In the state of Texas to of the largest energy providers just completed a merger last week. Talos Energy has now entered public markets after its acquisition of stone energy on 10 May. In addition, BP energy partners have decided to raise $475 million in a private equity fund.
There have been a number of significant moves by companies in the energy industry of Texas in the last month. A $6 billion merger was just closed with the Chicago Bridge and iron company that resulted in it being taken off of public markets. Over the last several years it has lost significant amounts of its market capitalization. It has two years left on a lease for its headquarters in Houston and plans to move into a new facility after the lease is terminated.
Talos Energy has just finished the final touches on its merger with Stone Energy Corporation. This acquisition has allowed the offshore exploration company to be sold on public markets. Talos Energy shareholders owned 63% of the company after the acquisition while stone shareholders carry the remaining 37%.
Talos Energy is a company that operates in the oil and gas industry. They primarily are involved in the exploration, development, and production of both oil and natural gas. These processes are typically focused in the Gulf Coast and the Gulf of Mexico. In 2012 the company was originally founded after a $600 million equity raise was completed by a fund management company. In 2017 Talos Energy was able to announce that the exploratory drilling had been able to uncover nearly 2 billion barrels worth of light crude oil. This represents a significant discovery by the corporation and promises to help propel it into the future for the next several years. As a result of this, it has been able to raise the funds it has needed in order to undergo such things as its recent acquisitions. To know more about the firm click here.