Coming somewhat on the heels of the $2.5 billion merger with Stone Energy Corp., Talos Energy has now acquired Whistler Energy II in a $52 million deal. The acquisition grants the company a 100% working interest in three blocks in central Gulf of Mexico.
The blocks in question include Green Canyon 18, Green Canyon 60, and Ewing Bank 988. In addition, the growing company will get a fixed production platform in 750 feet of water located in Green Canyon block 18. To date this year, production from whistlers assets has been approximately 1,900 barrels of oil equivalent per day, or boe/d.
While the purchase price was listed as, $52 million, the release of $77 million cash collateral, which had secured Whistler surety bonds, along with the $7 million dollars in available cash that was on hand at the time of sale, led to a net positive cash flow for both parties. Whistler pulled in $100 million in cash, and Talos Energy ended up paying only $14 million, despite the price tag which on paper for acquisition of the company.
In addition , Talos Energy had also recently licensed vintage wide azimuth seismic data in the Gulf of Mexico. This will be used in conjunction with the assets that they aquired in the merger to possibly generate some additional drilling prospects in the area. The company also won the bidding on new leases containing three drilling prospects which can be routed back through the Green Canyon 18 Field Block.
Talos Energy was started in 2012 in part by Tim Duncan. Using 600 million in equity they had accrued from previous backers, as well as assets in Gulf of Mexico which we’re producing over 16,000 barrels of oil per day, they built a company which prided itself an intervention and the empowerment of employees.
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Flavio Maluf is the chief executive officer of Eucatex Group an environmentally friendly and innovative company which uses unique materials to produce industrial and household items. He was born in 1961 in Brazil. He attended FAAP, an advanced learning institution based in Sao Paulo where he graduated with a degree in mechanical engineering.
After graduating, Maluf joined Eucatex Group in 1987 where he began in the trade department. Eucatex is a company started by his father a renowned businessman and politician in Brazil in 1951. By then, the company specialized in wood processing. He would later shift to the engineering department where he helped the company develop innovative ways to process wood and other materials. Read more about Flavio Maluf at Blog do Ronco
As a result of his dedication and success in the company, his family agreed to involve him as the chief executive officer and the executive president in 1997. To date, he still holds the same position. His main focus is investing in the company as well as looking for ways to launch new products in various areas. Flavio Maluf has also been keen to position the company as innovative and environmental friendly.
When it was started, Eucatex used eucalyptus trees to make panels and sheets. The company had only one production line in Salto, Sao Paulo when it started. However, today, the company has more production lines thus making it one of the largest companies in the country. The company now produces acoustic ceilings and soft panels using wood fibers. It also produces acoustic and insulation panels. According to the company, it envisages environmental comfort and acoustic when developing products.
In his recent comments, Flavio noted that even though the construction industry in Brazil experienced challenges as a result of economic recession, it would gradually recover to record 11 percent growth in the coming years. As a result, sales of building materials will begin to increase.
Read more; https://pt.wikipedia.org/wiki/Fl%C3%A1vio_Maluf
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