Talos Energy Sees Potential In Risks
Even though Hurricane Harvey may have temporarily devastated his life and community of Kingwood, Texas, Tim Duncan did not let this deter him from making sure that his company Talas Energy was able to complete an important business deal. While the waters were rising, he helped his family including his pets, son, and wife get into a FEMA rescue boat in order to get to safety.
Tim Duncan, the chief executive officer of Talos Energy, was destroyed by the disaster. He was in the middle of a deal that he had been arranging for the last 4 months. He and Stone Energy were set to merge together at a price of $2.5 billion. At the time, Stone Energy was being traded publicly and had done bankrupt. He knew that the merger created a great deal of risk, but he believed that it was a good choice for the future of Talos Energy.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
He knew he couldn’t use the flooding of his home be an excuse to not do his best for Talos Energy. He completed the deal after returning to Texas and staying at his parents’ home until his family was able to safely return home. After he finished dinner with his family, Duncan would work late nights from the kitchen table to complete the merger.
While many people may not agree with Talos Energy’s bet, they have always been willing to take their chances on wells in Mexico as well as the United States. Many in the industry see the company as a deepwater wildcatter with their methods. Currently, Talos Energy has production capabilities of around 48,000 barrels of oil per day.
Talos Energy has even been able to find opportunities after disasters. Their ships have collected thousands of gallons of oil from the ocean following considerable spills. Their services were used extensively after the diaster involving BP.
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