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.
RELATED
Talos Energy Announces Shareholder Approval of EnVen Acquisition
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.
RELATED
Talos Energy Snags EnVen for $1.1 Billion
"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.”
Recommended Reading
Exxon, Chevron Beat 3Q Estimates, Output Boosts Results
2024-11-01 - Oil giants Chevron and Exxon Mobil reported mixed results for the third quarter, with both companies surpassing Wall Street expectations despite facing different challenges.
Souki’s Saga: How Tellurian Escaped Ruin with ‘The Pause,’ $1.2B Exit
2024-09-11 - President Biden’s LNG pause in January suddenly made Tellurian Inc.’s LNG export permit more valuable. The company’s July sale marked the end of an eight-year saga—particularly the last 16 months, starting with when its co-founder lost his stock, ranch and yacht in a foreclosure.
Quantum Raises $10B for Oil, Gas, Midstream, Energy Transition
2024-10-29 - Quantum Capital Group raised $5.25 billion for its private equity flagship, Quantum Energy Partners VIII. A source told Hart Energy that most of the firm’s capital has gone into oil and gas because it offers the best risk-adjusted returns.
Mexico Pacific Working with Financial Advisers to Secure Saguaro LNG I FID
2024-10-23 - Mexico Pacific is working with MUFG, Santander and JP Morgan to arrange the financing needed to support FID and the anchor phase of Saguaro Energía LNG.
Exclusive: Why Family Offices Favor ‘Lower-Risk’ Oil, Gas Investments
2024-11-22 - Evan Smith, Stephens’ senior vice president for investment banking, describes growth in the company’s network of family offices, specifically those investing in the energy sector, in this Hart Energy Exclusive interview.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.