The oil and gas company has once again made its family bigger! At the fourth quarter of 2017, Talos Energy, LLC bought Stone Energy Corporation, making everything official April 2, 2018. Their combined shareholders will keep their ownership making a value to be approximately 2.5 billion dollars. Unlike some companies that merge, Talos created a board members from their company as well as Stone’s to make sure there’s an even balance where decisions are made.
Stone Energy was founded in 1993 in Lafayette, Louisiana as an independent oil and gas company. Unfortunately they took a risk on its finances and assets by filing bankruptcy in 2016. Even though they were acquired by Talos Energy, they have not allowed it to slow them down at all. They have announced drilling in the Derbio exploration well reached its final depth April 24, 2018. A few days later, they entered an asset purchase agreement with ExxonMobil, Shell and Anadarko. This marked an 100% working interest in the Ram Powell Unit. This huge field gives them more space to drill and provided the best barrels of oil they can find. Because of the merge with Talos, they had to sign off on it and they did with no problems.
Talos makes it their responsibility to stay committed to impacting the community where their employees live and work. They give their time and resources to blood centers, food banks, and other local organizations. In 2017, $105,000 was given to the Hurricane Harvey Relief Fund and over $500,000 has been raised for charities for several years. They want the world to know that they are here to make a difference by improving the needs of those who have less than others.
Talos Energy has acquired other companies in the past, making it one of the leading oil and gas industries in this millennium. It will continue to strive with this growth potential in making sure this country has the highest quality of service rendered. With operations in the Gulf of Mexico, it made a common goal for the CEO of Talos Energy, Timothy Duncan, to accelerate development while exploring various opportunities. Its headquarters is now based in Houston with additional offices in New Orleans and Lafayette Louisiana. Although they have competed with several companies for offshore businesses in Mexico, it has continued to stand firm and make sure they don’t go anywhere, anytime soon.