As per a recent announcement, Talos Energy, a notable name in the energy industry is undergoing a number of changes, particularly with relation to the acquisition that the company is going through with. As the announcement states, Talos Energy is all set to acquire Louisiana based Stone Energy. The addition has not yet come into play but is said to be completed by the early months of 2019. This, however, is subject to change depending on different factor within both companies.
The acquisition was something that Talos Energy needed for the growth and development of the company as a whole. The company wanted to become a name that stands out in the energy industry, and for that, the pool of resources that they have would have to increase. The only way for Talos Energy to achieve their goals of standing tall in the industry is through the acquisition of a company that has the resources that they need. Things like workforce, energy, and technology from Stone Energy will be brought over to Talos Energy, which can help them drastically improve the work that they do. Additionally, the company will also have better financial flexibility. Because of the acquisition, the companies will have an increased amount of economic power, which Talos Energy plans to use to fulfill their expansion goals. The company has some developments that its leaders want to push for, and the acquisition is just another step towards realizing those goals.
Acquisitions have always been one of the core ways in which Talos Energy develops. This acquisition is not the first one that the company is undertaking. Several other companies have decided to join forces in the past with Talos Energy, which has been nothing but beneficial for the company as a whole. Big names like Helix Energy Solutions and GOM Inc have decided to go ahead with acquisition deals with Talos Energy, which has improved the production and manufacturing that takes place within the company.
Timothy Duncan, the CEO of Talos Energy came forward to talk about the acquisition and his thoughts on it. In a press conference, he mentioned how this new endeavor will benefit the company and was a much-needed step towards future developments of the company. Duncan will retain his position as the CEO of Talos Energy even after the merger and will continue to carry out all of his functions even while the company is undergoing major developments.