Talos Energy Has Already Completed Its Previous Announcement

Talos energy is a production company that carries its activities in the Gulf of Mexico in the United States. It also operates in the waters that are shallow and are located off the coastal areas of Mexico. It is an independent exploration that is driven technically. It has a focus in the Gulf of Mexico majorly concerning exploitation, acquisition, exploration and to develop deep water and shallow water assets that are near already existing infrastructure.

The waters that are shallow and located off the coastal region of Mexico provides Talos with results exploring an area of concern in an upcoming basin. On all the fourteen blocks where Talos is bid on, it has a one hundred percent success rate. The blocks cover an area of land which is approximately seventy-five thousand net acres. When awarded once, Talos is going to pay about five point three dollars for all combined leases. Concerning deepwater leases, two of them have a seven-year primary lease term. The other leases have a five-year lease term. 18.75 percent is the royalty rate of the thick water blocks. The royalty rate of shallow water leases is twelve point five percent.

Talos energy has identified eight prospects concerning the blocks. There is a possibility of the addition of two blocks. The Chief Executive Officer of Talos who is also the president is called Timothy Duncan. He said that he is happy to have a great result in most of the recent federal lease sale. The Exploration team is focusing on their inventory all over their production facilities.

Talos energy has already completed its previous announcement about a merger with an organization called stone Energy Corp. The two combined companies started carrying out the trade on May, ten on the Stock Exchange market in New York. The headquarter of the company is in Houston.

Through the combination, shareholders will be benefited greatly by the increased scale and liquidity. Talos is in a great position to capitalize on the high-quality asset portfolio it possesses.

Talos is said to have entered a new agreement of credit facility. The initial borrowing base is six hundred million dollars of which half is available. It is also said to have liquidity of four hundred and fifty dollars and a pro forma year-end 2017 2P Reserves.

Talos Energy’s Facebook Page: www.facebook.com/talos.energy/

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