Talos Energy Merges with Stone Energy

In the Gulf Coast of Mexico, there exists one American company which on its own has property of 33,000 miles of seismology data in regards to the distribution of wells under the water in the Gulf of Mexico. Founded in 2012, Talos energy operates just under Louisiana and also off the coast of the United States in the Gulf of Mexico. They use their information to better streamline the way of procuring interesting locations to map out and drill holes. For scores of years, the technological advancements have increased and so have the ways in which all drilling companies manage their wells, find new ones, and drill. These new innovative ways have produced results that yield a lot of higher productiveness in the drilling and exploring; this pertains to companies all over the Gulf.

Taking advantage of these increases in technology, Talos has consistently been picked to be one of the best places to work in Houston between the years of 2013 and 2017. This is all thanks to the Houston Chronicle, which is the largest news organization in the city of Houston, Texas.

Most of the business dealings of Talos Energy happen in the Gulf Coast between New Orleans and Houston. Since virtually all the oil companies know each other in the area, Talos formed a relationship with Stone Energy and merged with them in a 1.9 billion dollar merger. Currently trading on the New York Stock Exchange under the symbol SGY, Stone energy has merged into a new company called Talos Energy Incorporated; Talos Energy Incorporated will be tradable under the name TALO.

According to the CEO, Timothy S. Duncan, this merger will position Talos to become a very high quality exploration, drilling, and oil production company. Once combined, it will allow both companies to operate at a faster rate of speed and more efficiently, while covering more ground as the new combined company will have 1.2 million acres worth of data under their ownership. Current stakeholders of both companies will see different percentage shares of ownership in the newly merged company. The current Talos shareholders will own 67% of the new company shares, and Stone Energy employees will own 37% of the new company shares. Last year, Talos was producing 47,000 barrels of oil per day even without Stone Energy.

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