oil

Talos Energy Acquires Controlling Interest In Stone

Stone/Talos Merger become TALO on NYSE

Talos Energy, a Houston oil and gas provider, is officially a public company. May 10, Thursday, it closed the merger with Louisiana Stone Energy. The merger closed at $2B for Talos. Rather than filing for an IPO, Talos purchased a controlling interest in Stone. Talos stock symbol is “TALO” on the NYSE. TALO is interested in pursuing more drilling in the Gulf of Mexico.

History of Talos
Talos is the merging of two previous

Companies, also in oil and gas: Phoenix Exploration Co. and Gryphon Exploration Co. Talos have focused on oil and gas exploration production. Talos was begun in 2012. After the Stone acquisition, Talos is well positioned to create other opportunities for development. Talos had originally had plans to prepare for its own IPO, but the oil bust ruined this future hope. Talos was able to acquire Stone as the largest shareholder, thereby acquiring the IPO thru the merger.

Talos makes Zama Discovery

Talos just hit it very big when it struck gold with its Zama oil deposit discovery in 2017. Zama oil reserve has an estimated 1.5 to 2B barrels of oil. AIPN named is “The Discovery of the Year.” Zama discovery was a historic event since it was the first time a private sector was allowed to explore oil off Mexican shores. Zama oil deposit is only 165 meters in depth, which makes it easier to drill.

Ownership

Tim Dunca, Talos Chief Executive, called the merger between Talos and Stone a “transformantional combination.” Talos retains 63 percent of the merger while Stone retains 37 percent. Furthermore, pproduction from the recent Zama reserves will begin production as early as 2019.

Talos makes Zama Discovery

Talos just hit it very big when it struck gold with its Zama oil deposit discovery in 2017. Zama oil reserve has an estimated 1.5 to 2B barrels of oil. AIPN named is “The Discovery of the Year.” Zamba discovery was a historic event since it was the first time a private sector was allowed to explore oil off Mexican shores. Zama oil deposit is only 165 meters in depth, which makes it easier to drill.

Talos made the discovery of Zama 37 miles offshore of Puerto Dos Bocas, which is an highly valued oil port in Mexico.

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Talos Energy Mexican Oil Fields

The oil industry is booming in many parts of the world. Many companies are investing heavily in new property and equipment. Talos Energy is a private oil company that is having a lot of success in Mexico. For many years, the oil industry in Mexico was dominated by companies run by the government. Talos Energy has had success for various reasons. Not only does the company provide quality products at an affordable price, but the company also has the best technology in the industry. With new oil wells being discovered in Mexico, the future is bright for Talos Energy.

Early Growth

Talos Energy has been in business for many years. During the initial years, various issues had to be corrected. Many oil companies are sensitive to swings in the price of crude oil. Crude oil is a volatile commodity that is dependent on demand from the global economy. Several years ago, the cost of crude oil crashed. This decline represented a significant turning point in the industry. Many companies went out of business during this time. Companies like Talos Energy were able to acquire smaller companies at a great price.

Focusing on Customers

Another feature of Talos Energy is a strong commitment to providing excellent customer service. There are many companies in the oil industry that are concerned with earning a high income. However, the leaders of Talos Energy want to make a positive impact on customers. This commitment to customers is one of the biggest reasons why the company is developing.

Talos Energy is investing in new products and services. With new technology, the company should be able to offer new options for customers in the future. These new products will allow Talos Energy to continue expanding at a rapid pace. Many companies will start to mimic the business model of Talos Energy.

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