Tim Duncan could only watch helplessly as two days of torrential rains that accompanied Hurricane Harvey succeeded in causing the roads leading to his Kingwood, Texas home become impassable. The power to the neighborhood was long gone and the night was approaching when word began to pass that much more rain was expected. Duncan, his wife Christy, their six-year-old son, and the two dogs owned by the family had no choice but to leave the whole of their possessions behind and opt for the safety of a waiting FEMA boat. Tim Duncan was 45 years old and Talos Energy’s chief executive. He had been busy the previous four months negotiating a deal that included a $2.5 million merger of his own company with Stone Energy.
Stone Energy was a publicly traded company that at the time was completely bankrupt and many insiders wondered aloud if Duncan could be making a big mistake attempting to execute the merger. Tim Duncan is known for being a man of high energy with a knack for making the best of bad situations. The most valuable asset held by Talos Energy is its Phoenix field that was originally developed by Chevron and is located a little over 150 miles south of New Orleans. When Hurricane Rita attacked the area in 2005, the 13,000-ton platform was capsized and sent floating across the Gulf of an estimated distance of 60 miles.
Tim Duncan and Talos Energy proved to be the only company willing to perform the cleanup necessary to restore the Phoenix platform and it now pumps 16,000 barrels of oil a day into a ship known as the Helix Producer that was once a part of a cleanup effort of its own when it was used to take part in the recovery of 4 million barrels of oil that following the Deepwater Horizon Disaster. Needless to say, Duncan was able to execute the merger with Stone energy and among other valuable assets is now in control of the $200 million Pompano Platform. The naysayers are still watching but the track record of Tim Duncan assures that not many will bet against him.