If you were in the middle of one of the biggest hurricanes to touch down in many years, what would be your first priority? If you’re like nearly everyone, your first priority would be to get yourself and your family out safely. It would be nearly unthinkable to put anything before that, so let’s think about this; what would be your second priority?
You might say that the answer to this question is a litmus test because it tells you what matters most to a person after the most basic priority of protecting the pack. For Talos Energy CEO Tim Duncan, that second priority was strictly business.
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While helping his wife, his son, and their two dogs to safety during hurricane Harvey, Tim Duncan probably didn’t think too much about money or deals. But once he and his were safely in FEMA boat, his mind immediately began to drift toward disturbing and frustrating thoughts. After all, his company was in the process of a very large and important merger, and one which entailed no small amount of risk. It would be hard for anyone not to be anxious at a time like that.
However, Mr. Duncan rose to the occasion and buckled down in spite of the weather. He set up a temporary business space at his mother’s house. By a good stroke of luck, his mother’s house was in Houston but had not been affected by the hurricane or the floods that accompanied it. While this may not have been the most dignified way to go about it, he made sure that the merger went through without a hitch.
Talos Energy has recently completed a merger with Stone Energy. In the process, they have acquired a great number of new assets but with these new assets comes extraordinary risk. While they were rich in assets, Stone Energy Company was bankrupt. Nevertheless, Tim Duncan proceeded with the plan unhindered. Some might call him a great gambler.
His plan of drilling in relatively unexplored location is also risky. With such a great gamble on his shoulders, you can guess that he will be working hard to make that gamble pay off. People laughed at Christopher Columbus when he set out for a new world, but look how well the results turned out.
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