Talos Energy is based in Houston Texas. Using seismography Talos drills for oil and natural gas in areas other companies consider too difficult to extract resources from. Talos’ drilling operation concentrates on the Gulf Coast and the Gulf of Mexico.
With 132 employees Talos Energy has been rated as a Top Work Place for four consecutive years. Top Work Place status is awarded by the job recruiting website Glassdoor. Critiques of a company provided by past and present employees are the sole basis for determining what employers are listed among Glassdoor’s “Best Workplaces”.
In September of this year, Talos Energy announced that it had acquired Whistler Energy II for $53 million. As part of the deal, Talos will collect $31 million of a $77 million surety bond with the rest going to Whistler. Seven million dollars that were already in Whistler’s coffers will go to Talos Energy. Between the monies from the surety bond and the $7 million, Whistler had on hand Talo’s cash outlay for the deal equaled $7 million.
The purchase makes the lease on an oil field known as Green Canyon 18 property of Talos Energy. Thus far, Green Canyon has yielded 117 million barrels of oil equivalent (BOE). A BOE refers to the amount of energy a barrel of oil generates. Green Canyon 18 is located near Talos Energy owned sites that daily provide 30 million cubic feet of gas and 30,000 barrels of crude.
Timothy S. Duncan Talos Energy’s president and Chief Executive Officer expressed satisfaction with the Whistler Energy purchase sighting, “…low entry costs, production facilities with unused capacity.” It has already been proven that the Green Canyon site is rich in hydrocarbons the main component of oil and natural gas.
Currently the area around Green Canyon 18 is being seismically remapped by Talos Energy. The remapping opens the possibility of finding new oil deposits. When the US Government auctioned off oil drilling leases for sites in the Gulf of Mexico Talos won bids for three possible drilling sites. If productive, these recently acquired sites could be connected to the production facility at Green Canyon 18.