After the destruction of Hurricane Harvey the town of Kingwood, Texas was all but impassable. The electric was not working, and the floodwaters were six feet high. Tim Duncan and his family including the two dogs were put into a rescue boat and taken out of the flood.
Duncan just happened to be the Chief Executive Officer of the Talos Energy company. He was having trouble understanding the deal that he made and how the outage was going to affect his company. Talos Energy is looking to merge with Stone Energy Company and this was a risky move.
Duncan is looking to get the deal done and will not let the floodwaters stop him or slow him down. He needed to call in a couple of favors and was able to get a plane out of Texas. Duncan and his family went to stay with his parents for a couple of weeks and he would do business from their dining room table.
When the merger is going to be complete, Talos Energy will take over the listings that Stone Energy has. Duncan will oversee a company that conducts over $900 million in business annually. All the assets that the Talos company has will be invested in this merger in the Gulf of Mexico. While the company has shown to be able to turn a profit there are still risks involved. The cost of offshore drilling can run in the hundreds of millions and an oil spill put the company out of business, not to mention countless lawsuits this would cause.
Duncan is not going to let that stop him. New technology such as hydraulic fracturing will be used to reduce the drilling risk. The company is able to produce 48 million barrels of oil a day and are looking to surpass that amount in the near future.
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