Tag: Investment Firms

Accident Claims Life of Talos Energy Worker

Talos Energy is a company based in Houston, TX. It’s one of the fastest developing companies in the Gulf region. Talos was formed in 2012 by two merger agents. After one year of service, the company bought Energy Resource Technology Company.Recently, the Federal Government is examining the death of one Talos energy worker. The accident took place on the south border of Texas. The employee whose identity was concealed died after the incident. It is believed that the accident happened while he was replacing an expired fire suppression kit. Reports from Interior Department’s Bureau of Safety and Environmental Enforcement, which was investigating the cause claimed that there was no any sign of fire or carbon emission that might have caused the accident. According to Talos, the worker was critically injured and later died.

“This is a dreadful incident, and we give our sincere condolence to the family, co-workers, and friends of our workmate,” Talos said in a statement.The dreadful accident took place while Talos was planning to be public. The company is purchasing Stone Energy in Louisiana. The budget cost is about $2 billion. The Stone Energy buying would take Talos public through a union that’s expected to be completed soon. Stone Energy has been running out of Lafayette for almost two decades. During this period stone energy has been running smoothly until the middle of last year where it went bankrupt. The downfall of oil price propelled the bankruptcy.

The company later picked last year. Apart from the accident, Talos suffered a significant blow in 2016 as it was penalized $4 million for defying government environmental and safety rules and regulation. The company declared guilty to illegally releasing waste materials into the Bay and flouting the government rules and protocols for repairing and the experimenting of blowout preventers — a tool invented to counter leakages of oil in the occasion of an accident. Talos energy should train their workers about safety measures when conducting repairs. Safety training is the only assurance of avoiding such fatalities in the future. Finally they should abide by the government rule to enhance smooth operations.