In 2012 entrepreneur Timothy Duncan founded Talos Energy, a Houston-based gas and oil exploration company leveraging $600 million in equity by way of Apollo Global Management and Riverstone Holdings.
Fast forward to 2017 and Talos Energy was making history by drilling for oil in the Gulf of Mexico. Drilling in the Gulf is nothing new, but Talos was an American company drilling in Mexican territory. No non-Mixican oil company has drilled there since 1938 when that country nationalized its oil industry.
Mexico, in a move to revitalize its oil exploration industry, granted Talos Energy along with two partners to sink a well off the coast of Tabasco. Joining the project were Premier Oil of the United Kingdom and Sierra Gas & Oil, a Latin American firm.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
The well struck pay dirt. Dubbed the ZAMA-1, the drilling discovered what may be as much as 2 billion barrels of light crude oil. It remains to be seen what the actual output of ZAMA-1 will be, but industry experts say its possible the well may bring forth 425 million barrels of crude.
Making such a find just five years after Tim Duncan opened the doors on his company bodes well for its future. Duncan said Talos Energy is an enterprise that is driven by innovation, high technology and a willingness to go looking for oil where other operators have no interest. Duncan wants to extract gas and oil from sites others say are “unworkable.”
To those who take high risks come big rewards — at least that’s what the Talos Energy team is banking on. But the company is not just sitting on its heals. It has recently moved to bolster its position and infrastructure. To that end, Talos recently moved to acquire Whistler Energy II. It also merged with Big Stone energy. Both transactions bolstered company infrastructure and capitalization base.
Details Talos : https://www.facebook.com/talos.energy/