Tim Duncan could be described as a businessman, entrepreneur, and a maverick. If this were the old west, he would be the gunslinger at the poker table raising the bet, but Duncan is much more than a maverick, he’s a respected businessman and CEO of Talos Energy, an oil drilling company that specializes in offshore exploration and drilling. Talos Energy produces up to 48,000 barrels of oil per day, but in order to meet that amount of production, Duncan couldn’t afford to play it safe or walk the beaten path.In an effort to take Talos energy Public and grow his company without the high cost of a public offering, Duncan orchestrated a merger between his privately held company and Stone Energy.
It was a huge undertaking, and the fact that Stone energy was bankrupt did nothing to stop Duncan from completing the $2.5 billion merger of Talos Energy and Stone Energy. After completion of the merger in May, Duncan’s company will have an annual revenue of $900 million with the majority of the company’s assets located in the Gulf Of Mexico. It’s a risky endeavor to drill offshore and even more risky to drill in waters not owned by the United States, but risks and tough situations are nothing new to Tim Duncan and Talos.One of the company’s biggest assets is a drilling platform located 156 miles south of New Orleans.
In 2005, Hurricane Rita capsized the platform sending it drifting 60 miles into the gulf. Talos cleaned up the mess, and the platform now produces 16,000 barrels of oil per day. The company expects that output to grow after making new discoveries 3,000 feet deeper than the old reservoirs.Talos Energy is led by a unique management team that not only have the skills and knowledge for offshore exploration and drilling, they have the guts to go where most men fear to tread. Talos uses the latest cutting-edge technology along with advanced techniques for offshore exploration and drilling that have given the company a reputation for success.