Oil Production In The Gulf Pays Off For Talos Energy

Timothy Duncan is the Chief Executive Officer of Talos Energy. The company is located in Houston, Texas. The company recently acquired the publicly held Stone Energy company after months of negotiations. The merger is said to be valued at approximately $2.5 billion. Much of the firm’s assets are invested in a massive drilling project in the Gulf of Mexico.

In the midst of the negotiations, hurricane Harvey arrived to drop its flood waters and devastation upon Houston and the entire region. Tim Duncan, age 45, resides outside of Houston in the nearby suburb of Kingswood. The water was already waist high, and more flooding was expected, when Tim decided they had to evacuate their home. He packed up his young family, and they headed toward safety. They took shelter with family for a short period. This did not deter Tim, and the deal with Stone Energy was finalized as he sat at his mother’s table.

The project in the Gulf has its share of risks. Drilling will take place in a combination of US waters and the shallow waters in the Mexican territory. New technology is being used on older reservoirs. It was worth the risk, and the company is now able to produce approximately 48,000 gallons of oil per diem, and the hopes are for an even higher production level will be established.

Talos Energy first explores offshore for oil, and then ultimately begins production of oil and other natural resources. The company was founded by Tim Duncan in 2012. Tim currently resides over the new organization that was formed between Talos Energy and Stone Energy. The company is publicly held, and it is traded on the New York Stock Exchange. The company stands committed to the highest standards of and well being, safety precautions, and environmental compliance.

In mid August, the company reported on its 2018 first quarter earnings data. Talos Energy reported a total revenue of $203,906,000 compared to $95,426,000 in the first quarter of 2017.

Read More : www.crunchbase.com/organization/talos-energy

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