Talos energy is a self-reliant, technically driven, research and a manufacturing company that carries out its functions in the Gulf of Mexico. It was formed in collaboration with Apollo Global Management with the aim of obtaining resources in the Gulf coast and regions of Gulf of Mexico. Talos Energy took part in the business creation activities such as farm in’s that uses 10.2million acres to increase the benefits of a business. The firm has recorded some competitive advantages in the work programmes that enhance the working morale of its employees.
The management has developed and sold two preceding private firms that brought remarkable profits to their investors. Being a determined group that has worked together for more than a decade, the management has developed a good record of boosting mature fields by use of unfamiliar methods to create an essential portfolio of investment chances. Therefore, this has resulted in a significant research and manufacturing firm in the U.S.
In its merging up with the Stone Energy, Talos Energy believes that it will have a large scale of resources investment that will help it outdo its competitors. The merger will create a skilled team and a strong financial position to raise the cost of shareholders. The business shows the best pinnacle of Stone’s preceding announced review process and creates a motivating chance for our shareholders to enjoy from the remarkable cooperation of the merged firm.
Besides, merging up gave Talos and Stone an opportunity to expand their offshore manufacturing and research abilities by amalgamating their resources. Therefore, this will lead to a fast expansion in the future developments of the firm. The merging has resulted in an essential goal of becoming the leading offshore research and manufacturing company. The process will be made possible by the summed-up talents and the availability of enough technical resources. Talos Energy will be strategically located to drive meaningful production growth.
The organization has been ranked the top workplace in Houston Chronicle. From an analysis, the employees admit that Talos Energy is the best place to work in.
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Talos Energy is a company that is technically driven production company. The company has its operations across the United States Gulf of Mexico, as well as along the shallow waters located off the coast of Mexico.
At the United States Gulf of Mexico, the company’s primary focus is the exploration, acquisition, and development of deep-water and shallow assets located near the existing infrastructure. On the other hand, the shallow waters off the coast of Mexico are to provide the company with the high impact exploration opportunities at the now emerging basin. The company’s primary strategy is to explore and exploit the Gulf of Mexico and the Gulf Coast region.
Career Opportunities and Benefits at Talos Energy
Talos Energy has been a fast-growing company that offers career opportunities in the areas of exploration, production as well as corporate disciplines such as accounting, marketing, and management. Moreover, the company offers competitive benefits such as having flexible work schedules that advocate for a work/ life balance, as well as numerous opportunities for advancement. Aside from just the competitive advantages that the company offers, it is a nice place to work. Talos Energy has been ranked from 2013- 2017 in the Houston Chronicle as a Top Workplace.
Approval of the Appraisal Plan for Talos Energy
On May 18th, 2018, the National Hydrocarbons Commission (CNH) which is Mexico’s oil and gas regulator approved the appraisal plan for Talos Energy. The appraisal plan included three new reservoir penetrations, where the first well, Zama-2, was to be deepened by about 500m to test the exploration prospect named Marte. According to Talos Energy, the estimated share of the cost to increase the well is $3.5 million, of the estimated Talos Energy’s gross of $10 million. The approval of the appraisal plan was a critical approval that was required for the commencement of Zama discovery’s appraisal.
Talos Energy estimated that it would drill the first appraisal well in the fourth quarter of 2018 and that the appraisal program would be completed by mid-2019. Talos Energy’s president highlighted that approval of the appraisal plan was a move towards the scheduled investment of Zama project by Mexico, whose initial production is expected in 2022, thereby creating as many jobs for the people as possible.
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During the end of August 2018, Talos Energy exited most investors who own a stake when it announced a merger with Whistler Energy. Through its CEO Duncan, Talos revealed the plan to purchase a majority stake in Whistler Energy great assets. At the time of this announcement, the daily production of Whistler assets stood at 1900 barrels of crude oil per day. This acquisition is an excellent addition to Talos Energy Asset portfolio and a great benefit to all its shareholders.
The Purchase involved a $52 million cash payment to Whistler Energy as part of the deal and promised to release an addition $77 million. The acquisition saw Talos Energy benefit for $7 million balance at Whistler Energy by the time the contract was being closed. However, Whistler energy received a $100 million cash payment in different transactions.
The total acquired assets represented a significant majority control of working interests in three major blocks. This block includes Central Gulf of Mexico – Green Canyon 18, Ewing Bank 988 and Green Canyon 60. This means that Talos Energy acquired the entire Green canyon 18 which has an approximate 16, 494 acres. The Green Canyon 18 area was initially owned and developed by ExxonMobil but later bought by Whistler Energy in the year 2012. Collectively the reservoirs produced above 117 million barrels at the time of acquisition.
The merger is part of the comprehensive scope strategies that have seen Talos Energy license the old azimuth seismic data. This data will be used in remapping the current producing reservoirs with a hope that more drilling points will be discovered. Also, on the recent sale of the federal lease in the Gulf of Mexico Talos emerged as the highest bidder. The Leases comprise at least three drilling prospects that could benefit the company through the GC18 production plant.
In a statement, the CEO of Talos Energy expressed his excitement about the bold move to acquire Whistler Energy. He also added that the company had set plans to increase their field studies in the mapped fields to assist in locating promising drilling locations. The Chief Executive Officer explained that the acquisition of Whistler had enabled them to widen the opportunities in the fabulous Green Canyon area.
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