Ever heard of blessings in disguise? Tim Duncan can stand tall and agree that some disasters do bring good tidings. As he negotiated and tried to close a deal, he was rendered homeless. His home in the North of Houston was submerged under the Hurricane Harvey water.
That did not deter him from going on with his deal at the comfort of his parents’ home. Under the watchful eyes of his money managers, River stone and Apollo Global Management they engaged the Stone Company. Franklin Templeton Investments and Mackay Shields the bondholders concluded the deal on May.
Talos Energy were now owners of assets worth $900 million in the Gulf of Mexico. The downside was the cost of drilling in the waters since it was on the high side, the possibility of a spill and the political instability of region. But Tim Duncan could not let the opportunity pass.
Was It a Loss or Gain?
Stone Company was bankrupt but a public entity. Talos energy was on the venture of going public, and Duncan saw the opportunity since he would avoid public offering. Secondly, the Pombano Platform worth $ 200 million was part of the company. They were to be assets to help in the tie back of discoveries referred to as, developed deep water model.
Talos energy is doing well in the Gulf of Mexico with current production of 48,000 barrels per day. They have also hit seven dusters in the twenty eight attempts. The future is also promising since the government is also offering more federal land for leasing. It was a win for the Talos Energy.
History of Talos Energy
Tim Duncan inspiration came from Zilkha Energy where he witnessed his first sale of a company. He started off with Gryphon Exploration and Talos Energy was formed in the year 2012. They are also the owners of Phoenix field. There experienced setbacks through hurricane, but due to their persistence, they are estimating to discover new reservoirs. Despite hanging on loops most of the time, the journey is very promising.
Read More : www.indeed.com/cmp/Talos-Energy