Founded on January 1st, 2012, Talos Energy is an energy, gas and oil company that is based in Houston, Texas, United States. The company’s headquarters is in the Greater Houston Area, of Southern US. The three co-founders of the company are John L. Harrison, Stephen E. Heitzman, John A Parker, and Timothy S. Duncan.
The company is also known as Stone Energy or Talos Energy LLC. The management of the company has been entrusted with the exploration and production of oil for over a decade now. The company mainly operates in the Gulf of Mexico where it specializes in the acquisition of assets in the developed deepwater and operated shelf. The firm is also known for the exploration and optimization of assets by using cutting-edge technologies. The co-founders of the company built and sold several gas companies prior to beginning Talos Energy in 2012. Some of these companies are Phoenix Exploration Co and Gryphon Exploration Co.
Recently, Talos Energy LLC merged with Stone Energy Corp and had its name changed to the famous Talos Energy, Inc. The merger was officially completed in the last quarter of 2018 and will bring in over $1.9 billion. Even though changes are expected after the merger, Timothy S. Duncan will still serve the company as the Chief Executive Officer. The new company will have some of their teams in Lafayette, Louisiana and New Orleans. After the merger, the Board of Directors of the company will consist of six members from Talos Energy, LLC and four members from Stone Energy. The main reason for the merger is to come up with one of the leading productions and exploration off-shore companies.
The stakeholders from Talos Energy LLC will walk home with approximately 34.2 million in common company shares. 63% of the new company will be owned by the shareholders from Talos, and the remaining 37% shares will go to the shareholders of Stone Energy. From the merger, talented and experienced management will be established and help in spearheading a strong position in the financial market. The merger was reached to after seeking professional views from recognized experts and specialists such as Petrie Partners Securities, and Akin Gump Strauss Hauer & Field LLP.
Five months ago a lot of American oil was going to Europe. OPEC decided to push back on this in an effort to balance the oil market. American oil producers, though, fought to keep deriving the benefits of the European market. They surged on the amount of oil being sent to Europe to history-making amounts. On the other hand, this led to lower prices and not much in the way of profits. If profits go away oil producers need to scale back operations and reduce their employee count.
Since that time there has been a gradual reversal in oil market and prices are heading higher, good news for oil producers like Talos Energy Inc. of Houston. How most companies get oil hasn’t really changed much in centuries. They drill a well and then pump it out, essentially. Countries with proven oil reserves have great power on the world stage because the modern world runs on oil.
Talos Energy doesn’t do onshore drilling. They drill out in the waters of the Gulf of Mexico. The management team at this company says that oil prices have been a rollercoaster for a while now. With the world economy continuing to expand this is likely to continue to be the case. Looking back to 2014, a barrel of oil was worth $110. In 2016 it dropped all the way down to $26 and then shot back up to $50, later on, that year. It is now trading around $70 a barrel.
Some people argue that higher oil prices help economy, others say it hurts. Some experts make the case that lower oil prices help people spend their money on other goods, boosting the economy. However, other experts say that higher oil costs send money into the global economy where it is invested.
Talos Energy is a publically traded company that was established in 2012. They explore for oil offshore and are also oil producers. They have a number of deep water assets in Gulf of Mexico and are active on both the U.S. and Mexico sides of the border between these two countries.
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Stream Energy is an alternative gas and electric service available to seven states throughout the U.S. Stream Energy is a direct-energy seller, which means plans and services are offered by contractors directly to consumers. It operates like a brokerage, with contractors earning commission on the client lists they generate. At a normal electric provider, you deal with faceless consumer service specialists. At Stream you would be dealing with the person who signed you up. Directly.
Stream came to be 2005, founded by Rob Snyder and Pierre Koshakji. Though initially providing service to Texas, the company eventually expanded to six other states. It currently offers service to New York, Pennsylvania, New Jersey, Maryland, Georgia, Illinois, and Washington D.C. The company also expanded its services to include home security and mobile service plans. These two services are available nationally. Stream Energy is also a proponent of corporate philanthropy, wherein its charitable pursuits are made part of the business model. Associates and contractors place their philanthropy as part of their everyday work schedule, donating to various funds as if it were a standard deduction on their paycheck. To manage its philanthropic arm Stream created internal charity Stream Cares.
Stream Cares is a charity organization that works with other charities to plan events, provide aid, give back to the community, and donate funds to said charities they work with. Stream Energy takes a more hands-on approach with their charity as they become a physical presence not just a signed check. One of the principle causes that Stream devotes time and money to is homelessness in Dallas. The company, through Stream Cares, provides funding to organizations like Hope Supply Company, Habitat for Humanity, and the Red Cross in order to fight homelessness and support homeless families. So far Stream’s philanthropy has helped many families and increased the quality of life in the Dallas Area.
One of the biggest industries in Canada is the oil and natural gas industry. One of the mid-sized players in this industry is Obsidian Energy Ltd., a business that is headquartered in Calgary, Alberta. It was founded in 1979 and has oil and gas wells in many locations in western Canada. The company employs about 300 people. Like almost all companies in this industry they struggled for a few years when the price per barrel of oil plummeted. Since the price per barrel has been steadily going up over the last year Obsidian has found more success recently.
The oil and gas fields that Obsidian Energy has wells in are in Alberta. There are three main areas in this province that they obtain oil and natural gas; Alberta Viking, Pembina Cardium, and the Peace River Oil Sands. This region, called collectively the Western Canadian Sedimentary Basin, is among the globe’s largest proven oil reserves. Each day about 31,000 barrels of oil are produced.
Up through June 26, 2017, Obsidian Energy was known as Penn West Petroleum. They had engaged in a lengthy restructuring of the company where they reduced debts and sold off assets. As the leaders of the company were looking for a fresh start they proposed that the name of the company should be changed to reflect this. This proposal was put before the shareholders of the company and they approved this change. the new name was sharpened because Obsidian is a type of rock that can be both honed and sharpened. Click Here for more information about the company.
In the second week of December 2017 it was announced by Obsidian Energy that Gordon Richie had been named to the company’s board of directors. He joins the company’s Acting Chairman of the Board, George Brookman. Ritchie brings with him almost 40 years of experience in the financial industry where he was a top executive at such firms as the Royal Bank of Canada Capital Markets.
View Source: https://en.wikipedia.org/wiki/Obsidian_Energy