Talos Energy is one of the most independent gas and oil companies led by a team of experienced individuals with decades of experience in matters relating to offshore exploration and subsequent production of oil and gas. With deep water assets located in Gulf of Mexico, the firm boasts with expertise in exploring, exploiting, and optimizing its holdings by employing cutting-edge and innovative technologies.
The company is proud to have a cohesive group that has been working together for over a decade enabling the firm to gain a strong track record in addition to producing stellar results. With year after year of success, the firm went ahead to acquire Whistler Energy for $52 million, an acquisition that mostly bolstered the firm’s presence across the Gulf of Mexico.
While the purchase price of Whistler Energy stood at $52 million, the overall net cash for the whole acquisition stood at $14 million for Talos, a figure that represented an acquisition metric that was to stand at $9,333 per the net barrel of oil that is equivalent per day.
Since the acquisition of Whistler Energy, Talos Energy has gone ahead to increase its asset base. With the purchase, the company was able to add 16,494 acres to its asset base in addition to three blocks, namely Green Canyon 18, Ewing Bank 988, and the Green Canyon 60.
Besides, the acquisition meant the company would assume possession of another permanent production platform that’s situated at Block 18 of the Grand Canyon with a production capacity of close to 35,000 barrels of oil in a single day. The acquisition of Whistler Energy was a blessing of sorts to Talos Energy as production has never decreased.
Increased Presence in the Gulf of Mexico
With the firm’s latest acquisition, Talos Energy was able to improve and strengthen its name and presence in the Gulf of Mexico. Whistler Energy was a company well-known across the Gulf of Mexico. But with Talos going ahead and acquiring Whistler Energy, it was able to increase its presence in the Gulf of Mexico region that’s well known for its rich deposits of oil and gas.
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