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
-
Return & Verified Unveil Wind-Powered Direct Air Capture Hub Scaling to 500K Tons
Inside This Issue ๐ฌ๏ธ Return and Verified Announce First 100% Wind-Powered Direct Air Capture Hub, Designed To Scale to 500,000 Tons Annually ๐ The Importance of Responsible Carbon Removal: Insight...
-
OnStream Secures $26M for Offshore Carbon Storage Hub, Announces JV Partnership
Inside This Issue ๐ฐ OnStream Receives $26 Million in Federal Funding for Louisiana Offshore Carbon Storage Hub Development and Announces Joint Venture Partnership with Major Midstream Company ๐ Ex...
-
EDF & Abraxas Partner on Green Hydrogen & Ammonia Project in Newfoundland
Inside This Issue ๐ EDF Group and Abraxas Power Corp. Announce Strategic Partnership for the Exploits Valley Renewable Energy Corporation Green Hydrogen and Ammonia Project in Newfoundland ๐ง Hydro...
Company Announcements
-
FLAGSHIPS Wins Prestigious Award at EU Hydrogen Week
The FLAGSHIPS project takes home the Best Outreach Award at EU Hydrogen Week, celebrating its pioneering role in zero-emission waterborne transport and hydrogen innovation. At the EU Hydrogen Week...
-
Haffner Energy Launches Its Hydrogen Production, Testing and Training Center in Champagne, France
Vitry-le-Franรงois, France โ November 22, 2024, 08:00 am CEST Inaugurated today, Haffner Energy's hydrogen production, testing, and training center is about to start producing renewable hydrogen us...
-
Sara Nawaz and the Institute for Responsible Carbon Removal are paving the way in a crucial sector: addressing climate change through sustainable and equitable carbon removal practices. With growi...
-
'Project Concho' Combines Proven DAC Technology, New Local Wind Power And Texas' Carbon Storage Capacity SAN ANGELO, Texas, Nov. 21, 2024 /PRNewswire/-- Carbon capture and removal project develope...