Talos Energy is focusing its efforts on offshore drilling in the Gulf of Mexico. Talos Energy feels that it is in a unique position to be successful due to its long history and experience along with using the most technologically advanced reprocessing techniques.
Tim Duncan, the chief executive of Talos Energy, was in talks to complete a merger with Stone Energy before Hurricane Harvey stalled the talks. It is not the first hurricane that has threatened to derail an oil drilling operation. In 2005 Hurricane Rita destroyed equipment off the coast of New Orleans, but Duncan stepped in to take over the drilling, and now it is pumping 16,000 barrels a day.
Duncan is now in charge of an operation that oversees $900 million in assets. While drilling in the Gulf of Mexico has traditionally been a risky business, Duncan sees the risk as worth the reward. Along with the normal risks that accompany drilling, Mexico is also a gamble because of its political situation. They do not offer the same security as waters under American control. Tim Duncan has a long history in the oil business. He grew up in an oil family, and he has leveraged that into a career running some of the biggest oil operations in the world. His shrewd business mind has already resulted in Talos Energy selling 80% of the oil on the futures market.
He knows there are safer bets in the oil business, and while Talos Energy’s rivals are drilling in the easier waters in the Permian shale, Duncan is looking for opportunities that will keep delivering for the next decade. In a partnership with U.K.-listed Premier Oil and Riverstone-backed Sierra Oil & Gas, Talos Energy has discovered a site that could yield up to 2,000,000 barrels of oil, and it could be up and running in the next 5 years.
Duncan sees opportunity in everything, and even after Hurricane Harvey, he knows that there is always something great up ahead.
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