Talos Energy is an independent oil and gas company that is involved in the exploration and production of natural oil and gas in the Gulf of Mexico and the Gulf Coast. The company was founded in 2012 by John L. Harrison, John A. Parker, Timothy S. Duncan and, Stephen Heitzman. The company has its headquarters in the Greater Houston Area, Southern United States. Talos Energy also engages business development activities. The activities include farm-ins and JV’s in its 10.2 million acres of seismic inventory. The aim is to maximize the company’s economics of the transaction.
Talos Energy is led by a highly competent management team. The team has extensive experience and knowledge in offshore oil production and exploration. For this reason, the company has developed over the years to become an expert at acquiring deep water assets and operated shelf in the Gulf of Mexico. Talos Oil then explores exploits and finally optimizes the acquired assets using state-of-the-art seismic technologies. The company has had outstanding results in its one decade of operations.
Earlier this year, Talos Energy acquired Whistler Energy II, LLC $52 million. Whistler Energy II has an estimated gross production of 1,900 barrels of oil per day or a net production, after royalties, of roughly 1,500 barrels of oil per day. According to Chief Executive Officer of Talos Energy, the deal was a significant milestone in the history of the company. The deal represented the company’s preference regarding low entry costs, new seismic in a known hydrocarbon fertile region and underutilized production facilities. The company, according to the CEO, will immediately embark in a detailed field exploration with the aim of identifying more drilling areas. The deal will help a great deal in expanding the company’s portfolio and, provide the company with alternative capital allocation. The CEO is optimistic that the Green Canyon 18 Field is a valuable addition.
This historic deal was mutually beneficial to Talos Energy and Whistler Energy. Whistler received roughly $100 million in cash, but the Talos net cash payment remained at only $14 million. This figure translates to an acquisition metric of $9,333 per net Boepd.
To Read More Click Here