Talos Closes Acquisition of U.S. Gulf of Mexico E&P Company for $1.3 Billion

Written by Paulo Nogueira

Published on 16/01/2024 at 05:20

Be the first to react!

Talos Energy Acquires QuarterNorth Energy, An Offshore Company from the USA, With Proven Reserves and Significant Oil Equivalent Production Per Day.

Talos is an energy company specializing in oil and natural gas exploration and production. Recently, Talos Energy signed definitive agreements for the acquisition of QuarterNorth Energy, a company with properties in several offshore fields in the Gulf of Mexico.

The acquisition of QuarterNorth Energy by Talos Energy will strengthen the company’s position in the oil and gas market. The expectation is that Talos‘ production will reach around 30,000 barrels of oil equivalent per day by 2024, with most of it being oil.

Talos Adds Proven Reserves and Promotes Expansion in the Offshore Energy Sector

It also contributes to proven reserves, with approximately 69 million barrels of oil equivalent (MMBoe) and a PV-10 of US$ 1.7 billion.

ARTICLE CONTINUES BELOW

Expansion of High-Quality Deepwater Business

According to the statement from Talos Energy, the acquired assets will provide additional scale, arising from prolific offshore fields with a favorable decline profile, as well as offering attractive future development opportunities.

Transaction Terms and Approval by the Boards

The consideration for the transaction includes 24.8 million shares of Talos common stock and about US$ 965 million in cash. Both boards of directors unanimously approved the transaction.

Goal for Closing the Deal and Impact on Operations

The transaction is expected to close by the end of the first quarter of 2024, subject to certain customary closing conditions and regulatory approvals. Talos CEO Timothy Duncan emphasizes that the addition of QuarterNorth’s overlapping deepwater portfolio will enhance Talos’s operational breadth and production profile, in addition to increasing margins and cash flow.

Alignment with Strategy and Potential Operational Synergies

The transaction aligns with Talos’s overall strategy of leveraging existing infrastructure and complementary areas to accelerate value creation for shareholders. The pro forma presence in the U.S. Gulf of Mexico allows for capturing significant operational synergies.

Financing Structure and Future Prospects

The expected financing structure of the transaction accelerates de-leveraging, improves credit profile, and enhances key metrics, positioning Talos to consider additional capital return initiatives following de-leveraging in the short term.

Talos Closes Acquisition of U.S. Gulf of Mexico E&P Company for $1.3 Billion

Talos Energy Acquires QuarterNorth Energy, An Offshore Company from the USA, With Proven Reserves and Significant Oil Equivalent Production Per Day.

Talos Adds Proven Reserves and Promotes Expansion in the Offshore Energy Sector

Expansion of High-Quality Deepwater Business

Transaction Terms and Approval by the Boards

Goal for Closing the Deal and Impact on Operations

Alignment with Strategy and Potential Operational Synergies

Financing Structure and Future Prospects

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

Few know, but India has a 36 km wall that surrounds a fort in the mountains and is considered the second largest in the world, behind the Great Wall of China.

Hyundai Creta 2029 appears in new spy shots with a completely revamped design, a more modern digital interior, a larger multimedia center, a more comfortable passenger seat, and electrification finally on the radar.

Former CIA analyst warns that China has already surpassed the US in missiles, electronic warfare, cyber, and military production, transforming the Pacific into a zone without safe spaces while Washington clings to its submarine advantage.

Home-built airplane by a Minas Gerais engineer uses car parts, such as a power window motor for the flaps and a tachometer on the dashboard. The project took six years, and the aircraft has autonomy to fly up to seven hours non-stop.

Talos Closes Acquisition of U.S. Gulf of Mexico E&P Company for $1.3 Billion

Talos Energy Acquires QuarterNorth Energy, An Offshore Company from the USA, With Proven Reserves and Significant Oil Equivalent Production Per Day.

Talos Adds Proven Reserves and Promotes Expansion in the Offshore Energy Sector

Expansion of High-Quality Deepwater Business

Transaction Terms and Approval by the Boards

Goal for Closing the Deal and Impact on Operations

Alignment with Strategy and Potential Operational Synergies

Financing Structure and Future Prospects

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

Braskem’s new generation tankers will cross over 5,500 nautical miles between the U.S. and Brazil, reduce CO₂ emissions by 30%, and transport naphtha with modern engines, an optimized hull, and a focus on at-sea efficiency on a strategic route.

Weatherford secures offshore contracts in Brazil through 2030 with operations in the Búzios field and Campos Basin.

Oil-bearing rocks: the most oil-rich place on the planet, with more than 30 supergiant fields and 5 billion barrels in each one

The United States releases 53.3 million barrels of oil to try to contain the energy crisis and curb global price increases.

Alert from the world’s largest oil company: blockade in the Strait of Hormuz removes 1 billion barrels from the market and may take time to normalize.

Few know, but India has a 36 km wall that surrounds a fort in the mountains and is considered the second largest in the world, behind the Great Wall of China.

Hyundai Creta 2029 appears in new spy shots with a completely revamped design, a more modern digital interior, a larger multimedia center, a more comfortable passenger seat, and electrification finally on the radar.

Former CIA analyst warns that China has already surpassed the US in missiles, electronic warfare, cyber, and military production, transforming the Pacific into a zone without safe spaces while Washington clings to its submarine advantage.

Home-built airplane by a Minas Gerais engineer uses car parts, such as a power window motor for the flaps and a tachometer on the dashboard. The project took six years, and the aircraft has autonomy to fly up to seven hours non-stop.