy got into a deal to purchase Whistler Energy on 4 September 2018. The oil production per day by Whistler is approximated to be about 1,900 barrels. The net royalties produced is about 1,500 Boepd. About 82% of this royalties is oil. The price of the purchase was set at $52 million. Talos negotiated a release of $77 million in cash collateral that secured Whistler’s surety. Talos, therefore, paid a total of $31 million with the seller being entitled to the remaining amount. Talos Energy benefited from the available balance at Whistler which was about $7 million. This resulted in a net cash consideration of $14 million.

The transaction represented a win-win situation for both companies. Whistler received about $100 million. Talos paid only $14 million in cash which represented $9,333 net Boepd in metric acquisition. The assets that were acquired include a full working interest in Ewing Bank 988, Green Canyon 60 and Green Canyon 18. The three Gulf together comprises of about 16,494 acres. The Green Canyon 18 Field was however developed by ExxonMobil and the sold to Whistler. It has cumulatively produced more than 117 million barrels of oil to date. It also operated the Tornado discovery and Phoenix field.

The benefit of acquiring Whistler is beyond the production leases. Talos had already taken an initiative in the area to license vintage azimuth seismic data. This will assist in generating potential drilling prospects and re-mapping of reservoirs. The company was the highest bidder in the latest federal lease sale. The lease had three drilling prospects that could be linked to the Green Canyon facility.

Talos Energy Is A Small Fish In A Big Pond.

In the equation of the Worldwide economy, Talos Energy is merely one of an infinite number of variables. Unlike applied mathematics, this equation cannot be solved or even practically understood by either humans or computers. Humans don’t have access to all of these variables because conditions constantly change. Therefore, without the clear data to input, a computer program can do little more than approximate an eventuality.

For most of its first century, oil production was a volatile but reliable predictor of economic influence worldwide. This fact is primarily because OPEC controlled the majority of crude oil production, therefore, its availability worldwide. Certainly, this resulted in a global monopoly that no outside force had the power to overcome. Untold billions of dollars have been spent and countless lives lost in a vain attempt to merely exist with this situation. Then you begin to encounter the variables of increased crude oil availability.

Throughout the 20th century, oil production technology remained for the most part unchanged. With limited easily accessible resources, the America’s oil production capabilities dwindled. However, when science caught up to the 21st century, the picture began to blur and quickly change. Crude oil resources that were once too costly to access suddenly became economically viable. Indeed, one cannot simply name one factor as the tipping point, however, this element of the equation was at least an important catalyst.

It has long been said that nothing happens in a vacuum, in this case, no adage could be more accurate. Regardless of what many may think, money is not a finite commodity. Control of a necessary commodity directly translates to control of the resulting financial windfall. This concept is easily understood in a small, local infrastructure. However, taking this idea worldwide and factoring in the financial gains, losses, assets, and needs of a vast population the once easy concept becomes an insurmountable equation.

The control of crude oil is but one factor. At present, the world is experiencing the flux of change. The winners and losers will be decided in the decades to come. Talos Energy will be an element of this change, at least this time.

To Read More Click Here