There was big news earlier this year when Talos Energy and Stone Energy Corporation completed the much-anticipated merger that was announced last year in 2017. At the completion of this merger, the combined company began being traded on the NYSE as “TALO”. With the commencement of this merger, the new combined company will have their main headquarters in Houston, Texas. Their Chief Executive Officer Timothy Duncan believes that their shareholders will see a lot of benefit from this merger.
By combining Talos Energy and Stone, there is much more liquidity for the company as long as an increase in their scale. They are poised to be able to capitalize on the assets in their portfolio as long as their programs in both Mexico and the United States. With this merger, there is a lot more potential for significant business opportunities. This merger may have been a great deal of work for everyone involved, but it is appreciated and recognized by the CEO of Talos Energy.
Some of the details of the merger include an agreement for a $600 million credit facility in which $300 million was available when the merger was completed. Currently, Talos Energy has available liquid cash of $150 million and a liquid assets total of around $450 million. More details of the merger will be released as time goes on. The merger is expected to help both businesses increase their revenue and Stone will be an important part of the portfolio of Talos.
Along with news of a merger, Talos Energy also made headlines for being one of the best places to work in Houston. The Houston Chronicle named them as one of 2018’s Top Work Places. There were many factors that were taken into mind when choosing the companies that made this list. While Talos has fairly average wages for their employees when compared to other businesses in the area, each employee is considered an owner of a small part of the company. When the company does well, they are rewarded and therefore motivated to work hard so everyone on their team can succeed and do well financially.
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