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Talos Energy Plans to Close the EnVen Acquisition Soon: Stockholders to vote on $1.1B Deal on February 8
01/18/2023
Talos Energy Inc. is closing its $1.1 billion purchase of private operator EnVen Energy.
A special meeting for Talos' stockholders to vote on the deal and other matters is set on February 8, according to a prospectus filed on January 11 with the Securities and Exchange Commission.
Shareholders are being asked to approve the EnVen merger, which as the company considered in September would raise its Gulf of Mexico production up to 40%.
According to a January 11 press release, Talos asserted that it anticipates closing the transaction soon after the meeting.
Talos Energy Inc. supposes that adding EnVen would double its operated deepwater facility footprint, extending key infrastructure in existing Talos operating areas. More than 80% of the combined assets will be deepwater, with the company operating more than 75% of the acreage it holds interests in.
Talos is one of the largest independent operators in the U.S. Gulf of Mexico, with production operations, prospects, leases, and seismic databases spanning the basin in both Deep Water and Shallow Water. The company aims to actively grow through a balanced focus on asset optimization, development, and exploration while also seeking to add to its portfolio through acquisitions and business development.
Deepwater offshore projects are at the cutting edge of engineering capabilities and technology, requiring some of the most sophisticated and large-scale engineering on earth. Its in-house technical staff maintains decades of industry experience that uniquely positions Talos to execute challenging projects and drive value creation from its asset base.
The company operates in water depths from 0 to more than 3,000 feet and manages a diverse asset base including fixed leg, tension leg, and floating production units across the Gulf of Mexico.
EnVen engages in the exploration, development, extraction, and production of oil and gas and related hydrocarbons in the Gulf of Mexico.
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