Talos Energy is an oil company located in Texas. The company expanded its assets after merging with Stone energy. Duncan, the CEO of the multi-billion globally recognized company, signed the deal to acquire the business venture during the Hurricane Harvey disaster that struck his hometown of Kingwood, Texas located in the north of the Houston. The agreement of owning the stake was struck at his parent’s dining room. The acquisition led to the emergence of Talos Energy.
Despite the advantages that came with the merging of the two conglomerates, there was also a possibility of unforeseen circumstances that trailed Talos Energy as well. Merging with Stone Energy Company listed Talos Energy as a public limited company automatically without going through the long process that converts a private entity into a public body.
Some of the risks were the possibility of a spillover leading to the loss of millions of money. The company Chief Executive Officer who was brought up in different cultures. Growing up in Egypt, Florida, and Texas, he is a New Yorker in lifestyle. The crisis played a huge role in ensuring that the deal was finalized as planned. Therefore, crisis formed the right opportunity for the merger. Currently, the biggest asset owned by Talos Energy is known as the Phoenix field (previously referred to as Typhoon field), about 170 miles south of New Orleans. The platform of half a dozen oil wells were drilled by Chevron. Unfortunately, the platform was destroyed by Hurricane Rita in 2005.
Therefore, the typhoon platform was taken up by Talos energy, and currently, it produces about 16,000 barrels each day and loads the oil into a specially designed ship for transportation. The ship is referred to as the Helix Producer. The forecast shows more discoveries of additional reservoirs 3,000 feet deeper than the old wells. The most important assets that were inherited by Talos from Stone energy was the Pompano Platform the was bought from BP for a whopping 200 million dollars together with other assets for drilling. The existing platform makes it easier for the business organization to expand faster.
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