Business And Energy News

"Talos Energy's $1.29B Acquisition Expands Gulf of Mexico Holdings"

Talos Energy, a New York-listed company, has agreed to acquire QuarterNorth Energy for $1.29 billion, expanding its deep-water asset base in the Gulf of Mexico. The deal, expected to close by the end of the first quarter of 2024, will be paid for with 24.8 million shares of Talos's common stock and approximately $965 million in cash. The acquisition is anticipated to add approximately 30,000 barrels of oil equivalent per day to Talos's production in 2024 and is described as immediately accretive to Talos shareholders. This move aligns with Talos's strategy of leveraging existing infrastructure and complementary acreage to accelerate shareholder value creation.