Talos Energy new deal with Stone Energy

Tim Duncan is 45-year-old CEO of Talos Energy, a top oil and gas drilling company in the United States. Recently, he entered into an agreement with Stone Talos Energy, a publicly traded company that had filed for bankruptcy. The decision had been made by the management of Stone Energy to cushion it from collapse due to the global oil prices hitting very low levels in 2015. Despite the company facing bankruptcy, Tim Duncan was ready to face to take the risk and but the company. He is a brilliant business leader who believes to have the capacity to bring the operations of the company back up again. One thing that many people do not know is that Tim Duncan had to go through a hard time striking this $2.5 billion deal as a result of the challenges caused by Hurricane Harvey that was being witnessed at that time. In fact, he says that he struck the deal while in his mother’s house due to the floods that were being experience in Houston. Tim Duncan was committed to do anything it took to have the deal finalized.

One of the benefits that Talos Energy gained from this deal is that it became a publicly traded company without going through an IPO stage. Since Stone Energy was publicly traded, that was enough to have the new business entered into the NY Stock Market Exchange. The company is operating under the ticker “TALO” and Tim Duncan has maintained his position as the CEO of the company. Talos is now making over $900 million returns annually under the management of Tim Duncan. It is great start and in future, the company is expected to see a significant increase in revenue as more and more businesses become live.

With the new combination, Talos is going to expand its operations not only in the United States but also in Mexico. The company is also expected to employ new technique of drilling that will increase production of oil. Under the new setup, it is expected that the company will be producing 48,000 barrels in a day. In the future, this volume is expected to go up further.

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