The U.S. based firm specializes in the exploration and production of oil and natural gas. Late last year, it was listed in the New York Stock Exchange. The move was after merging with a company known as Stone Energy. The transaction was estimated to have cost about $2 billion. The boards of directors at the two firms approved the merger. The new company was to be called Talos Energy, Inc. and the main objective would be offshore exploration and production of energy. According to the agreement, 63% stake would belong to the Talos shareholders while the remaining part would belong to those at Stone Energy. The stock prices of Stone Energy at the time of the merger was $35.49.
The management at Talos Energy disclosed that the firm had an equity market capitalization with an estimated value of about $1.9 billion. The enterprise value was valued at close to $2.5 billion. The two firms agreed that they would have their headquarters in Houston, Texas. The Chief Executive Officer of Talos Energy expressed his confidence that the merger would benefit the shareholders as their scale of operation would increase. Due to the combination of assets, the combined organization would have a good liquidity level. The company has been a market leader for many years due to the adoption of innovative strategies that have earned it a competitive advantage in the market today. The management has also focused on venturing into new areas that the other industry players would not dare. Most of its exploration activities are in the Gulf of Mexico and the Gulf Coast Region.
One of the other features that have set the company apart from the others is the vast experience and knowledge among the personnel. Some of the workers are geological and geophysical experts. Talos Energy was honored in 2017 during the annual exploration awards. The recognition was for its efforts to make a positive difference in the energy sector. It recently made a discovery of oil in offshore Mexico. The Zama oil was expected to have a great impact on the firm as the production capacity was estimated at 1.4 and 2 billion barrels.