Talos Energy LLC (Talos), headquartered in Huston, TX, announced earlier this month, a partnership with well-respected Apollo Global Management, LLC and Riverstone Holdings, LLC. The outcome of the partnership will be a new company with up to $600 million of equity commitments focusing on oil and gas opportunities.
Pierre Lapeyre and David Leuschen, Co-Founders of Riverstone, said, “We are excited to build another company with Tim and his team of experienced industry executives. This investment exemplifies Riverstone’s strategy of re-partnering with proven management teams with deep, basin-focused operating expertise. We look forward to repeating the success we had with Phoenix.”
Tim Duncan, CEO and President of Talos and his team have worked together for over a decade and have provided the most successful private equity-backed companies. The team will focus on the oil and gas opportunities located along the Gulf Coast and New Mexico.
Tim Duncan, Chief Executive Officer of Talos commented, “We are excited to have Apollo and Riverstone, two premier private equity investors with deep expertise in natural resources, as our equity sponsors in Talos. We are fortunate to have such a long-standing, cohesive management team at Talos and we are confident in our ability to create value for our investors by executing a broad range of business development opportunities. We believe with the right professionals and technical approach, the Gulf Coast and Gulf of Mexico continues to be a rewarding basin to acquire assets and use innovative techniques to develop another round of investment opportunities. We will use the experiences of our previous successful efforts to build Talos into a significant exploration and production company.”
About Apollo Global Management
Apollo Global Management is a leading global investment manager. Apollo has assets under management of more than $75 billion as of December 31, 2011. The company manages, private equity, credit-oriented capital markets and real estate funds invested in 9 different industries, and considered highly knowledgeable about natural resource industries.
About Riverstone Holdings LLC
Pierre Lapeyre and David Leuschen are Co-Founders of Riverstone Holdings, LLC, an energy and power-focused private equity firm a private equity firm with approximately $18 billion under management across seven investment funds, including the world’s largest renewable energy fund.