Talos Energy

Talos Energy Inc. is an oil and gas company that engages in the exploration, development, and production of oil and natural gas properties in the Gulf Coast and Gulf of Mexico.[1]

Talos Energy
TypePublic
NYSE: TALO
S&P 600 Component
Russell 2000 Component
IndustryOil
Founded2012
HeadquartersHouston, Texas
Key people
Timothy S. Duncan (CEO and President)
Michael Harding II (CFO and Senior Vice President
Stephen E. Heitzman (COO and Executive Vice President)
John A. Parker (Executive Vice President - Exploration)
Websitewww.talosenergy.com

History

The company was founded in 2012 by Timothy Duncan with a $600-million equity raise from Apollo Global Management and Riverstone Holdings.[2] The company is based in Houston, Texas.

In July 2017, Talos Energy, Premier Oil, and Sierra Oil & Gas announced that exploratory drilling in the Zama-1 field, located in the shallow waters of the Gulf of Mexico, had uncovered a formation with between 1.4 billion and two billion barrels of light crude oil. Because not all oil present is such a formation is technically recovered, it is believed that the formation could yield about 425 million barrels.[3]

In May 2018 Talos Energy Inc.("Talos") completed merger with Stone Energy Corporation (NYSE: SGY) ("Stone") and became Talos Energy, Inc. The new company trading on the New York Stock Exchange under the new ticker symbol "TALO".[4]

In December 2018 Talos Energy started Zama discovery appraisal program, which will consist of three reservoir penetrations. The Zama-2 appraisal well is the first appraisal penetrations drilled to better define the resource potential of the Zama discovery. It was drilled in a down-dip location approximately 1.3 miles (2.1 kilometers) to the north of the Zama-1 discovery well to confirm the geological model and define the oil-water contact.[5]

In June 2020, Talos Energy announced the bolt-on acquisition of assets from affiliates of Castex Energy 2005.[6]

Operations

Talos currently operates in two jurisdictions, the U.S. Gulf of Mexico and shallow water offshore Mexico. Its operations in the U.S. Gulf of Mexico are primarily focused in deepwater, with key operational areas in the Green Canyon and Mississippi Canyon areas. Talos also maintains operations on the U.S. Gulf of Mexico Shelf. In Mexico, Talos is active in Blocks 7, 2, and 31, with Block 7 containing its globally recognized Zama discovery.

References
  1. "Company Overview of Talos Energy LLC". Retrieved 2017-07-14.
  2. "Tim Duncan: Chief Executive Officer, President, Talos Energy". Retrieved 2017-07-14.
  3. "Investors Find Major Oil Deposit in Gulf of Mexico". Wall Street Journal. 2017-07-14. Retrieved 2017-07-14.
  4. Helman, Christopher. "Deepwater Wildcatter: Meet Talos Energy, The New Gulf Of Mexico Pure Play". Forbes. Retrieved 2019-02-05.
  5. "Talos Energy provides update on Zama appraisal, offshore Mexico". www.worldoil.com. Retrieved 2019-02-05.
  6. https://www.talosenergy.com/news/press-release-details/2020/Talos-Energy-Announces-Borrowing-Base-Redetermination-Results-And-Bolt-On-Acquisition/default.aspx
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