Talos Energy closes $125 million sale with Grupo Carso to develop Zama oil field offshore Mexico

(WO) – Talos Energy Inc. and its Mexican subsidiary announced the closing of the sale of a 49.9% interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso ("Carso").

Talos received $74.85 million in cash at closing, with an additional $49.90 million due upon first production, for an aggregate price of $124.75 million. Talos Mexico, now owned 50.1% by Talos Energy and 49.9% by Carso, holds a 17.4% interest in the Zama oil field.

In June 2023, Mexico's Comisión Nacional de Hidrocarburos approved the Zama Unit Development Plan. Talos is working with the Zama Unit's Integrated Project Team to progress the front-end engineering and design and other workstreams required to reach a Final Investment Decision ("FID"). Talos will co-lead the planning, drilling, construction and completion of all Zama wells and the planning, execution, and delivery of Zama's offshore infrastructure.

Talos President and Chief Executive Officer Timothy S. Duncan commented, "We are excited to partner with Carso on Zama, one of the largest global shallow water oil discoveries in recent years. We expect that Talos's strong operational track record combined with Carso's critical local presence and global commercial reputation will enable us to further advance Zama toward FID and first production."