Talos Energy and its Mexican subsidiary, Talos Mexico, have sold an additional 30.1% stake in Talos Mexico to Zamajal, which is 90% owned by Grupo Carso and 10% by Control Empresarial de Capitales.
Talos Mexico’s assets include a 17.4% interest in the Zama Field.
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The transaction, valued at $82.7m (1.67bn pesos), includes a cash payment of $49.7m at closing and $33m upon first commercial production from the Zama Field.
Upon completion, Talos Mexico will be 20% owned by Talos Energy and 80% by Zamajal.
The sale is expected to significantly bolster Talos’s financial position and be closed upon receiving regulatory approvals.
Talos Interim president and chief executive officer Joseph Mills stated: “We are pleased to execute this important transaction with Carso on Zama, crystallising benefits to Talos’s stockholders. This transaction allows us to maximise stockholder returns, maintain our involvement in Zama and contribute to its continued progress.”
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By GlobalDataIn addition to the sale, Talos Energy has entered into a cooperation agreement with Control Empresarial de Capitales, which owns around 24% of Talos’ common stock.
Under the agreement, Control Empresarial will refrain from increasing its shareholding in Talos common stock above 25% until 16 December 2025.
In September, Talos Energy announced an oil and natural gas discovery in the Gulf of Mexico, with up to 25 million barrels of oil equivalent (mboe) in estimated resources from an underwater well.
Preliminary data from the Ewing Bank 953 well suggests that total resources of 15–25mboe are present with an initial gross production rate of 8,000–10,000 barrels per day.
The company expects first production to begin in mid-2026.
In January 2024, Talos Energy signed a $1.3bn deal to acquire QuarterNorth Energy, aiming to expand its deep-water asset portfolio in the Gulf of Mexico.
The acquisition includes 24.8 million shares of Talos common stock and approximately $965m in cash.
