Energy is a popular sector in the global economy. It is the substance of what industry is made of. In a changing economic environment it makes sense for companies to come together to create bigger and more solid company. This is what took place out in Houston, Texas when Talos Energy LLC and Stone Energy Corporation combined in 2018.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
The company now goes under the name of Talos Energy Inc. and now has more an extensive asset portfolio. The merger has allowed the company to focus on projects in the Gulf of Mexico and Mexico itself. The company can now get back to its well exploration and premium offshore pursuits. As a bigger company Talos Energy is able to seek out and take advantage of other business opportunities in the energy sector. The company has a daily production of 47 thousand barrels of oil or its equivalent per day. It has also located two other premium wells since mid 2017. Mexico has proven to be a high production area in the past few years. Having larger a company in that area allows Talos Energy Inc. to cover more production and exploration grounds. Their goal is to become the premier energy company in the region.
The share holder’s value from the merger has worked out well in the favor of the many holding the company’s stock. Stone Energy Corp shares were swapped out for Talos Energy Inc. which officially hit the New York Stock Exchange on May 2018. The company has already restructured their credit deal allowing them to have more than $300 million available. The company has reported it has one hundred and fifty million in cash on hand to work with. The stock itself is trading above $30 a share making the merger successful from an investor stand point so far.
With the balance sheet for the company stronger and the focus on its long term plan for premier oil production Talos Energy Inc has clearly made a power move. Timothy S.Duncan is extremely excited about the future and outlook for the company as the move forward.