HOUSTON, Sept. 27,
2023 /PRNewswire/ -- Talos Energy Inc. ("Talos"
or the "Company") (NYSE: TALO) and its Mexican subsidiary ("Talos
Mexico") today announced the closing of the sale of a 49.9%
interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned
subsidiary of Grupo Carso ("Carso"),
a company controlled by the family of the Mexican billionaire
Carlos Slim.
As consideration for the sale, Talos received $74.85 million in cash at closing, with an
additional $49.90 million due upon
first production, for an aggregate price of $124.75 million. Talos Mexico, now owned 50.1% by
Talos Energy and 49.9% by Carso, holds a 17.4% interest in the Zama
field. Talos will remain the controlling shareholder of Talos
Mexico.
In June 2023, Mexico's Comisión Nacional de Hidrocarburos
("CNH") approved the Zama Unit Development Plan. Talos is working
with the Zama Unit's Integrated Project Team to progress the
front-end engineering and design and other workstreams required to
reach a Final Investment Decision ("FID"). Talos will co-lead the
planning, drilling, construction, and completion of all Zama wells
and the planning, execution, and delivery of Zama's offshore
infrastructure.
Talos President and Chief
Executive Officer Timothy S. Duncan
commented: "We are excited to partner with Carso on Zama, one of
the largest global shallow water oil discoveries in recent years.
We expect that Talos's strong operational track record combined
with Carso's critical local presence and global commercial
reputation will enable us to further advance Zama toward FID and
first production."
ABOUT TALOS ENERGY
Talos Energy (NYSE: TALO) is a technically driven independent
exploration and production company focused on safely and
efficiently maximizing long-term value through its operations,
currently in the United States and
offshore Mexico, both upstream
through oil and gas exploration and production and downstream
through the development of future carbon capture and storage
opportunities. As one of the Gulf of
Mexico's largest public independent producers, we leverage
decades of technical and offshore operational expertise towards the
acquisition, exploration and development of assets in key
geological trends that are present in many offshore basins around
the world. With a focus on environmental stewardship, we are also
utilizing our expertise to explore opportunities to reduce
industrial emissions through our carbon capture and storage
initiatives along the U.S. Gulf of
Mexico. For more information, visit
www.talosenergy.com.
INVESTOR RELATIONS
CONTACT
investor@talosenergy.com
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This communication may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of
1933, as amended (the "Securities Act"), and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact included in this
communication, regarding our strategy, future operations, financial
position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this communication, the words "will,"
"could," "believe," "anticipate," "intend," "estimate," "expect,"
"project," "forecast," "may," "objective," "plan" and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such
identifying words. These forward-looking statements are based on
our current expectations and assumptions about future events and
are based on currently available information as to the outcome and
timing of future events.
We caution you that these forward-looking statements are subject
to numerous risks and uncertainties, most of which are difficult to
predict and many of which are beyond our control. These risks
include, but are not limited to, our ability to reach FID on the
timeline currently contemplated or at all; government regulations
and actions by the Mexican national oil company; and the other
risks discussed in Part I, Item 1A. "Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31,
2022 and Part II, Item 1A. "Risk Factors" in our Quarterly Reports
on Forms 10-Q for the quarters ended March
31, 2023 and June 30,
2023.
Should one or more of the risks or uncertainties described
herein occur, or should underlying assumptions prove incorrect, our
actual results and plans could differ materially from those
expressed in any forward-looking statements. All forward-looking
statements, expressed or implied, included in this communication
are expressly qualified in their entirety by this cautionary
statement. This cautionary statement should also be considered in
connection with any subsequent written or oral forward-looking
statements that we or persons acting on our behalf may issue.
Except as otherwise required by applicable law, we disclaim any
duty to update any forward-looking statements, all of which are
expressly qualified by the statements in this section, to reflect
events or circumstances after the date of this communication.
View original
content:https://www.prnewswire.com/news-releases/talos-energy-completes-mexico-transaction-with-grupo-carso-301940881.html
SOURCE Talos Energy