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
-
The $13.6B Oilfield Deal That's Actually About Clean Energy
Inside This Issue 💼 The $13.6B Oilfield Deal That's Actually About Clean Energy 💸 Waga Energy Signs a $180M Debt Financing to Accelerate Its Expansion in the US 🌫️ Deep Sky Launches Operations of ...
-
Why Texas, Arizona & West Virginia Are Making History
Inside This Issue 🗺️ Three States Just Took Control of CCS Permitting. Here's What It Means. ⛏️ QIMC's U.S. SPV, Orvian, Awarded Two RGRAs From the State of Minnesota to Advance Next-Generation Na...
-
Why Two Korean Giants Just Bet Big on US Wood Waste
Inside This Issue 🌲 Why Two Korean Giants Just Bet Big on US Wood Waste 🧪 Primary Hydrogen Identifies 8-kilometre Hydrogen Anomaly at Crooked Amphibolite Project in British Columbia 🚇 Carbon Captu...
Company Announcements
-
Waga Energy Signs a $180M Debt Financing to Accelerate Its Expansion in the US
Waga Energy Inc has signed a US$180M 4-year senior debt facility1 to boost its landfill gas (LFG) to renewable natural gas (RNG) platform in the United States, with Crédit Agricole Corporate and In...
-
SASKATOON, Saskatchewan, Nov. 27, 2025 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) ("MAX Power" or the "Company") is accelerating Canada’s first-ever Natural ...
-
Deep Sky Launches Operations of Airbus Direct Air Capture Technology at Canadian Facility
MONTRÉAL, Nov. 27, 2025 /CNW/ - Deep Sky, the Canadian carbon removal project developer, is deploying Direct Air Capture (DAC) technology developed by Airbus, Europe's largest aerospace company, at...
-
Sirona Technologies and IMC Announce Purchase of Permanent Carbon Removal Credits
Sirona Technologies and IMC Announce Purchase of Permanent Carbon Removal Credits Global quantitative trading firm IMC has purchased permanent carbon removal credits from Sirona Technologies’ DAC ...