Talos Energy started with six hundred million dollars in equity and has steadily been growing there assets in the Gulf of Mexico. Talos Energy was not Tim Duncan’s first company, Phoenix Exploration was a success even during the economy crisis of two thousand and eight. With Tim at the helm it survived and thrived, it was eventual sold to Apache Corporation in twenty eleven. Tim’s hard work ethic lead him to create Talos Energy after selling his former company.
His leadership and management skills have lead Talos Energy being names the best work place among small businesses according to WorkplaceDynamics. With a hard work ethic Talos shares in this philosophy by providing a piece of the equity pie to its employees to encourage talent form its workers. Its growth is also amazing, recently acquiring Helix Energy Solutions for six hundred and twenty million dollars and expected to make more acquisitions in the near future. Talos is very much a bring the ideas kind of place. Being a private firm is more entrepreneurial and has more spirit and energy than a public firm. There is also more respect and a treatment that everyone is your comrade.
Another remarkable achievement is that recently Talos Energy, in partnership with Premier Oil and Sierra Oil and Gas became the first private company to offshore oil drill in Mexico in almost eighty years since the industry was nationalized in nineteen thirty eight. In an attempt to bring back foreign investment into the markets in Mexico the government allowed bidding for the first time in twenty fifteen. Only three companies succeeded in there bids and Talos Energy was one of the lucky few.
The well being drilled in the Sureste Basin is expected to produce between one hundred million and five hundred million barrels of crude and is expected to cost around sixteen million to drill. As a first to be drilled in Mexican waters the well will be watched closely, and is expected to have high degree of geological success according to Edison Investment Research. With the potential for the Mexican market and profits for Talos Energy the opportunities are boundless.