The commencement of Talos Energu

Recently, in May Talos Energy Inc. and the Stone Energy Corporation merged to form “Talos Energy”. The two oil and gas companies have a history of instinctive strategic development and asset management procedures. Stone, having filed for bankruptcy in 2016 welcomed the merger allowing Talos Energy to go public without the associated costs involved in making an initial public offer to the market. Tim Duncan, the current CEO of the newly formed Talos Energy and former Talos Energy Inc. CEO said that this merger would benefit shareholders due to their increased scale and liquidity. He further appreciated the efforts of everyone involved in sealing the $2.5 billion-dollar deal in which he took four months to seal.

As the oil and gas industry rebounds from the 2015 collapse of oil, recent developments have made the price of oil to increase to over $ 60 dollars for a gallon of oil. The merger will see Talos Energy boost production to a capacity of 47000 barrels. Talos Energy will also have proved reserves of 136 million barrels of oil equivalents. The newly Merge company will also maintain a 1.2 combined gross acres in the Gulf of Mexico, not including roughly 160,000 acres off the coast of Mexico.

Talos Energy also announced a new credit facility it had entered into with an initial borrowing base of $ 600 million dollars, with $300 million available. The newly formed company has a liquidity of $450 million dollars, out of which $150 million is in cash, net of transaction related costs. Talos Energy also pranced about their Pro forma Year-End reserves at SEC of approximately 205 MMBoe, out of which 150 MMBoe were proved reserves thereby increasing its financial flexibility.

Talos Energy also released its financial and operating guidance for the year 2018 with Tim Duncan announcing its release and what it meant for Talos Energy together with its particulars. Tim Duncan stands on the help of successfully turned around assets and companies. In 2005, he spearheaded the acquisition of the Phoenix field which is now Talos’ largest asset. Another one of Tim Duncan’s great scores was the discovery of Zama -1, which proved to be a success after Talos teamed with Premier Oil to drill a 1000-foot indicator well.

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Cotemar Mexico – Providing Quality Service in the Oil and Gas Industry since 1979

Cotemar is a leading offshore petroleum consultancy service provider that has been operating in the industry for more than 38 years. Operating out of Ciudad del Carmen, Mexico, the company is in the business of providing personnel transportation and vessels. In a short period, the company has become one of the top companies in the oil and gas industry. Some of their specialized services are vessels for fire fighting and spills, vessels for transporting materials such as mud and sand, transportation of liquids from oil fields and much more.

Cotemar follows its policy of integrity and ensures ethical practices in every project that they undertake. Each of their clients is handled with the highest level of professionalism and is provided with world class services. The company continuously updates itself with the latest technology and keep themselves updated about the industry so that they can provide high-quality services to their clients. By adding the most recent vessels to its fleet, the company has managed to strengthen its position as a reliable company further.

Cotemar aims to provide exceptional work that complies with the environmental laws. The company completes projects promptly so that their clients can easily achieve their goals. All of their rigs and vessels have the best catering services on board along with boarding facilities, cleaning services and laundry. Many of their rigs have entertainment facilities like gym, pool and sporting areas. The company takes all safety precautions in their vessels and rigs so that the people on board are satisfied with the service. The company hires only the best and hard working employees that are provided with training to execute excellent results that are expected out of them. The company takes the safety of their crew members and the people on board very seriously. This is why they do not hesitate to upgrade their technology to reduce chances of any accidents that can result in hiccups in their normal operations.

The company is one of the most desirable companies for those looking to start a career in the industry. The company believes in hiring only the best employees so that they can provide their clients with world class service. The company offers training and development programs to their employees in different areas of their company. Cotemar also holds classes and workshops in association with many universities to teach them about the opportunities in the industry and how they are serving the country through their services.