Hurricane Harvey may have devastated the neighborhood of Talas Energy’s CEO Tim Duncan, but it didn’t keep him from completing the biggest business deal of his life. The electricity in the town of Kingwood, Texas was already off due to the flooding and several more feet of water was expected. The Talos Energy Chief Executive Officer took action and helped his family including his wife, child, and their two pet dogs into the rescue boat belonging to FEMA.
He and his family were devastated, but he knew that there was no way that he could give up. He had been working on a merger between his company, Talos Energy, and Stone Energy Company for the last 4 months. He knew that it was a risky move, but the $2.5 billion merger would allow Talos Energy a public entity without them having to make a public offering.
He knew that he couldn’t allow a flood to prevent the future success of Talos Energy. Duncan flew his family to Alabama to escape the disaster before spending time in Texas at the home of his parents. While in Houston, he worked well into the night and negotiated the remainder of the deal between Talos Energy and Stone from the dining room in his parents’ house. The flood didn’t deter him from his aspirations of success.
The merger was completed between Stone and Talos Energy in May of that year. The stock listing for Stone was taken over by Talos Energy and Duncan will head a company worth over $900 million in revenue year. The assets of Talos Energy are almost entirely located in the Gulf of Mexico. Their assets are currently valued at approximately $2.3 billion and the debt of $700 million is considered relatively low risk for Talos Energy.
Tim Duncan was raised in Florida, Texas, and Egypt and grew up in oil business. He has shown himself to be able to fight through less than ideal conditions for the success of Talos Energy and his family. He has been in the oil industry himself since 1996 and has shown a knack for finding new reserves.
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