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
-
Trump Administration Cancels $3.7 Billion in Clean Energy Projects
Inside This Issue 💸 Trump Administration Cancels $3.7 Billion in Clean Energy Projects, Ending Ambitious Industrial Decarbonization Efforts 🌊 A New Protocol for Carbon Removal via Direct Ocean Cap...
-
Hydrogen Just Got a Major Green Light from the Feds
Inside This Issue ⚡ Energy Department Removes Barriers for American Energy Producers, Unleashing Investment in Domestic Hydrogen 🛳️ MASH Makes Powers First Vessel Trial With Biofuel From a Carbon-...
-
Conestoga Energy Completes Drilling of Class VI Carbon Capture & Sequestration Well, Advances Toward EPA Application
Inside This Issue 🛢️ Conestoga Energy Completes Drilling of Class VI Carbon Capture & Sequestration Well, Advances Toward EPA Application 🏗️ How Microsoft and Sublime Systems Are Reinventing C...
Company Announcements
-
(Sustainable Aviation Buyers Alliance) SABA's third RFP seeks to leverage corporate demand to help move a next-generation SAF facility to final investment decision. Today (May 6, 2025), the Sustai...
-
Hartland Landfill Producing Renewable Natural Gas for FortisBC
VICTORIA, B.C.—The Capital Regional District (CRD), working together with FortisBC Energy Inc. (FortisBC) and Waga Energy Canada, has started producing Renewable Natural Gas (RNG) at a new facility...
-
A New Protocol for Carbon Removal via Direct Ocean Capture & Storage
Isometric has released a draft protocol for carbon dioxide removal (CDR) via Direct Ocean Capture & Storage (DOCS) for public consultation. The protocol outlines requirements and procedures for...
-
The U.S. Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office today removed barriers for the American hydrogen industry by updating its 45VH2-GREET modeling tool. The latest vers...