Talos Energy headquarters in Houston, Texas. (Shutterstock.com)
Talos Energy Inc. closed the sale of a 49.9% interest in its Mexican subsidiary Talos Mexico to Zamajal SA de CV, a wholly-owned subsidiary of Grupo Carso controlled by the family of the Mexican billionaire Carlos Slim.
The minority interest sold by Talos’ Mexico was valued at $124.8 million, Houston-based Talos said in a Sept. 27 press release. Under the terms of the transaction, Talos received $74.85 million cash at closing, with an additional $49.9 million due upon first production.
Talos Mexico, now owned 50.1% by Talos Energy, holds a 17.4% interest in the Zama Field.
“We are excited to partner with Carso on Zama, one of the largest global shallow water oil discoveries in recent years,” Talos President and CEO Timothy S. Duncan said.
Duncan said Talos’s operational track record combined with Carso’s “critical local presence and global commercial reputation” would help the company advance the Zama project toward its final investment decision and first production.
Recommended Reading
Midstream M&A Adjusts After E&Ps’ Rampant Permian Consolidation
2024-10-18 - Scott Brown, CEO of the Midland Basin’s Canes Midstream, said he believes the Permian Basin still has plenty of runway for growth and development.
CEO: Breakwall Providing Capital as RBLs ‘Materially’ Decrease
2024-10-09 - Breakwall Capital is stepping in to bridge the gap from the historic days of reserve-based lending, Breakwall Managing Partner and co-CEO Jamie Brodsky said at Hart Energy's Energy Capital Conference in Dallas.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Delek Logistics Partners Raises $166MM in Offering to Pay Debt
2024-10-11 - Delek Logisitics Partners closed an offering of 4.42 million common units to generate gross proceeds of $166 million.
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.