Talos Energy Debuts On The NYSE Following Merger With Stone Energy

Offshore oil and gas company Talos Energy has begun publicly trading on the New York Stock Exchange in the aftermath of its $2 billion merger with Louisiana-based Stone Energy Corporation. Prior to the merger, Stone Energy Corporation, founded in 1993, had filed for bankruptcy protection, following a precipitous collapse in oil prices in 2016 resulting from a rapid acceleration of global surpluses of crude oil.

Houston-based Talos had previously intended to go public through an initial public offering, but the oil glut that led to Stone’s bankruptcy filing put those plans on hold. As Stone Energy was already being publicly traded on NYSE, the acquisition of a controlling interesting in the company meant Talos could go public without filing for an IPO as is common and was originally envisioned. The company now trades under the ticker “TALO”, and owns 63 percent of the merged company, with Stone shareholders controlling the remainder.

The deal sees the merger of two large offshore energy entities that operated in and around the Gulf of Mexico, and comes in the wake of Talos’ July 2017 “Zama discovery”, which saw the company discover an oil field along the southern coast of the Gulf of Mexico containing an estimated 2 billion barrels of crude oil. The find has been calculated to be one of the largest discoveries of shallow-water fields in the last two decades, and is expected to yield as many as 425 million barrels of usable crude oil.

In a statement announcing the merger and the new public status of his company, Talos founder and Chief Executive Officer Tim Duncan touted the oil producer as being “very well positioned to capitalize on its high-quality asset portfolio and returns-focused capital programs in the U.S. Gulf of Mexico and offshore Mexico.”

Talos Energy was founded in 2012 by Duncan with the financial aid of private equity giants Riverstone Holdings and Apollo Global Management. Operating in the Gulf Coast and the Gulf of Mexico, the company is headed by a management team with an average thirty years of experience in the energy industry.

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Philanthropist George Soros

Loved and admired by everyone he meets, George Soros has built respected reputation as a sought-after individual for his one of a kind advice. Perhaps, it is because he is one of the world’s first donors, having given away finished $12 billion to date. His subsidizing has bolstered people and associations over the globe battling for flexibility of articulation, straightforwardness, responsible government, and social orders that advance equity and fairness. This giving has regularly centered around the individuals who confront segregation only for their identity. He has bolstered bunches speaking to Europe’s Roma individuals, and others pushed to the edges of standard society, for example, sedate clients, sex specialists, and LGBTI individuals.

Soros has encountered such narrow-mindedness firsthand. Conceived in Hungary in 1930, he survived the troubles of world war in his home country, which brought about the murder of more than 500,000 Hungarian Jews. His own Jewish family made due by securing false personality papers, hiding their experiences, and helping other people do likewise. Soros later reviewed that “as opposed to submitting to our destiny, we opposed a detestable power that was substantially more grounded than we were—yet we won. Did we get by, as well as we figured out how to help other people.”

As the Communists merged power in Hungary after the war, Soros left Budapest in 1947 for London, working low maintenance as a railroad watchman and as a dance club server to help his examinations at the London School of Economics. In 1956, he emigrated to the United States, entering the universe of back and ventures, where he was to make his fortune. In 1970, he propelled his own particular speculative stock investments, Soros Fund Management, and went ahead to end up noticeably a standout amongst the best speculators in the historical backdrop of the United States.

Soros utilized his fortune to make the Open Society Foundations—a system of establishments, accomplices, and undertakings in more than 100 nations. Its work and its name mirror the impact on Soros’ reasoning of the theory of Karl Popper, which Soros first experienced at the London School of Economics. In his book Open Society and Its Enemies, Popper contends that no theory or belief system is the last mediator of truth and that social orders can just prosper when they take into account popularity based administration, opportunity of articulation, and regard for singular rights—an approach at the center of the work at the Open Society Foundations.

Soros started his charity in 1979, offering grants to dark South Africans under politically-sanctioned racial segregation. In the 1980s, he advanced the open trade of thoughts in the Communist Eastern Bloc by giving printers to republish prohibited writings. After the fall of the Berlin Wall, he made the Central European University as a space to encourage basic reasoning—around then an outsider idea at most colleges in previous Soviet states. He financed social trades between Eastern Europe and the West, assuming a significant part in helping the Soviet society he had himself quickly lived in open itself to the world.

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