Talos Energy founder and former CEO Tim Duncan has been named executive chairman of a newly formed E&P company, 1947 Oil&Gas plc, which has signed a term sheet to acquire Renaissance Offshore LLC, an operator of mature, shallow-water assets in the US Gulf of Mexico (also referred to as the Gulf of America).
Named for the year offshore oil development began in the Gulf, 1947 Oil&Gas is preparing to launch an initial public offering on the London Stock Exchange’s Alternative Investment Market (AIM) in 2Q2026, according to the company’s website.
Duncan built Talos into what became one of the largest independent producers in the Gulf. He is also a former Hess executive and currently serves on the board of Expand Energy, a gas producer formed in 2024 through the merger of Chesapeake Energy and Southwestern Energy.
1947 Oil&Gas executives include:
- Jeff Currie, nonexecutive director. He is the former global head of commodities research at Goldman Sachs, and most recently served as chief strategy officer for Energy Pathways at The Carlyle Group.
- Ivan Murphy, co-founder and director. He is a natural resources investment banker, founder of Cove Energy plc, and executive chairman of Harena Rare Earths plc.
- Brian Romere, co‑founder, president, and CFO of Renaissance Offshore, will join 1947 Oil&Gas as president and CFO.
Houston-based Renaissance Offshore currently produces about 3,000 BOED from shallow-water assets in the Gulf and is targeting production of more than 4,000 BOED in 2027. Following the acquisition, those assets will form 1947 Oil&Gas’ operational base, with the new company aiming to increase output to above 4,000 BOED in 2027.
The company’s name is derived from the fact that the first offshore oil well completed beyond sight of land, the Kermac No. 16 well in the Gulf’s Ship Shoal Block 32, was drilled in 1947, an event that introduced fixed offshore platform drilling and laid the foundation for modern offshore exploration.
Renaissance was founded in 2011 to acquire and develop legacy oil fields in the Gulf. The company says it specializes in production optimization and field development through drilling and workovers. From 2012–2014, Renaissance acquired 16 producing fields in the region, assuming operatorship of 15 and full ownership of most assets.