Talos Energy Announces Strategic Acquisition of Gulf of America Deepwater Oil Assets
Talos Energy announced a definitive agreement to jointly acquire deepwater Gulf of America assets from Shell Offshore alongside Ridgewood Energy, with $850M cash consideration net to Talos and an estimated final net cash outlay of $450-500M after interim cash flows. The acquired assets add approximately 23 MMBoe of proved reserves and 16 MBoe/d of production (~77% oil), including operatorship of the Coulomb field and a 25% non-operated interest in the BP-operated Na Kika platform and four associated fields.
Key figures
- Deal Value Usd
- $850 million
- Escrow deposit
- $42.5 million
- Borrowing base new
- $850 million
- Proved reserves mmboe
- 23
- Borrowing base current
- $700 million
- Probable reserves mmboe
- 10
- Monument well net pay ft
- 245
- Acquired production mboed
- 16
- Acquired production oil pct
- 77%
- Final net cash consideration
- $450 - $500 million
- Monument well total depth ft
- 32250
- Upside sharing threshold bbl
- $60
- Incremental borrowing commitments
- $150 million
AI analysis
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