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
-
Sustaera's 3rd-Gen DAC Could Crack the $100/Ton Barrier
Inside This Issue 𧪠Sustaera's 3rd-Gen DAC Could Crack The $100/Ton Barrier â ď¸ Middle East Conflict Threatens To Derail The Region's Carbon Capture Boom đż Svante And Integrated Packaging Company A...
-
PJM's AI Power Crisis Just Got a 250MW Hydrogen Answer
Inside This Issue ⥠Plug Power Plans Hydrogen Offering in Top US Power-Grid Auction 𪨠Underground CO2 Storage, X-Rays Reveal Carbon Capture Capacity of Volcanic Rocks đ Swiss Carbon Capture Compan...
-
One Montana Site Could Supply Half of North America's SAF
Inside This Issue âď¸ Montana's $1.44B Bet on Aviation Fuel Enters Final Stretch đ Carbon Removal Coalition Forms With Goal of Attracting $100-Million in Project Investments đ¤ Prime Minister Carney...
Company Announcements
-
Next Hydrogen Secures Contracts Totaling $3.75 Million for Specialized Nuclear Application
MISSISSAUGA, Ontario -- Next Hydrogen Solutions Inc. (âNext Hydrogenâ or the âCompanyâ) is pleased to announce that it has been awarded two contracts with a combined value of approximately $3.75 mi...
-
Trafigura, a market leader in the global commodities industry, today announces that its wholly-owned subsidiary, MorGen Energy, has approved the final investment decision (FID) to begin constructio...
-
Chevron Lummus Global Expands Portfolio with Fischer-Tropsch Liquids Upgrading Solutions
Expansion strengthens hydroprocessing portfolio with proven technologies for upgrading FT derived liquid feedstock Chevron Lummus Global (CLG) announced the addition of Fischer-Tropsch (FT) liquid...
-
Ballard Announces Commercial Agreement With New Flyer For 50 MW Of Fuel Cell Bus Engines
VANCOUVER and WINNIPEG, CANADA â Ballard Power Systems (NASDAQ:BLDP; TSX:BLDP) today announced reaching a commercial agreement with New Flyer, a subsidiary of NFI Group Inc., (âNFIâ; TSX:NFI; ), a ...