Talos Energy Enters Cooperation Agreement and Sells Stake in Zama Field

Houston, Texas – Talos Energy Inc. (NYSE: TALO) disclosed significant corporate moves in their recent 8-K filing with the Securities and Exchange Commission. On December 16, 2024, Talos Energy Inc. finalized a cooperation agreement with Control Empresarial de Capitales, S.A. de C.V., an entity linked to Carlos Slim’s family, who currently possess approximately 24% of the outstanding shares of Talos Energy’s common stock.

This Cooperation Agreement restrains Control Empresarial from acquiring additional voting securities of Talos Energy, ensuring that their shareholding does not surpass 25%. The pact is set to conclude on December 16, 2025, but can be terminated under specific outlined conditions as stated in the agreement.

Moreover, Talos Production Inc., an indirect wholly-owned subsidiary of Talos Energy, made a separate move by engaging in an Equity Interest Purchase Agreement on the same day. The agreement involves the sale of a 30.1% equity interest in Talos Energy Mexico 7, S. de R.L. de C.V. to Zamajal, S.A. DE C.V., an entity mostly held by Grupo Carso, S.A.B. de C.V. and Control Empresarial.

This transaction holds a cash consideration of around $82.7 million, subject to customary closing conditions and regulatory approvals. After completion, the Holding Company’s ownership structure in the Zama field will shift to 20.0% owned by Talos and 80.0% by the Purchaser, enhancing Talos Energy’s strategic assets.

Talos Energy also reported the termination of the Rights Agreement initially declared on October 1, 2024. The Rights Agreement, which allowed rights for preferred stock purchase, was amended to expire on December 17, 2024, effectively ending any outstanding rights.

On the back of these developments, Talos Energy issued a press release on December 17, 2024, highlighting the aforementioned transactions and the termination of the Rights Agreement. This sequence of significant corporate actions underlines Talos Energy’s strategic repositioning and reinforces its commitment to optimizing shareholder value.

Investors and stakeholders will be keen to track the progress and impacts of these strategic maneuvers as Talos Energy navigates its course in the energy sector. The company continues to focus on maximizing its long-term value through its operations in the Gulf of Mexico and offshore Mexico.

For more information and details regarding these agreements, interested parties can refer to the full 8-K filing on the Securities and Exchange Commission’s website.

Please note forward-looking statements and potential risks associated with these agreements, as detailed in Talos Energy’s official communications.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Talos Energy’s 8K filing here.

About Talos Energy

Talos Energy Inc, through its subsidiaries, engages in the exploration and production of oil, natural gas, and natural gas liquids in the United States and Mexico. It also engages in the development of carbon capture and sequestration. Talos Energy Inc was founded in 2011 and is headquartered in Houston, Texas.