The Exploits Of Tim Duncan And Talos Energy

Tim Duncan, the founder and chief executive of Talos Energy, pursues the principles of new capital, new partners, and continuing ingenuity which have been set forth by the recent round of energy reform. Talos Energy believes that new ventures lead to more competitive pricing local jobs for the communities that need them the most. He operates in a very non-traditional manner and in a recent Forbes article he has been referred to as one for whom “crises are an opportunity”.

An example of his risk taking is the merger between Talos and Stone Energy Company in the midst of massive flooding and evacuations in Houston caused by hurricane Harvey. Even under optimal circumstances the deal was a gamble because Stone Energy was bankrupt with debt of $800 million dollars. However, Duncan saw the potential of $2.3 billion in assets and finally negotiated the deal from his mother’s dining room. This merger changed Talos Energy from a private company to public entity without having to do a public offering.

The new Talos Energy drills in the Gulf Coast even though drilling platforms in that area are much less stable and much more expensive, and spills are more frequent. But these wells produce for longer periods of time and Duncan’s ventures have proven to be successful. The industry has confidence in his company and, in May, he had already sold 80% of the company’s 2018 assets. Duncan continues to pursue new opportunities by drilling on the Mexican side of the Gulf. His company constructed the Zama-1 platform which is the first offshore exploration well drilled by a private oil company in Mexico’s history. Once again, Duncan’s efforts and exploration paid off with an oil strike in 2017.

Tim Duncan began his career in oil in 1996 with a job at Zilkha Energy. Even then he was interested in the seismic activity in the gulf area. After working for a number of other companies, he founded Talos Energy in 2012 so that he could pursue his gulf interests. His success is a testament to his boundless energy.

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