Talos' acquisition of EnVen strengthens the company's position as an operator in the Gulf of Mexico, says Talos president and CEO Timothy Duncan. (Source: Shutterstock)
Talos Energy Inc. announced the completion of its previously announced acquisition of EnVen Energy Corp. on Feb. 13 in a press release.
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Upon the acquisition’s closing, Talos has approximately 126,370,000 shares of common stock outstanding and a market capitalization of $2.5 billion, assuming the closing share price as of Feb. 10.
Talos’ board of directors was also modified—the Riverstone Holdings representative Robert Tichio, who was serving on Talos’ board of directors, has resigned following the completed acquisition deal, and two directors chosen by EnVen—Shandell Szabo and Richard Sherrill—have been appointed to the Talos board of directors.
Talos first announced the $1.1 billion acquisition in September 2022.
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"We are excited to close the EnVen transaction, which adds significant scale and diversity to our business, and integrate these high-margin, oil-weighted assets, operated infrastructure and overlapping acreage into our portfolio, strengthening our position as a safe, reliable, responsible operator in the Gulf of Mexico,” said Talos president and CEO Timothy S. Duncan. “The added scale and greater free cash flow generation ability also allows us to be even more competitive in our Carbon Capture & Sequestration business.”
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