Talos Founder Tim Duncan Joins 1947 Oil While Carlos Slim Sells $40M Stake
Control Empresarial de Capitales reduced its Talos Energy stake by roughly $40 million after shares rallied to three-year highs in March, retaining a remaining combined energy portfolio worth over $1.3 billion. Separately, Talos founder Tim Duncan will serve as executive chairman of industry newcomer 1947 Oil & Gas Plc.
1. Slim Reduces Talos Stake
Control Empresarial de Capitales sold approximately $40 million worth of Talos Energy shares this year, trimming its position after shares reached three-year highs in March. The family’s combined holdings across Talos and PBF Energy still exceed $1.3 billion, underscoring continued long-term exposure despite selective profit-taking.
2. Talos Founder Becomes 1947 Executive Chairman
Tim Duncan, founder of Talos Energy, has been appointed executive chairman of 1947 Oil & Gas Plc, a new offshore-focused company. 1947 has agreed to acquire Renaissance Offshore LLC, which produces about 3,000 barrels of oil equivalent per day with plans to exceed 4,000 barrels per day next year.