Tim Duncan is the chief executive officer of Talos Energy, an oil and natural gas production company. In 2017, Tim was deep in negotiations to obtain the public, yet failing company, Stone Energy. During this time, Hurricane Harvey began wreaking havoc on the city of Houston and as the flood waters rose, so did the tension.
He knew that he could not allow the flood to be an excuse to fail, so he toted his family to a FEMA rescue boat in waist-high waters, and headed for his parents home in a high and dry place in the city. It was from his mother’s dining room table that Tim would continue to negotiate the $2.5 billion mergers with Stone Energy, and ultimately, it was also where he would find success. Because of Stone Energy coming with a public status, Tim Duncan was able to flip Talos Energy into a public entity as well without causing the public any money.
Saving funds was especially crucial for the people of Houston during such a difficult time. Though it might seem like a risky move for Duncan to obtain a company that floundered and inevitably failed, he was never one to shy away from a challenge. With the two combining, the new company is now producing roughly 48,000 barrels of natural gas a day, and they anticipate far more significant numbers in the future.
Stone Energy may have come with a staggering debt of $700 million, but they also boast a massive $2.3 billion in assets. Coming out on top is nothing new to Tim Duncan, for years the thriving businessman has lingered around failing oil production companies just waiting for them to sell their shares for cents on the dollar.
Once he obtains one of these, he drills new wells and exploits the area to turn a profit. Shareholders can find comfort in Mr. Duncan’s wild tactics by looking at the successful moves he has taken in the past. Now that he owns the majority of oil fields in the deep waters of the Gulf of Mexico and along the Gulf Coast, Tim is sure to lead Talos Energy to the top of the market!