The flood waters were rising and Hurrican Harvey was not letting up, and neither was Talos Energy CEO, Tim Duncan and his pursuit to negotiate a merger with Stone Energy, a recent bankrupt oil company. Like many in Houston, Tim Duncan’s family and home were affected by the recent floods, so much so that his family had to be evacuated by FEMA boats. Having to leave his home and deal with potential damage to his home was not the ideal situation to be in when negotiating multi-million dollar merger, however, Tim Duncan refused to use that as an excuse to not close the deal. With his family at his side, Tim Duncan would bunker down at his mothers Houston home (One of the few dry areas of the city) to get the job done. Covering his mother’s dining room table with financial papers, books, and his laptop, Duncan settled himself into work day and night until the job was done.
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
After days of hard work and taking over his mother’s table, Tim Duncan had finally come a deal with Stone Energy Company. The merger was a huge win for Talos energy as it allowed the company to be a public entity without the having to go through the expensive task of a public offering. The merger would now allow Talos Energy to have a large presence in Gulf of Mexico. Although having assets in the Gulf holds a high risk due to hurricane damages and a shady political environment from Mexico, the fact that Stone Energy only holds 700 million in debt with $2.3 billion in assets is enough to move on with the merger.
Talos Energy has been compared recently to a classic wildcatter, places themselves in risky areas not only in the United States but in other parts of the world as well. Jerry Schretter of Citi comments that the amazing courage success of Talos energy comes from Tim Duncan himself, in fact, Jerry Schretter believes that Duncan thrives in crisis situations.
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