While it is undeniably true that the gas and oil energy industry is struggling right now, there are a few companies that seem to be taking the issues in stride. Among the leaders in the industry, a private company out of Houston, TX known as Talos Energy LLC has continued to build momentum. Just over the past year, Talos Energy was able to push into the Gulf of Mexico in order to become the first private investor in an offshore well that came from outside of Mexico’s own borders. This momentous occasion, which gave real clout to the upstart energy company, seems to have marked a real push into the future for the team lead by President and CEO, Tim Duncan.
Tim Duncan was on hand at the recent WoodMac annual exploration awards this past June in order to receive the latest honor heading to Talos Energy. Talos Energy scored the ‘Discovery Of The Year Award’ for 2017 in honor of their work on the Zama-1 Well. The Zama-1 Well stole headlines throughout the industry, all over the world, when Mexico announced that a trio of companies would be leading the investment and that one of those companies was from America. Talos Energy holds a 35% stake in the Zama-1 Well and expectations are that the well should be able to produce nearly 2 billion total barrels of oil, an eye-popping number.
Tim Duncan is one of three co-founders at the Houston-based energy company. Joined by Steve Heitzman and John Parker, Tim aimed Talos directly at the offshore oil drilling industry when they first decided upon the idea. Their goal was to expand not only throughout American-controlled rigs, but also into the waters of other countries, thus leading to their bid on the Zama-1 Well.
Despite the negative downturn in the oil and gas industry, Duncan and his team at Talos have managed to weather it well. Duncan explains that their continued success in the rocky industry is due to the fact that they are always hedging their portfolio, thus insulating the company from some of the major risks that are intrinsic to the industry.