How Tim Duncan Of Talos Energy Completed A Merger Despite Hurricane Katrina

Talos Energy Inc. is a Houston-based publically trade company. They explore for oil and then drill for it offshore in the Gulf of Mexico. They have operations in both the Mexican and American sides of the gulf and were one of the first companies in the world allowed to explore for oil in Mexican waters in 50 years after that nation opened up its oil industry beyond the state-run monopoly that had been in place. This company was founded by four business partners who are Timothy S. Duncan, John A. Parker, Stephen E. Heitzman, and John L. Harrison.

Tim Duncan is Talos Energy‘s chief executive officer. He says that like many people he was personally affected by Hurricane Harvey in 2017. The streets around his home were unpassable due to rising waters and the power had gone out. He had to wade through water that was waist-high in order to get his wife, his 6-year-old son, and his two dogs as well into a FEMA rescue boat that had arrived to get people out and more

For months prior to this he had been working on a business deal that would transform his company. He wanted to merge his company with another one in the industry, Stone Energy. At the time Talos Energy was privately held while Stone Energy was publically held. By merging with Stone Energy Tim Duncan says that he could take his company public while at the same time not dealing with all of the expenses that go into an initial public offering.

Despite the difficulties going on in his personal life Tim Duncan said that he refused to use Hurricane Harvey as an excuse to not getting this deal done. He was able to get his family flown to Alabama and then he returned to Houston, Texas. He was able to stay at his parents home which was above flood waters. He says that he negotiated the deal with Stone Energy executives from his parent’s dining room table. The deal was concluded in May 2018. Talos Energy now generates $900 million in revenue a year and has $2.3 billion in assets against $700 million it has in debt.

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