Instead of getting their own initial public offering, which is often referred to as IPO, it seems that the mega company Talos Energy instead decided to acquire the controlling interests in the company Stone Energy and with this acquisition created an even stronger offshore energy player who has its main focus in the US and Mexican sides of the Gulf of Mexico. Even though it is a private equity firm this company is Houston based and now trading on the New York stock exchange under the symbol TALO. Chief Executive Tim Duncan with Talos Energy now owns a large majority 63% of the combined company and the Stone Energy shareholders have the remaining 37%.
It seems that with the excellent assets and capital programs that are purely focus on returns Talos is becoming an extremely likely business opportunity for others outside of the US and offshore of the Gulf of Mexico and is continually positioning themselves to capitalize on greater opportunities as well. Even though Talos Energy was only founded 6 years ago the idea was always to take Talos public. The idea of IPO was had previously as a desire to do so in 2014 or 2015, however, with the oil industry not doing so well then those plans were put on hold and an even greater opportunity was granted with Stone acquisition. We also see that other Apollo Global Management and another major private equity firm River Stone Holdings added significant influence on the financial stability and foundation of Talos Energy.
Striking it big and the previous summer when off shore of Mexico see that Talos had received some of its first in major bids when Mexico had it energy reform process and is opened up many avenues for Talos Energy to invest abroad with foreign investors. Stone energy also had to file bankruptcy in 2016 to protect themselves during the collapse of oil prices the year before and had been operating for over 20 years previously. The powerhouse company was acquired and with Talos Energy and Stone remaining resources is now proving to be a powerful combination.
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