Talos Energy is a winner of the Top Workplace award for six consecutive years stating 2013 to 2018. It is an award given to employers that provide a conducive work environment for their workers where they feel appreciated, valued and offered good benefits for their high performance. Top workplaces are also where workers opinion is heard. Talos Energy dedication to growing a business that is dedicated to oil and natural gas exploration makes it focus on supporting and rewarding the workers who have been the key influencing factor of its success.
It is a company that considers its employees as valuable resources, therefore offering them the best possible treatment. The employees work in various positions such as corporate, engineering, drilling among other position that relates to the exploration of oil and natural gas. The workers operate from various locations of Talos Energy such as in its headquarters in Houston, or from the fields in Gulf of Mexico or in Louisiana.
Among the support workers receive from the company is access to state of the art equipment, technologies, and data that facilitates in enhancing levels of productivity. The workers’ safety and good health are also crucial to the company and these are also part or of its core values. Workers are required to follow the set safety procedures for the promotions of an accident-free environment.
The workers are a priority to the company, which is unlike other companies where making profits is the main issue of concern. The management of the company understands that the well being of the workers is directly related to performance. If workers are happy, then profits would be a non-issue. More so, the workers are offered competitive benefits to enhance their job satisfaction which also assists is keeping the rate of employees turnovers down.
Talos Energy is also a socially responsible company that supports environmental sustainability by practicing safe methods that protect the environment. The drilling methods do not cause harm to the ecosystem. Further, each employer is offered $500 annually to use in a non-profit initiative they see fit. It is a strategy that not only benefits the public but also the employees and the company
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Talos energy is an independent gas and oil company which was founded in 2012. The company has exponential expertise in exploring and producing offshore hydrocarbons in the United States Gulf of Mexico region and offshore Mexico. The company was formed in close partnership with Riverstone Holdings and Apollo Global Management. This was for the sole purpose of acquiring assets in the Gulf Coast and Gulf of Mexico areas. Apart from that Talos takes part in business development activities that incorporate JV’s and farm-ins.
On 31st August 2018, Talos announced that it had gotten into and concluded a deal to acquire Whistler Energy II. Before the acquisition, Whistler had a gross production of roughly 1,900 barrels of oil daily. The buy-out price was set at $52 million. As a fragment of this acquisition, Talos was able to negotiate the release of $77 million of a surety that had safeguarded Whistler’s security bonds which the firm was not required to interchange. Due to this, Talos received $31 million which as the total cash collateral that was released. The seller on their part was titled to the remaining $46 million.
Besides the acquisition of Whistler Energy, Talos energy also made a merger. The merger involved another entity known as Stone Energy Corporation. This is after the Board of Directors of both corporations solidly agreed to the amalgamation of these companies in an all-stock transaction that brought about a leading offshore-focused production and Exploration Corporation. However, the merger maintained the name Talos Energy. Under the terms and conditions laid out in the deal, every outstanding share of Stone common stock was traded for one share of Talos energy, Inc. shared stock.
At the closing of the agreement, Talos stakeholders owned 63% of the joint firm with Stone shareholders holding the remainder which was 37%. This merger was a critical step towards the company’s objective of being the premier offshore production and exploration corporation. Also, the merger gave room for more financial flexibility which would ensure that the company could conduct business most effectively and ultimately making Talos Energy a leading offshore exploration and production company.
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Talos Energy LLC is a Houston, Texas-based company that was established in 2012. It explores for oil and natural gas in Gulf of Mexico, develops drilling platforms, and then produces these natural resources. It was founded by Timothy Duncan who serves as the chief executive officer. Their biggest discovery so far was in Mexico’s Zama-1 field which has been determined to have somewhere between 1.4 billion and 2 billion barrels of light crude oil in it.
Tim Duncan says that his family was forced out of their home by Hurricane Harvey right when he was working on a critical merger between Talos Energy and Stone Energy Company. After getting his family to Alabama he had to return to the Houston area in order to complete this deal he had already spent four months negotiating. He ended up using his parent’s home as his base because they had power and weren’t flooded out of their home.
This deal was critical because if it was completed Talos Energy would become a publically traded firm. While Talos Energy was privately held Stone Energy was publically held. One of the big issues was that Stone Energy was basically bankrupt although they did have some valuable assets. He was able to complete a merger between the two firms from his parent’s kitchen table which was worth $2.5 billion.
Tim Duncan says that he and the rest of the team at Talos Energy like to take risks and contrarian bets. He says that most of his competitors are off exploring areas like the Permian Basin which have been drilled for decades. They are applying new technology such as hydraulic fracturing in order to get at oil that hasn’t been recovered in the past.
Talos Energy, though, thinks about things differently. They would rather explore areas that haven’t received the attention of the crowds. Tim Duncan says that he would rather take a big swing and hit a home run when it comes to exploring for oil and natural gas rather than making safe swing and ending up on first base.
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