LongPath Technologies Wins Society of Petroleum Engineers' Energy Startup Competition
Published by Todd Bush on September 22, 2022
HOUSTON, Sept. 22, 2022 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced the execution of definitive agreements to acquire EnVen Energy Corporation ("EnVen"), a private operator in the deepwater U.S. Gulf of Mexico, for $1.1 billion. The strategic transaction expands Talos's Gulf of Mexico operations with high margin, oil-weighted assets, is accretive to Talos shareholders on 2023E Free Cash Flow per Share and is immediately de-leveraging.
>> In Other News: H2 Green Steel Cooperates With Greeniron H2 for Recycling of Iron Residual and Waste
Consideration for the transaction consists of 43.8 million Talos shares and $212.5 million in cash, plus the assumption of EnVen's net debt upon closing, currently estimated at approximately $50.0 million at year-end 2022. Following the transaction, Talos shareholders will own approximately 66% of the pro forma company and EnVen's equity holders will own the remaining 34%. The transaction has been unanimously approved by each company's Board of Directors. Closing is expected by year end 2022, subject to customary closing conditions.
SOURCE LongPath Technologies, Inc.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
Is Canada Quietly Winning the Carbon Race?
Inside This Issue π Inside Canadaβs Quiet Takeover of the Carbon Capture Industry βοΈ Phillips 66 to Supply SAF to British Airways in Calif π§ HyVera Distributed Energy Launches Green Hydrogen-On-De...
-
This JPMorgan Deal Could Reshape the Future of Carbon Markets
Inside This Issue π 1PointFive Announces 50,000 Metric Ton Carbon Removal Agreement with JPMorganChase π Carbon Direct Unveils First Empirical Baseline on Carbon Dioxide Removal and Environmental ...
-
Carbon Capture Just Got a $400M Boost: Are You Paying Attention?
Inside This Issue π§ͺ $400M Bet on Blue Ammonia: Industry Giants Push Carbon Capture in Louisiana π Linde Signs Long-Term Agreement to Supply Industrial Gases to World-Scale Low-Carbon Ammonia Facil...
Company Announcements
-
Aemetis Biogas Receives CARB Approval for Seven RNG Pathways
Dairy Based Renewable Natural Gas from Seven Digesters Averages Negative 384 Carbon Intensity Aemetis Receives CARB Approval for Seven Dairy Digesters Under LCFS CUPERTINO, Calif., June 27, 2025 ...
-
Ohmium and Toyota Kirloskar Motor Sign MoU to Advance Hydrogen-Based Solutions in India NEWARK, Calif. & BANGALORE, India -- Ohmium International, a leading provider of Proton Exchange Membran...
-
TOPOLOBAMPO, Mexico -- The Sembrando Vida Program and Pacifico Mexinol (Mexinol), a subsidiary of Transition Industries, have signed the first partnership agreement between the Sembrando Vida progr...
-
Milkywire Announces 15 New Carbon Removal Purchases and 3 Grants After Extensive Selection Process
Thanks to our corporate supporters, Milkywire has financed climate solutions through its Climate Transformation Fund (CTF) since 2021 to help reach global net zero. Catalyzing the nascent carbon re...