Talos Energy has agreed to sell its wholly owned subsidiary, Talos Low Carbon Solutions (TLCS), to TotalEnergies E&P USA for a total combined price of $148 million.
Talos intends to use the proceeds from the sale to immediately repay borrowings under its credit facility and for general corporate purposes.
The sale includes Talos’ entire carbon capture and sequestration (CCS) business, including its three projects along the U.S. Gulf Coast: Bayou Bend CCS, Harvest Bend CCS and Coastal Bend CCS. Talos may realize additional future cash payments upon achievement of certain milestones at the Harvest Bend or Coastal Bend projects or upon a subsequent sale of these projects by TotalEnergies.
Robin Fielder, Talos’ executive vice president, low carbon strategy and chief sustainability officer, will continue to serve in her role for a transition period before leaving Talos to pursue other opportunities.
“Since TLCS’ inception, we have successfully appl