Tim Duncan and Talos Energy have proven their ability to operate during the most drastic of circumstances. A year ago, the greater Houston area was in shambles due to the devastating effects of Hurricane Harvey and the upscale Kingwood, Texas community that Duncan called home was not spared. The roads leading to Duncan’s home were completely under water and there was no power as nightfall approached and to make matters worse much more rain was expected to pound the area. Duncan, wife Christy, the couple’s six-year-old son, as well as the family’s two dogs were forced to board a FEMA boat to find safety from the natural disaster. Dealing with the storm and its after effects only served to further complicate an already high-pressure situation for Duncan and Talos. The company had spent the last four months in negotiations with Stone Energy seeking a merger with the company.
The $2.5 billion acquisition was considered to be an extremely risky move by most insiders as Stone Energy was a very large company that was bankrupt at the time. Tim Duncan was keenly aware, however, that the leverage that by gaining access to Stone Energy, which is a publicly traded company, would allow Talos the luxury of going public in its own right without having to execute a public offering which would pay great dividends for the company. Tim Duncan would complete the deal from his parents’ kitchen table and the end result is that Duncan now is in charge of a company that reports $900 million yearly in annual revenue and makes use of the Stone’s public listing. The experts that once doubted the move being made by Talos now applaud the company while pointing to its balance sheet that shows more than $2 billion in assets offset by only $700 million in debt.
About Talos Energy
Talon Energy is a privately operated oil and gas company that has the majority of its assets in the Gulf of Mexico. Talos Energy maintains a company focus on exploration and production of natural resources that many considered to be out of reach.