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US energy producer Talos set to name Shell's Goodfellow as next CEO, sources say
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US energy producer Talos set to name Shell's Goodfellow as next CEO, sources say
Feb 2, 2025 6:28 PM

Feb 2 (Reuters) - Talos Energy ( TALO ), a mid-sized

U.S. oil producer with operations in the Gulf of Mexico, is

poised to name veteran Shell executive Paul Goodfellow

as its next CEO, two people familiar with the matter said on

Sunday.

The appointment of Goodfellow, who currently serves as chief

internal auditor at Shell, is expected to be announced as soon

as this week, the sources said, requesting anonymity because the

matter is confidential.

Goodfellow will succeed Talos' founder and long-time CEO Tim

Duncan, who abruptly left the company in August after helping it

grow into the fifth-largest oil and natural gas producer in the

U.S. Gulf of Mexico during his 12-year stint.

A Shell veteran of 34 years, Goodfellow has held numerous

roles at the energy major, which is the largest operator in the

Gulf of Mexico. This includes previously serving as executive

vice president for deep-water operations and as chairman of

Shell Midstream Partners, according to his LinkedIn profile.

Talos and Shell did not immediately respond to requests for

comment.

Houston-based Talos, which has a market capitalization of

about $1.8 billion, has been searching for a new chief executive

since Duncan's surprise departure. On Jan. 6, Talos said it had

identified a new CEO, without naming the person, at the same

time that interim CEO Joseph Mills stepped down to pursue other

opportunities.

Since Duncan's departure, the company also weathered a spat

with top shareholder Carlos Slim, whose investment firm holds a

24% stake in the company. Talos briefly adopted a so-called

poison pill to prevent the Mexican billionaire from trying to

take control of the company.

Talos was founded in 2012 by Duncan, with the backing of

private equity firms Apollo Global Management and Riverstone

Holdings, which invested a combined $600 million in the company.

The oil producer, which went public in 2018 through a

reverse merger with fellow offshore operator Stone Energy,

produced 96,500 barrels per day of oil equivalent on average in

the third quarter, according to its most recent quarterly

earnings presentation.

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