Talos Energy to acquire U.S. Gulf of Mexico oil assets
Transactions - DECEMBER 11, 2019

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Talos Energy to acquire U.S. Gulf of Mexico oil assets

by Released

Talos Energy has entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, Castex Energy and Venari Resources for $640 million.

The acquired assets produced approximately 19,000 barrels of oil equivalent per day during the third quarter of 2019. In addition, the transaction includes more than 40 identified exploration prospects located on 700,000 gross acres. Closing of the ILX and Castex acquisitions is expected in the first quarter of 2020.

“The acquisition of these assets significantly strengthens Talos’ position as a basin leading independent E&P company, providing increased scale and free cash flow, greater operational diversity and broader optionality in future growth,” said Timothy Duncan, president and CEO of Talos. “We are executing the transaction at an attractive valuation that is accretive to our shareholders and with a f

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