Talos Energy, Asset Development Through Merger

Talos Energy Inc., a houston-based independent oil and gas production and exploration company, has won the 2017 Discovery Award by discovering zama oil offshore in Mexico during the month of July 2017. This discovery, utilizing an offshore exploration well, was the first Mexico based drilling by the private sector. Between roughly 1.4 billion and 2 billion barrels of oil are expected to be extracted from the well, Talos energy holds 35% of interest in the block.

Partners of Talos Energy, Sierra Oil and Premier Oil, hold the remaining 40% and 25% of Interest. On May 10th 2018 Talos energy completed its pre-announced merger with the Stone Energy Corporation and began trading on the New York stock exchange; this benefits shareholders through increased liquidity and an increased scale.

Under the ticker symbol TALO the company is on track to capitalize on their high quality portfolio, potential business development opportunities, and programs in the United States Gulf of Mexico and offshore Mexico capital focused returns. Through this merger Talos energy and stone energy corporation, TALO, have a brand new credit facility agreement with a base of $600 million dollars borrowed.

The merged company has a liquidity a $450 million dollars and plan to provide detailed financial and operational guidelines in the future. Shortly after the merger, in the month of August 2018, Talos Energy made a huge impact during the latest Gulf of Mexico lease sale. Purchasing 75,000 acres for exploration and development the company was in the top five bidders in the sale.

The acquisition included 6 deep water blocks and 8 shallow water blocks with a combined price of $5.3 million dollars. The independent tech-driven company has a 100% success rate on all 14 properties and plan to further explore, exploit, and develop their assets with plans to acquire more properties in the future.

For More info: www.indeed.com/cmp/Talos-Energy

Talos Energy, Asset Development Through Merger

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