Talos Energy will sell an additional 30.1% interest in Talos Mexico to an entity majority-owned by Mexican player Grupo Carso, the US E&P company said on Wednesday.
Talos Mexico holds a 17.4% interest in the Pemex-operated Zama oilfield, which was discovered by Talos in 2017 and lies in the Sureste Basin.
The stake will be sold to Zamajal, which is owned 90% by Grupo Carso and 10% by Control Empresarial de Capitales – the latter of which also owns 24% of Talos’s common stock.
The deal will leave Talos Mexico held 20% by Talos Energy and 80% by Zamajal.
As consideration for the stake, Talos will receive USD 49.7 million in cash at closing, with an additional USD 33 million due upon first commercial production from the Zama field.
“We are pleased to execute this important transaction with Carso on Zama, crystallising benefits to Talos’s stockholders,” Talos interim president and CEO Joseph Mills said.
“This transaction allows us to maximize stockholder returns, maintain our involvement in Zama and contribute to its continued progress.”
In May 2023, Talos sold a 49.9% interest in Talos Mexico to Grupo Carso for USD 125 million.
Talos Energy is an independent E&P player focused on the US Gulf of Mexico and offshore Mexico.
Source: theenergyyear.com