At the risk of sounding dour, the gas and oil industry is struggling. You’d think with the booming economy in the United States of America that there would be a rising tide impact on oil and gas but that just isn’t the case. Still, despite the tumultuous downturn of the energy industry, companies like Talos Energy LLC are doing their best to weather the storm while also pushing forward. In fact, in an industry where everyone seems to be struggling, Talos Energy has managed to bypass said struggles in order to make some serious gains over the past year. Timothy Duncan, President & CEO at Talos, has been all over the headlines as his company continues to post great numbers and it all goes back to the Gulf of Mexico.
In 2017, Duncan’s company was awarded a prestigious, barrier-breaking honor. Talos Energy was awarded a 35% share in the discovery the Zama-1 well off of the Gulf of Mexico. shared among two other teams, Duncan’s company would go on to become the first American private investor in Mexico’s nationalist oil and gas industry. It didn’t hurt that the Zama-1 well was a huge discovery with the potential to produce up to 2 billion barrels of oil throughout its operation. While this might make it sound like Talos Energy struck gold, the truth is anything but. In fact, Duncan’s goal was always to aim at offshore wells in foreign markets and wouldn’t you know it, his aim was true.
Formed in 2012, Talos Energy was started up by three investors who had a history together. Tim Duncan, along with John Parker and Steve Heitzman, decided to put together the work required in order to start up an energy company that took a different approach. Their goal from the beginning was to focus on public markets in both domestic and foreign waters. In essence, Duncan wanted to create what he called a ‘leading offshore independent E&P company’. With the 2017 ‘Discovery of the Year’ award on their mantle and a rich new contract from the Gulf of Mexico, it seems like their team is succeeding with ease. original source