Talos Energy Sells Low-Carbon Solutions Unit for $148 Million
Provided by
Dow Jones
By Dean Seal
Talos Energy has divested its low-carbon solutions business to TotalEnergies E&P USA for about $148 million.
The Houston-based Talos said Monday the sale carries a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash.
The sale includes all of Talos' carbon capture and sequestration business, including three projects along the Gulf Coast. Talos may realize additional future cash payments based on the achievement of certain milestones.
Talos intends to use the proceeds of the sale to pay off debt and other general corporate purposes.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 18, 2024 10:10 ET (14:10 GMT)
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