Houston, Texas based energy firm Talos Energy recently announced some huge news with the acquisition of Stone Energy. Talos Energy is an energy company that works in the field of offshore exploration. This huge move has allowed Talos Energy to move into the realm of publicly traded companies. The announcement came in the wake of the majority of the stockholders at Stone Energy approving the transaction. The two companies are combining with each other on the basis of a transaction of an all-stock nature.
Stone Energy is a perfect complement to Talos Energy as both companies work in the realm of exploration. Stone Energy has a focus on exploration for natural gas and has operations in the Gulf of Mexico. This huge merger carries with it a value of two billion dollars and the new joint company is now traded on the prestigious stock exchange in New York City. The combined efforts of the two operations will greatly enhance the exploratory work being done in the Gulf of Mexico.
This has been part of a highly successful run of events that Talos Energy has been involved in during recent years. Talos was a huge part of the Zama-1 offshore well that was discovered in Mexican territory in 2017. The new oil field that is in place at the location is the first well of an offshore nature in Mexican history in regard to the private sector. This huge discovery has garnered a prestigious award. The Discovery of the Year award is given out annually by the Association of International Petroleum Negotiators. Talos Energy and its executives are honored to receive the highly sought after award for their part in this important discovery in the world of energy. The economic value of the discover of Zama-1 is expected to reap huge rewards for years to come.