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
-
California Just Cleared Washington's Path Into Cap-and-Invest
Inside This Issue 🌲 Governor Newsom Announces Key Step Forward in California Plan to Link Carbon Markets With Washington State 🍁 MAX Power's Lawson 4 Puts Western Canada on the Natural Hydrogen Ma...
-
Spiritus Lands 3 Million Tonnes of CO₂ Demand
Inside This Issue 🌬️ Spiritus Signs First Three Letters of Intent With U.S. Oil Producers for On-Site CO₂, Representing More Than 3 Million Tonnes of Annual Demand ✈️ Germany's Uniper Signs Offtak...
-
North America's RNG Food Waste Giant Just Got Bigger
Inside This Issue ♻️ Vanguard Renewables and Generate Upcycle Unite to Create North America's Largest Food Waste-to-RNG Platform 🌍 Google Is Buying Climate Impact on Two Clocks at Once ✈️ Infinium...
Company Announcements
-
New Report Shows Strong Progress in Sustainable Aviation Fuel (SAF) Availability Across the EU
The European Union Aviation Safety Agency (EASA) today published the annual report on the implementation of the ReFuelEU Aviation Regulation. The report provides a comprehensive overview of the ava...
-
Lower-Carbon Steel and Permanent Storage: CCS Expands Across the Gulf Coast
We are now capturing, transporting and storing captured CO₂ from Nucor's direct reduced iron facility in Convent, Louisiana, supporting lower-carbon steel production. Nucor is our third active com...
-
Jacobs Extends Role on German Hydrogen-Capable Direct Reduction Plant
DALLAS – Jacobs (NYSE: J) was selected to extend its role on thyssenkrupp Steel's direct reduction plant in Duisburg, Germany, continuing to provide project management office (PMO), construction ma...
-
Federal Government Developing Framework for Greater International Cooperation on Carbon Markets
OTTAWA, ON, Sept. 24, 2026 /CNW/ -- With world-class industrial expertise, geology, clean power, abundant natural resources, and a strong policy foundation, Canada has an opportunity to build a glo...