Veteran energy executive Tim Duncan, founder and former CEO of Talos Energy, has announced the launch of a new independent energy company alongside the successful acquisition of a portfolio of oil assets in the U.S. Gulf of America through the acquisition of Renaissance Offshore.

Overview of Renaissance Offshore Gulf of America operations

The newly formed company, 1947 Oil & Gas Plc, has secured interests in a set of high-quality, producing and development-stage assets located in the U.S. Gulf. The acquisition marks a significant step in building a focused offshore platform designed to deliver strong cash flow, operational efficiency, and long-term value.

“This is an exciting opportunity to build a next-generation offshore company grounded in technical excellence and disciplined capital allocation,” said Duncan. “The U.S. Gulf of Mexico remains one of the most advantaged basins in the world, with world-class infrastructure, attractive economics, and significant upside potential.”

“This is an exciting opportunity to build a next-generation offshore company grounded in technical excellence and disciplined capital allocation,” said Duncan. “The U.S. Gulf of Mexico remains one of the most advantaged basins in the world, with world-class infrastructure, attractive economics, and significant upside potential.”

Duncan, who founded Talos Energy and led its growth into a leading Gulf of America operator, brings decades of experience in offshore exploration, development, and asset optimization. Under his leadership, Talos became known for its technical innovation and strategic execution in complex subsurface environments.

The newly acquired assets are characterized by established production, near-term development opportunities, and access to existing infrastructure—providing a platform for both organic growth and future bolt-on acquisitions. The company intends to leverage advanced subsurface technologies and data-driven decision-making to maximize recovery and extend asset life.

Backed by a consortium of institutional investors, 1947 Oil & Gas aims to pursue a balanced strategy that includes responsible hydrocarbon development alongside evaluation of emerging energy transition opportunities, including carbon capture and storage (CCS) initiatives in the Gulf region.

“We see meaningful potential to integrate traditional offshore expertise with evolving energy solutions,” Duncan added. “Our goal is to create a company that is both economically resilient and aligned with the future of energy.”

KeyFacts Energy Industry Directory: 1947 Oil & Gas   l   KeyFacts Energy news: New Kid on the Block