Talos Energy LLC and Stone Energy Corporation have announced that they have merged to create the premier offshore exploration and production company. The company will be called Talos Energy, Inc. and will trade on the New York Stock Exchange market under the symbol of TALO. Both Talos and Stone stakeholders and shareholders come out winners, but Talos will have the monetary upper-hand. Talos stakeholders will have a larger share of the new company and the shareholders from Stone will have a lesser share but still retain a fair portion. The Talos financial figure is a little over $1 million with a corporate venture value of over $2 million. The former Talos Energy company was a successful gas and oil exploration/production company with independent operations on the United States side of the Gulf of Mexico and reserves off of Mexico’s rich coastline.
Talos was the only exploration company that controlled this area with innovative equipment to explore, acquire, and develop the deep-water mineral enrichments in the Gulf. With the Stone merger, Talos Energy, Inc. will have a larger acreage in the Gulf of Mexico with thousands of barrels of oil and millions of oil reserves being produced daily.Prior to the merger, Stone Energy Corporation was also a exploration company which produced gallons of oil and natural gas. Stone Energy was headquartered in Lafayette, Louisiana with other offices located in New Orleans. Stone Energy added additional acquisition in the exploration, development, and production of properties in the oil rich basin of the Gulf of Mexico.
The managerial level consists of a Chief Executive Officer who will come from Talos Energy and the board members will be a mix of Talos and Stone members with a majority of the directors coming from Talos. The new Talos Energy firm will have its headquarters in Houston, Texas, while Lafayette and New Orleans, Louisiana will have additional offices.Top managers of Talos Energy stated the enjoinment with Stone Energy brings together top talent, quality resources, and a positive financial statement whose results will produce advanced project inventories including the ability to seek new negotiable and exploration possibilities. Successful acquisitions seem to be Talos’ nickname because in 2013, the company purchased Energy Resource Technology which is an oil and gas subsidiary of Helix Energy Solutions Group in Houston. Then, in 2015, Talos won a Mexico shallow water exploration rights and it yielded billions of barrels of oil.