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Talos Energy to Acquire Deepwater Gulf of America Assets From Shell for $850 Million

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Talos Energy (TALO) on Tuesday agreed to jointly acquire deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy, for $850 million in cash, with Talos expecting its net consideration to be approximately $450 million to $500 million after estimated interim cash flows from the assets.

The acquired interests include a 50% working interest and operatorship in the Coulomb field and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields, the company said.

Talos plans to fund the deal through cash on hand and debt, and has secured $150 million in incremental lender commitments, raising its borrowing base to $850 million from $700 million upon closing. The deal is expected to close by year-end 2026, according to the company.

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