Stone Energy merges with Talos Energy
LAFAYETTE - Houston-based offshore oil and gas firm Talos Energy says it's acquiring Lafayette-based Stone Energy in a merger worth nearly $2 billion.
The deal means that Talos, a private equity firm, will go public on the New York Stock Exchange with Stone, which is traded publicly. The new company will be known as Talos Energy Inc.
In a joint news release Tuesday, company officials said the merger is expected to close in the second quarter of 2018.
Talos' shareholders will own 63 percent of the combined company and Stone's will own 37 percent Talos CEO Timothy Duncan will remain in his position. The new company will be based in Houston, with offices in Lafayette and New Orleans. Its corporate board will have six members designated by Talos and four by Stone.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
New Baton Rouge baseball team facing tight stadium renovation deadline
Teachers allege misconduct by McKinley High administrators, demand more oversight
Assumption Parish continues to see rising water
Company claims all is well as thousands complain over missed trash pick-ups
Senate votes on bill lifting constitutional right to abortions