After Harvey’s tropical torment hit its second day, Tim Duncan’s suburb, in North Houston streets were impassable. The powers had gone off, and it was all darker when a report came that another 6-feet Hurricane Harvey floodwaters were expected to hit the area. Duncan took to rescue the wife and his six-year-old son, Christy in a FEMA rescue boat.
The CEO of the great Talos Energy, Duncan was beside himself. For almost four months the CEO had been arranging a 2.5 billion dollar merger of his company with the Stone Energy. Stone Energy is a bankrupt public trading company. This venture was risky, but he believed that it would make him a public entity without putting it on the expense of the public offering. He expressed his concern to get the deal done and not give the excuse of the expected floods.
He then called a private plane and boarded together with his family to Alabama. On his return to Texas, Duncan camped at his mother’s place, a premise that was in Houston but it was dry and high. For weeks he worked till late and planned on how to negotiate for the deal from the mother’s dining table. To know more about Talos Energy click here.
Following the successful merger, Talos will be able to take over the Stones listings with Duncan presiding over the oil company that has annual revenue of over 900 million dollars. All the assets of Talos will be traced from the Gulf of Mexico. The company’s low-risk balance would scarcely offset massive operating risk in such a location where the drilling might cost billions of dollars. There is also a catastrophic risk in the preferred position.
However, this is a very contrarian bet. Crowds are located in different places where technology can be well used. Nevertheless, this company is like a classic wildcatter with the confidence to take chances on wells even outside the United States waters as well as on political grounds such as Mexico. The newly formed firm will be able to produce over 48000 barrels in a day, and it is anticipated that this number may go high. It is right to say that for Duncan crises are always opportunities.