Located in Houston, Texas, there is one United States company that by its own accord has ownership of 33,000 miles worth of seismological information related to the layout of oil wells below the ocean in the Gulf of Mexico. Founded in 2012, the company named Talos Energy conducts business in the Gulf of Mexico between Louisiana and Houston; The company uses this information and data to more accurately predict the best way of producing oil from the ground and drilling it out. For about 70 years, the advancements in technology have dramatically gone up, and also the methods that most drilling companies maintain their findings and drillings have as well. These brand new and clever methods have yielded results with much more successful productivity levels in the exploration and drill processes. [This is specific not only to Talos Energy, but to all drilling companies.]
Having taken advantage of the benefits related with this advancement in age and capability, Talos has year-over-year been hand-chosen as one of the best companies to work for in the city of Houston according to their largest newspaper, the Houston Chronicle. Talos Energy was founded in 2012 and has been receiving the awards ever since 2013 up until 2017 last year.
A majority of the business interactions that Talos Energy has with respect to drilling occur just off shores of New Orleans and Houston: Virtually all of the gas and oil companies are familiar with each other in the region. Talos has created relationships with companies around, such as Stone Energy, and in fact have merged with Stone in a 1.9 billion dollar acquisition and merger. Trading under the symbol SGY on the New York Stock Exchange, Stone Energy has merged into a brand new Corporation titled Talos Energy Incorporated. Talos Energy Incorporated will soon be tradable under the ticker TALO.
According to the Chief Executive Officer of Talos, Timothy Duncan, this acquisition and merger will place the company in a position to sustain a higher level of exploration, Drilling, and petroleum production that has not been seen before. When the two companies merge, this unity will allow both of the companies to operate synergistically and more effectively at a higher rate of speed while also covering more ground in terms of more production and discoveries. Present-day Talos shareholders in the stock will own 67% of the newly formed company, and previous owners of the Stone Energy stock will receive 37% percent of the new stock.