Talos Energy has acquired EnVen Energy Corp., a company that engages in the exploration, development, extraction and production of oil, gas and related hydrocarbons in the Gulf of Mexico.
Following the acquisition, Talos has 126.37 million of common stock outstanding and a market capitalization of $2.5 billion, assuming the closing share price as of Feb. 10.
“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 Timothy Duncan, president and CEO of Talos. “The added scale and greater free cash flow generation ability also allows us to be even more competitive in our carbon-capture and sequestration business.”