Timothy Duncan already had a number of successes under his belt when he founded Talos Energy. A graduate of Mississippi State and the University of Houston with corresponding BS and MBA degrees in petroleum engineering, Duncan began his career as a reservoir engineering manager for Gryphon Exploration. Later, he would help create Phoenix Exploration and serve as senior VP until 2012. The successful E&P developer would use a $600 million equity raise garnered from Riverstone Holdings and Apollo Global Management to found Talos Energy.
This is a placeholder account for Talos Energy LLC in Houston, Texas. Questions about the company should be directed to 713-328-3000.
— talosenergy (@talosenergyllc) February 12, 2013
Talos Energy is a Houston-based oil & gas company dedicated to exploratory drilling off the Gulf Coast and the Gulf of Mexico. The company also sees to the development of any resources they find. Talos has many platforms operating off the Gulf Coast and was the first private company to drill off the Gulf of Mexico. After acquiring two contracts during Mexico’s energy reform, Talos began exploratory drilling in the Zama-1 field. The drilling led to the discovery of a major boon of oil.
The oil was discovered on Zama-1 field and is prospected to have 1.4 billion barrels of oil underneath it. The discovery was made by Talos’s consortium Block 7. The consortium includes Mexican company Sierra Gas & Oil and UK-based Premier Oil. Talos leads the consortium with the principle number of shares. As of today the consortium is two months ahead of schedule on its first leg of development.
Zama-1 is a key example of the innovation and foresight of Timothy Duncan. He took a chance grabbing contracts from Mexico. His recognition of the benefit that could be found has led to the biggest oil discovery to date. So far, Talos has partnered with Stone Energy to complete the drilling of the second of three wells, Mt. Providence. Once the wells are in place the final vetting of the site will be underway. Mt. Providence production comes a full two months ahead of Talos’s originally prospected schedule.
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