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.
Read More : www.crunchbase.com/organization/talos-energy