The rise of Talos Energy in the oil and gas industry

Talos Energy LLC is a private and upstream company. The firm handles oil and gas. It has focused on exploring and acquiring of oil and gas properties. It has a primary focus on the Gulf of Mexico and the Coast of the Gulf. The firm has investment support from different investments companies which include; Apollo Global Management, Riverstone Holdings LL, and also the Talos management. It announced its subsidiary that is wholly owned. It has finished acquiring the Energy Resource Technology GOM, Inc.

Talos Energy LLC and Sierra Oil & Gas formed a joined venture with Premier Oil Plc. After this venture, they began drilling the Zama-1 well. It is stated to be the first exploration well that is offshore that is launched by a company that is not Petroleos Mexicanos. The Petroleos Mexicanos is a monopoly company that has been running since the nation made the oil industry national in 1938. This well is located in the Sureste Basin. It has been estimated to have a total of 100 million to 500 million crude barrels. The drilling of the oil will be expected to take around three months to be completed. The cost of the drilling has been estimated at 16 million dollars. In 2015, the three firms earned the right to prospect.

During the financial crisis, the investors of the company sent money back to the bank. They, then, deployed the small money pool only to profitable spots. In 2011, the company had doubled its size and then sold it to the Apache Corp. it is now a firm with 600 million dollars. The money is from the previous investments and the Gulf of Mexico. The employee headcount of the company is around 120 employees from the original 15. The firm has a projected revenue of about $475 million to $500 million each year. The company is expected to continue growing and hiring.

The manager of the Talos Energy Company, Tim Duncan, always ensures his employees that he is always trying to make them money. He does not ignore any of the ideas that the employees have. He encourages them not to hold back. He has climbed the ranks of private equity from being the reservoir engineer manager. He was at Gryphon Exploration. He claims that his bosses have always wanted to know what he has to say. This motivated him always to work harder. As a manager, he has always tried to emulate this. This has also helped his employees to keep doing their best.

For more information follow Talos Energy on Facebook.

Leave a Reply