Talos Energy is a Houston-based oil and petroleum exploration company that has massive operations across the Gulf of Mexico. Recently, the company proposed an acquisition contract to the Stone Energy Corporation, an energy provider based in Lafayette, Louisiana. The merger was estimated to be around $1.9 billion, and the two companies will be known solely as Talos Energy Inc. once the deal has been finalized. The company will also be traded to the public, having the ticker symbol “TALO.” Additionally, the ticker symbol will be added later on at the New York Stock Exchange. Reports about the acquisition contract between Talos Energy and Stone Energy Corporation have been surfacing recently, giving out details that the merger will take place sometime in the first or the second quarter of the year 2018.
According to Timothy S. Duncan, the chief executive officer of Talos Energy, he and his board of directors are serious with their plans of making Talos Energy a premier oil exploration and production firm. He is optimistic that the merger between the two companies would finally unite the best people who will initiate the exploration of some of the best places on the planet where oil and petroleum can be extracted. Timothy S. Duncan has been serving as the CEO of Talos Energy for years, and he is known for his strict leadership and his dedication to reaching the goals that they have set.
Timothy S. Duncan also gave a glimpse as to how the two different companies would operate. According to him, after the merging, 63% of the newly established Talos Energy Inc. will be controlled by the stakeholders of Talos. On the other hand, 37% of Talos Energy Inc. will be controlled by the shareholders of the Stone Energy Corporation. Experts agree that this merging would produce positive effects, especially with the economy. Knowing that the price per stock of Stone Energy Corporation is about $35.49 in the present, investors are already advising the people to stock investing in the growing Stone Energy Corporation.
According to the management of Talos Energy Inc., the company will continue to drill on the Gulf of Mexico. They claimed that because of the oil and petroleum wells that they harvested from the Gulf of Mexico, their daily production has already reached 47,000 barrels of oil a day. Talos Energy is expected to become one of the most successful companies in the country, and it is because of the people who are leading them to become better persons.