Talos Energy Teams Up With Stone Energy

The company Talos Energy will be changing their name because of the merger deal. They will now be called Talos Energy, Inc. The merger deal was finalized with Stone Energy Corporation. The deal was announced to be for $1.9 billion. The new combined company will have its headquarters in Huston Texas. They will have other offices in New Orleans and Lafayette.

The current chief executive officer of Talos Energy named Timothy Duncan will act as the Chief Executive Officer of the new company as well. After the completion of the merger, the new company, Talos Energy, Inc will have four board members from Stone Energy and six from Talos.

This newly formed combined company will develop an offshore focused production and exploration projects. These projects are already predicted to have huge potential. The executives from both firms met in 2017 and agreed on the merger in an all-stock transaction.

After the completion of the merger, the new company will start their trade in the New York Stock Exchange. They will use the symbol “TALO” for trading in the NYSE. Talos Energy will own the majority share in the new company.

Both the companies agreed to merge after taking advice from experts. The companies took outside consultation throughout the whole merging process. Stone Energy used Akin Gump Hauer for legal advice while Talos used Vinson & Elkins LLP.

The company, Talos Energy was founded back in 2012. It is an independent company that focuses on the production and exploration of oil and gas. They mostly do their operations in the Gulf of Mexico. The company’s expertise is based on acquiring, developing, exploring and exploiting Deepwater assets. Talos Energy also operates the famous Zama project.

Stone Energy Corp is also a company that produces and explores oil and gas. They do their operations in Lafayette, Louisiana. They have offices in Houston and Orleans. The merger will help Stone Energy greatly. The company went through bankruptcy recently, but the deal with a huge company such as Talos can help them get back up again.

To Know More Click Here

Leave a Reply

Your email address will not be published. Required fields are marked *