As one of the most trusted names in the world of oil and natural gas in the state of Texas and on the entire Gulf Coast, Talos Energy is here to assist those who seek help with production and development in the area. The company was founded by Timothy Duncan in 2012 and has steadily grown into a major force.
Ever since the discovery of nearly 2 billion in light crude oil barrels that took place last year, Talos Energy has been positioning themselves for even bigger and better things. The company’s next move just might be their biggest one yet.
Now that Talos Energy is on the verge of acquiring Stone Energy Corporation, the company is finally going to go public for the first time. Once the two companies have finished combining, they will become Talos Energy Inc.
This also marks the first time that Talos Energy will be traded on the NYSE. As soon as the acquisition has been completed, the company will be traded under the TALO ticker symbol. The deal is expected to be completed by the end of the second quarter of the fiscal year and augurs an interesting new era for all parties involved.
Timothy Duncan is looking to lead the company into the future and thanks to these moves, they are poised to become one of the most important leaders in the world of offshore exploration. They are also making a name for themselves as far as production is concerned.
Thanks to the combination of talent and resources that are now being pooled, Talos Energy Inc. will now be able to accelerate production on various projects that are in the pipeline. The merger also serves to increase the company’s borrowing power so that they are able to take advantage of an eventual $1 billion in credit.
The current shareholders at Talos are going to be able to maintain a sizable share of the company. Stone’s shareholders will take over 37 percent of the shares while Talos’ shareholders are going to possess the remaining 63 percent.
The production is currently taking place is also slated to increase in a major way. Stone Energy also benefits immensely from this merger because it will allow them to undergo all of the necessary restructuring after they were forced to file for bankruptcy. Talos is also in the process of working with Mexico as the country reforms their energy related policies.