Talos Energy, an independent offshore oil and gas producer based in Houston has finally closed its almost $2 billion dollar merger with Stone Energy, a Louisiana based company and is now a publicly traded company.
This merger has created a larger offshore energy company that focuses on the U.S. And Mexican side of the Gulf of Mexico. Talos Energy is a Private-equity held company that is now publicly traded by acquiring a controlling interest in the Louisiana based Stone Energy which was already a publicly traded company. Talos energy opted for the merger rather than filing for a public offering.
The Houston headquartered company is traded on the New York Stock Exchange under the name TALO.
Stone Energy operated for more than 20 years out of Lafayette until it filed for bankruptcy in 2016. Those who back Talos company owns 63 percent of the merged company while Stone shareholders receive 37 percent said, Tim Duncan.
Tim Duncan, the Chief Executive Officer of Talos Energy said the deal was a ‘transformational combination.’
With this new found growth of Talos Energy, the oil and gas producer can expand into greater regions of the Gulf for exploration and production. Talos Energy has many decades of offshore exploration and production. Talos Energy was founded in 2012 and before that the company had already built and sold two large Gulf of Mexico oil and gas companies, Phoenix Exploration Company and Gryphon Exploration Company. The delivered significant returns to their investors in these companies.
Talos Energy is backed by a partnership with Apollo Global Management and Riverstone Holdings which allows them to expand their operations by buying assets in the Gulf Coast and Gulf Mexico regions and to optimize their assets and exploration and exploitation efforts.
Talos also engages in business development efforts such as Jvs and farm-ins where they use their 10.2 million acre seismic asset to enhance their economic transactions.
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