The Fortune Of Talos Energy Company

The Fortune of Talos Energy Company

Oil is one of the commodities that are mostly used all over the world. Being one of the most demanded commodity all over the world oil prices have never been stable because they keep rising and dropping depending onĀ  supply. A country that has enough oil to supply to other countries has been able to develop at an alarming given the constant demand for oil. Although the demand for oil has always been high regardless of the hiked prices, they are several consequences of increasing oil price. When the price of oil goes high, both the investors and companies normally feel the impact equally.

Although most people believe that increasing the price of oil brings various benefits to a country, economic analysts do not share the same thoughts. While many people that lowering price of oil will bring the cost of living down in a country because companies that rely on oil will spend less on oil hence bringing down the cost of their commodities and process benefit the average citizens; economist experts point out that for a country that majorly depends on oil like the United States shall be greatly affected. However, independent oil companies have made a fortune with the constant rise of oil prices. Talos Energy is one of the companies that deal with the extraction and supply of oil in Texas.

Brief Description of Talos Energy

Talos Energy is an oil producer in Texas that have majored in the extraction of oil and supplying them to the people around. The company has been able to run smoothly and successfully for many years due to the presence of a management team that has a vast experience and knowledge in oil exploration and production. The success of Talos Energy Company has also been contributed by their expertise in the acquisition of shelf that is already operating and also developed deep water properties that have been able to earn the company a lot of returns. The company has been able to gain the control of most operations in areas around the Gulf of Mexico and also the Gulf Coast region.

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Tim Duncan And Talos Energy — Risk Takers And Betters On Gulf Of Mexico Oil Revenues

Forty-five year old Tim Duncan is a risk taker at heart. Son of an oil-company man, Duncan spent his growing up years in Egypt, Florida and Texas. Some of his colleagues, however, would say he has the flare and panache of a New Yorker. Jerry Schreller, a managing Director at Citi, who has worked with Tim Duncan for years, states: “For Tim, crises are an opportunity.”

Today Duncan serves as the CEO of Talos Energy, and has proven that this risk-taking spirit can pay off. Recently Mr. Duncan and his ventures with Talos Energy were covered in an article in Forbes magazine (see: “Deepwater Wildcatter: Meet Talos Energy, The New Gulf of Mexico Pure Play” — by: Christopher Helman, Forbes, May 31, 2018 https://www.forbes.com/sites/christopherhelman/2018/05/10/deepwater-wildcatter-meet-talos-energy-the-new-gulf-of-mexico-pure-play/#2da8244352ff ).

The article outlines a number of high risk, yet ultimately profitable, bets that Talos Energy (“Talos”) has made in the off-shore drilling market. Under Mr. Duncan’s leadership, Talos Energy resisted the temptation, exercised by many other oil companies, to make a land grab for easier sources of petroleum resources and revenue. On the mainland in the southern United States lies the Permian Basin. Here new technology, such as hydraulic fracturing, has been applied to old resevoirs to produce new yields, profitably and at lower risk than off-shore drilling. This land race became most pronounced after the Obama administration implemented an off-shore drilling moratorium following the British Petroleum (BP) catastrophe.

In a contrarian move, Duncan founded Talos in 2012. In 2013 Talos acquired the Phoenix field in Gulf of Mexico. His bet was on the Gulf being the biggest oil province in the nation, next to the Permian Basin. Duncan and Talos Energy made some savvy investments, as offshore oil companies like Fieldwood Energy and Energy XXI limped toward bankruptcy. Talos was able to pick up assets for pennies compared to their peak market values.

Winding forward to the present day, Talos has been able to reap the benefits of their seemingly risky investments. President Trump has authorized more off-shore oil exploration in the Gulf of Mexico, and the future looks bright for Talos Energy.

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