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Tim Duncan is not a newbie when it comes to the business of oil. His father was in the same boat. What may be different about him, is the ability to seize the opportunity.
Despite starting out in small towns, his business acumen skills match those of people at Wall Street, New York. His first mentor to the business was Selim Zilkha of Zilkah Energy in the year 1996. The sale of a 50 person company to a tune of $ 1.2 billion challenged the young engineer.
He set out to accomplish one of his personal goals,’’ …challenge of building something that other folks may come to the conclusion you can’t build anymore.” Talos energy incepted in the year 2012, is leaping the Gulf of Mexico.
As the Chief Executive Officer of the company, Duncan is out to ensure that the future will be bright. The fact that supports his vision is;
Expected Growth of Phoenix Exploration
In the year 2006, Duncan co-founded company with a backing of $350 million in equity from Riverstone, Pine Brook Road, and Soros Fund. After making discoveries in the Belle Isle Field near Louisiana’s Atchafalaya Bay, they sold the company. He later acquired Phoenix and other assets in the year 2013.
Phoenix, the most significant asset of Talos, is pumping 16,000 barrels daily. On top, they reevaluated the seismic data and had discoveries 3,000 feet of the old reservoirs. The future of the company is promising.
Acreage in Mexican Water
The company was able to acquire some actioned land. With their first drill, there were able to hit a 1,000-foot-thick layer of oil-soaked sandstone containing perhaps 2 billion barrels. With such prospect in the Gulf waters, it is a promise of production for a decade.
It is one of the promising assets they acquired from Stone Energy Company. It is worth $ 200 million with several prospects that are ripe for new drilling.
Energy under Duncan is genuinely not planning to leave the Gulf of Mexico soon. But the future does look to be shinning on their favor.
Read More : www.crunchbase.com/organization/talos-energy
The community is incredibly important. It is never more important than in times of trouble. During these periods of hardship, people need to reach out to their fellow man for support. Many corporations are beginning to see the importance of supporting the community that supports them. This is leading to a trend in corporate America to open specialized branches of companies dedicated to philanthropy. These branches are able to focus all their energy on finding the best way to help the community. By doing so millions of people can find a new avenue for support when times get difficult. Stream energy is one of the companies at the forefront of this trend. They have created a new branch of their company called stream cares. Stream cares focuses on helping those in need.
One of the major projects of stream cares is helping children who are homeless or other wise in need to. The subset of stream energy finds children and helps provide financial support as well as basic needs. They also feel like it’s important to give these children a chance to just be children. So stream cares will take these children to a local water park in order to give them a day were they can just be children. For many of these kids, this may be a once-in-a-lifetime event.
Stream cares also supports other areas in need. After hurricane Harvey hit Dallas Texas the company jumped to action. Stream energy quickly reached out to those suffering and offered them assistance where they could. The relief offered by stream energy could not come at a better time as many people were struggling to survive and figure out what to do next. Stream energy is based in Dallas Texas so they considered it a point of pride to support their city. Through their efforts stream, energy was able to help thousands of people get the basic necessities that they needed. Stream energy is a direct selling energy company who has seen a great deal of growth in recent years. This gross is thanks in part to their community minded approach to business.
With the current technological advancement adopted by GreenSky Credit, customers and the small financial creditors can comfortably relax as they transact their businesses. The organization has been for a long period providing lending support services to the small creditors who could be having a large customer base but have weak financial muscles to satisfy the needs of the customers. GreenSky Credit has been chipping in to avail the required funds to keep the business of the lenders running, at the exchange of a small commission on the outstanding balances of the borrowers. This partnership with the financial institutions has also brought about the growth aspect to GreenSky Credit where it has recorded a whopping $3.5 billion during the last valuation.
In the recent past, the organization has adopted some technology that seems to be transforming the way operations are run by the three parties; GreenSky Credit, the customers, and their financial creditors. The company has brought into use an online technology platform that enables the customers to directly apply for the loans that they require without visiting their immediate lenders. In this process, the borrowers visit the GreenSky’s website where they are required to key in their personal and loan application particulars. From there, the information is sent to the specific creditor for subsequent reviews after which GreenSky is authorized to release the loan amount for the use by the borrower.
The beauty of the platform is that the process takes minutes, which would otherwise take days or even weeks for the borrower to receive the funds for their use. Also, the process is more efficient in the sense that the customers are not required to travel to the lenders’ premises for them to access the loans. All they need is a phone or a computer with some internet access, and they can walk through all the processes from the comfort of their homes.
GreenSky has made the exemplary performance under the guidance of David Zalik, who is the President, CEO and the principal of the organization. The great crew of employees of the organization has also greatly contributed to the notable success that is reflected on the end of year valuation figures.
GreenSky Credit takes pride in its ability to differentiate itself from other tech companies just starting out. The company and its CEO, David Zalik, continues to shy away from receiving any outside seed money. Offering and arranging loans for home improvement, GreenSky Credit uses old-school methods to continue to fund its business operations.
Recently, the company confidentially filed to start the process for an initial public offering, cites the Wall Street Journal. If the company does go public, it could raise nearly $1 billion and increase its overall valuation to nearly $5 billion. If Zalik does take his company public, he would be among the few tech startups that did decide to list on Wall Street. Well known tech startups like Credit Karma, Stripe and Uber continue to shy away from going public.
Although the company did file for an IPO, it could decide to scrap the idea altogether and remain private. By filing confidentially, Zalik and GreenSky Credit can take the time to prepare for the IPO out of the public’s eye. Founded in 2006, Zalik has turned the company into one of the most prominent technology-based financial companies in the country. Zalik has years of experience working with banks, and in doing so transfers a big portion of the risk to well-known banks such as SunTrust, Fifth Third and Regions.
It is an ingenious move, which does not put GreenSky Credit on the hook for borrowers who default on their loan obligations. Additionally, Zalik earns his company money by setting up arrangements where the banks pay Green Sky Credit 1 percent for servicing rights, including generating the loans. Zalik’s company also gets paid 6 percent of any loan amounts.
Consumers who are interested in applying for a loan with GreenSky Credit can apply using their smartphones, and a decision usually comes through in a manner of seconds. With the share prices of well-known online lenders such as OnDeck and Lending Club falling dramatically, GreenSky Credit could position itself as one of the top online lenders with its frictionless business model, according to some analysts.