The trouble with keeping up with breaking news these days is the fact that it is a 24/7 business. Word has it that Timothy S. Duncan and Tolos Energy has a major announcement to make. They are currently going through with plans to acquire Lafayette, Louisiana-based Stone Energy Corporation.

This merger will be extremely important to the off shore Gulf Coast drilling since both companies are both heavily invested in the area. As the deal is expected to go smoothly due to both sides mutually agreeing on the terms, it is expected to close in the next year. Hoping for a late first quarter or early second quarter closing, they wait.

Combining the two companies was an essential no-brainer, as Timothy Duncan prepares to take further steps to secure offshore drilling and exploration in the Gulf. With technical resources such as these, this merger will surely accelerate the development of current inventory and open up other opportunities.

Upon closing, those stakeholders within Talos will be in control of 63% of the company while those shareholders for Stone will round out the remaining 37%. Initially the equity market capitalization is shown to be estimated around $1.9 billion, while carrying an enterprise value of approximitaly $2.5 billion.

Having so much in reserve will make any company feel confident about their future in the oil business, but utilizing your resources is only part of the mission. Talos Energy Inc. will have around 1.2 million acres combined in the Gulf of Mexico. This amounts to a daily average production of nearly 47 thousand barrels of oil.

Duncan and the 10-member board of directors will have six members from Talos with four more coming from Stone to round out the board. As Citigroup and UBS Investment banks are the advisers financially for Talos, Petrie Partners Securities LLS will act as Stone’s financial adviser. All of this to be accounted for when the final bell rings.

Normally these releases are relatively quiet although due to their massive financial implications, most feel as though the risk of market fluctuation is too high. The Gulf resolution is a pleasant one, with Talos being the victor in this situation. Not so much a victim of circumstance, essentially Stone may have been predestined to join with Talos and further the exploration of our oil reserves. Clearly great minds think alike, and that can be said about this merger as well.

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