Tim Duncan Leads Talos Energy To Greatness
Tim Duncan is CEO of Talos Energy. He enjoys the challenge of building something that most think can’t be built. Texas based Duncan has been working on brokering a deal to acquire the bankrupt Stone Energy Company while working from his parents home in Houston after his own home was flooded during hurricane Harvey. This acquisition will allow Talos Energy to be a public entity without the added cost of public offering. It also brings to the table existing offshore infrastructure crucial to the success of Talos Energy.
The Talos Energy assets after the merger while lie almost entirely in the Gulf of Mexico. Talos Energy has concentrated its efforts to gain oil exclusively from offshore drilling, instead of joining in on onshore fracking. This strategy can be risky as drilling offshore is very expensive, has a high chance for accidents, and the oil is never guaranteed. However, once a well is discovered they can extract oil from a site for many years. Onshore fracking is much less risky, the oil is almost guaranteed once a site is identified, but the sites will only produce for a few years.
Tim Duncan began his career in 1996 working for companies like Zilkha Energy which found success when they predicted the advances in offshore seismic imaging and Gryphon Exploration which was able to capitalize by using existing infrastructure to drill new wells. He was a co-founder of Phoenix Exploration which discovered the Belle Isle Field. When he founded Talos Energy in 2012 he had the connections and expertise to form a winning company. Talos Energy often acquires existing offshore infrastructure to explore new possible wells. This cuts down the cost, risk and time in building it’s own platforms and drills. Duncan’s smart approach to the high risk, high reward world of offshore drilling has lead Talos Energy to it’s position today.
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