Tim Duncan’s Shares His Story With Talos Energy

September 11th, 2018 by admin
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Tim Duncan’s shares his story with Talos Energy.

Talos Energy was started as a privately owned company with its chief executive officer being Tim Duncan. For a period of about four months, Tim had been actively involved in having a merger between Talos Energy and Stone energy company with the merger going for $2.5 billion. Stone Energy was declared publicly as bankrupt being traded but being a public company, Tim was ready for the liability of acquiring the company. This was advantageous to Talos since it would be a public company without the expenses of going public.

Mr. Tim Duncan was determined to acquire Stone energy. Though at the time there was the Hurricane Harvey, it did not deter him. He took refuge at his native parental home, which though being in Houston was at high altitude and dry. Duncan says he would work from his parents’ dining table for weeks, burning the midnight oil so as to negotiate the deal.

In May, the deal of the takeover was completed. Talos blended with Stone Energy and Duncan would be the head of oil company which had a gross revenue of $900 million annually. Talos would later operate in risky Mexico with most of its assets being there. The risks of operation present were that of a likelihood of a disastrous spill as well as that of an expensive drilling platform going for hundreds of millions of dollars.

Duncan has always seen opportunities in tough situations. Talos has in its list of biggest assets Phoenix field previously known as Typhoon field, situated south of New Orleans by 165 miles. It was created by Chevron which progressed by making half-dozen wells and brought about a production platform, chained to the seafloor about 4,000 feet down.

In 2005, Hurricane Rita capsized the 13,000-ton Typhoon platform but Talos straightened up. It now injects into an exclusive ship called Helix Producer, 16000 barrels in a day. In 2010, after the disaster that happened in the Deepwater Horizon, Helix aided in capturing a portion of the four million barrels which cascaded from Macondo well.

Visit More : www.indeed.com/cmp/Talos-Energy

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