The Talos Find

The U.S. oil company, Talos Energy, is seeking to partner with the state-run Mexican oil company, Pemex, to jointly develop a prospective and potentially oil-rich area. The area in question was in 2017 discovered by Zama, a subsidiary of Talos Energy, to contain huge field of oil. The area neighbor’s an area owned by Pemex that was found to also have huge oil field earlier this year. Talos Energy is even now in the works to tap into its earlier find and wants Premex to join its groups of company partners. Talos Energy is led by its Chief Executive Officer, Tim Duncan.

Duncan hopes that he can secure a deal between Talos Energy and Pemex by the end of the year. Mexico’s president-elect, Lopez Obrador, who takes office in December has promised to strengthen Pemex. At this time he has not given many details about how he intends to do this. However, rumors from insiders suggest that he may be offering service contracts to various private companies such as Talos Energy to partner with Pemex in extracting oil. He will be doing this to help curb a 14-year production slump by Pemex.

In September of this year, Mexico approved appraisal plan for what is called the Zama Project in which Talos Energy will invest $325 million to drill two new wells in the area. A very intense study of the territory has led experts to predict that it will produce 100,000 to 150,000 barrels for day Talos and any partners by 2023. The project is in the works right now and will involve the construction of these platforms in 500 feet of water. It is hoped that Pemex can join this Talos led multi company effort by the first of 2019. It looks like this partnership will, in fact, become reality.

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Talos Energy’s Vision In The Oil And Gas Industry

Talos energy is an independently operating gas and oil firm whose primary focus is directed to offshore production and exploration. Over the years since its inception in 2012, the Energy firm has been trying to expound territories in a bid to increase production capacity. The firm is growing and giving opportunities to skilled personnel who can aid with the growing demand for a human resource in data collection and research in the oil and gas industry. It is a growing favorite workplace for applicants as Talos Energy sites good working opportunities and flexible schedules to raise the quality of life. To affirm this fact, the Energy firm has been ranked top as a top workplace in Houston by the Chronicle Top Workplaces from 2013 to 2017 in less than a decade into operation.

Recently, Talos Energy announced that it would be moving on with the acquisition of a related company in the oil and gas industry. The company in question, Whistler Energy II was offered for $ 52 million. The buyout will see the Energy firm exercise rights in three blocks situated in the Central Gulf of Mexico; Green Canyon 60, Ewing Bank 988 and Green Canyon 18. These blocks sit on a 16494-acre land that should facilitate the increase of research area and production. Initially, the Green Canyon Blocks were spotted and developed by ExxonMobil a company that later rebranded itself to Whistler with an enormous production capacity that yields to more than 117 million barrels of oil. With additional production resources, the Green Canyon Blocks is thought to have the potential to do more.

In other news, Talos Energy was approved for the project on the Zama Offshores by the National Hydrocarbons Commission. The board is still going through the plan Talos hopes to move forward with the drilling operations. The energy firm hopes to have the project appraisal phase completed by mid-2019. The budget set for the appraisal phase that has been forwarded to the regulatory board stands at $ 325 million. The funds will cover for the cost of drilling wells, testing and affirming a strong foundation. Increasing massive production holds as Jason Hope’s, Talos Energy’s installation manager as the main objective currently.

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Talos Energy Oil And Gas Co Achievements

The Talos Energy is an oil company based founded in the year 2012 by Timothy S Duncan who acts as the Chief Executive Officer and the President of this company. It was started at an estimate of six hundred million dollars but then being funded by Riverstone Holding and Apollo Global Management. This public company has its headquarters located in Houston Texas. Its major activities include in the exploration of natural gas and oil elements and building towards its production in the Gulf of Mexico and Gulf Coast. This is because of the years they have had experience in offshore oil mining using the most modern technological methods courtesy of the able managerial team. Oil mining and exploration in Texas and its environs are also done by this oil producing company.

For the past years it has been operating, it has worked together as a cohesive group that has helped them strike a good record with results that are indeed on top. Talon Energy traces back even before the foundation. In the year 2012. The founders had established and later on sold the Phoenix Exploration Company and the Gryphon Exploration Company both serving in the gas and oil fields that in turn brought handsome returns to the founders and investors. This company has managed to maintain a one-step advantage over their competitors because of the rate at which they have decreased the risks that come along with drilling of oil wells. This can be attributed to the over thirty-three thousand square miles of that was designed for proprietary extraction data.

The team of employees is well familiar with the geographical settings of deepwater areas and the great experiences of operation. They have also ensured members of the community play a major role in their activities by bringing them in as employees in the company. Not only in providing human labour have they involved the community but also in participating in charitable activities. On safety and the welfare of the contractors and workers have been prioritized and have been made the company’s top core value. Their drive is that no work is so important or so urgent that can be put before the safety of a worker.

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Talos Energy Is The Wave Of The Future

Talos Energy is a firm that deals with the drilling of oil and gas. It was started in 2012, and since then it has achieved a lot of success in the field of mining. The main offices for the company are currently in Houston, Texas. The company has been trying to come up with new, advanced and innovative ways to drill gas and oil. They are only focused on techniques that are responsible. The man leading the company to achieve success is Tim Duncan. He started the company with a few of his friends, and they have been working to ensure they deliver the missions and goals they set. Tim Duncan is a focused man, and he wants to move with the gas and oil markets since the market is not constant. The man behind the success of the company attended Mississippi State University where he studied petroleum engineering. That marked the start of his career. When Duncan completed his education, he went to Phoenix Exploration, and in a few years, he had helped the company to expand.

Today he Tim Duncan is serving as the head of Talos Energy. The talented engineer is committed to ensuring he works to make company successful. Tim works with other professionals at Talos Energy. Some of his helpers are the co-founders. John Parker and Stephen Heitzman have been offering great support to the company. They work together as a team, and that is how they have managed to ensure firm is stable. The three make the team that keeps operations moving at the company. They are experienced, and that is why they have what it takes to guide other employees for the company.

The Gulf of Mexico makes one of the best sites for Talos Energy. The area is strategic, and the company has gained the place because of the knowledge and experience of Tim Duncan. They have managed to beat the competition because the company is led by people who know what they are doing. Duncan was working at Phoenix with his friends Parker and Heitzman. Even before Talos became operational, the three entrepreneurs had already located several oil and gas reserves. They have shown that they have what it takes to mine oil and gas.

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Stream Energy’s Business Model

The company uses the direct selling approach to deliver various products and services. The business does more than sell energy; it also provides mobile phone plans, virtual doctors, and telemedicine.

Its associates build networks of happy, loyal customers, and they get commissions for their contribution. These associates are not employees; they are business owners and entrepreneurs.

They identify areas where they and the company can help and give support. The company’s top leadership and employees also participate in grassroots giving.

Homelessness in Dallas

Homelessness is one of the causes about which Stream Energy cares about deeply. The business and its employees continually gather information on the level of homelessness in Dallas, which has increased by a staggering 24 percent. The company partners with Hope Supply Co. to address this problem.

During Hope’s annual splash, Stream Energy and its passionate associates paid for entrance and meals for more than 1,000 homeless kids in North Texas. Over the last four years, Stream has joined hands with the charity to provide school supplies, diapers, and clothing for homeless kids.

The charity’s annual event gathers homeless children to a local water park, allowing Stream’s leadership and workers to show them kindness and generosity.

Meeting the People

Stream worked with Operation Once in a Lifetime last December to provide moral and financial support to veterans and their loved ones from the Dallas area. The company paid for transportation to less fortunate veterans and their families and treated them to a special lunch at a top Texas restaurant.

On the following day, Stream Energy helped to facilitate the American Girl Experience for ten girls of military members. The company later paid for lunch for each of the girls at the American girl café.

Stream Energy, its associates, corporate leadership, and employees do not view giving as an event; it is a way of life. In a state not known for philanthropy, Stream prominently stands out.

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Obsidian Energy: Western Canada’s Oil Producer

Obsidian Energy, based in the city of Calgary, Alberta, is a natural gas and oil company that operates on the western part of Canada. The company was previously known as Penn West Petroleum, but after going under a restructuring and rebranding phase, they changed their name to Obsidian Energy on June 26, 2017. Once recognized as a top performing Canadian company and consistently included in the top 60 performing companies at the Toronto Stock Exchange, Obsidian Energy’s value fell as the price of petroleum crashed. It also lost its status as a Canadian Royalty Trust, after the company was greatly devalued. The topmost value given to the company was $9.5 billion, but it declined after January 2008.

 

After the price of oil around the world became cheaper, petroleum companies like Obsidian Energy were negatively affected and the employees perished. The majority of the company’s assets were sold subsequently for the next two years, and Obsidian has undergone a restructuring process hoping that the move can save the company from becoming bankrupt. The number of employees working for Obsidian Energy was also decreased from more than 2,500 to 300. Obsidian Energy wanted to cut the amount of debt that they acquired, and they are hoping that by cutting their expenditures and manpower, the company can save a lot of money to pay for their debts.

 

Obsidian Energy focuses on extracting petroleum and natural gas on the western part of Canada, where the Western Canadian Sedimentary Basin is located. The region, found inside the territories of Alberta, is known for its rich petroleum reserves. The current president and chief executive officer of Obsidian Energy is David L. French, and he is leading the company to extract more petroleum and natural gas, with the hopes of increasing the company’s profit. The oil and gas wells owned by Obsidian Energy is scattered all throughout the western part of the country, and it can produce more than 31,000 barrels of oil per day. Being the leader of a struggling company is a big challenge for David L. French, but through his efforts, he is hoping that Obsidian Energy would one day bounce back.

 

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Obsidian Energy Ltd On The Course Of Reclaiming Its Original Glory Under David L. French

Penn West Exploration Ltd. was founded in Alberta, Canada, close to 38 years ago. Along the way, the oil and gas drilling company changed its name to Penn West Petroleum and later to Penn West Energy Trust. Earlier this year, the company rebranded again to its current name- Obsidian Energy Ltd. The company has a strong presence in Western Canada, owning a majority of natural gas and oil wells in the region. Records show that Obsidian Energy Ltd. is among the bigwigs in the Toronto Stock Exchange with its worth estimated at $US 9.5 billion over a decade ago. Although the instability in the global oil market that was experienced three years ago greatly and negatively affected Obsidian’s annual revenue, the company was able to bounce back and is currently doing well. Records show that the company was able to settle all of its debts incurred during that period.

 

 

The Ups and Downs

Among the key factors that have seen Obsidian Energy Ltd succeed in the competitive global oil market is the strategic positioning of its wells. The study shows that Western Canada is rich in petroleum and natural gas products, particularly in Peace River, Pembina Cardium, and Alberta Viking. Going by statistics for the year 2017, the company’s oil fields have an average daily production rate of more than 30,000 barrels.

 

In 2008, formerly Penn West Energy Trust – Obsidian Energy Ltd was doing extremely well on the New York Stock Exchange. Dividends from its equities were going for up to 16% in annual rates. Its workforce, on the other hand, was of about 2350 people. It was between 2012 and 2014 that the company was hit by the reduced oil prices in the world, prompting it to reduce personnel to slightly less than 500 people. Obsidian Energy Ltd is now back on its feet and is expected to get back to its earlier financial position in coming years. Click Here for Related Information.

 

 

The CEO

David L. French is the reigning president and CEO of Obsidian Energy Ltd. He is the man who effected the rebranding of the company after taking over in October last year. Top on his to-do list is to get the company’s production levels back to the 135,000 barrels per day it used to produce several years back.

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Here’s How Obsidian Energy Has Grown To Realize Profitable Results

Obsidian Energy Limited, formerly pen west exploration, is a Canadian oil and natural gas producing company. It operates from Calgary, Alberta. The company changed its name from Pen West Limited in the year 2017. Majority of the shareholders voted in preference to changing its name from Pen West Limited to Obsidian Gas Limited. Also, the name was approved because Obsidian is a natural volcanic glass which is versatile. The versatility of this volcanic glass allows it to be honed and sharpened.

 

The company obtains its raw materials from its oil and natural gas fields situated in Alberta. This oil fields, situated along the large Canadian sedimentary basin, form one of the largest oil and petroleum reserve globally. The vital areas that boost production include Alberta Vikings, Pembina Cardium, and Peace River Oil Sands.

 

Obsidian Oil Limited is made up of different oil producers from Canada. They include Daylight resources, Bonterra, Peyto Energy, Progress Energy Trilogy, Enterra, Freehold Energy, Fairborne Energy, Zargon Energy, Vermillion Energy, Baytex Energy, Canadian Oil Sands and much more. The company changed to a conventional corporation from CONROY in the year 2011.

 

In the year 2008, Obsidian distributed high dividends to its shareholders as recorded in New York stock exchange. In the same year, it also paid a high amount of equities to its shareholders. Trust assets of this company are not taxed using the average dividend rate since they are considered to be exhaustive with time. In the year 2008, this Oil and Natural Gas Company attained optimal market capitalization with an approximate value of $9.5 billion.

 

In the year 2017, the company underwent several transformations to improve its operation strategies. They included:

  • Chartered accountants, Ernst and Young LLP, were appointed as the company auditors.
  • New directors were elected
  • Minimizing the share capital for proper accounting purposes
  • Change of name from Penn West Limited to Obsidian Energy Oil Limited. The shareholders proposed name change by majority votes.

 

Obsidian Energy also announced an impressive third quarter financial results and the upcoming budget for the year 2018. David French, the current serving chief executive officer, published the results. In his announcement, the company boasted of having had a successful operational and financial year, and they were expecting the best in the coming future.

 

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