Talos Energy Agrees To Sell Talos Low Carbon Solutions - Quick Facts

(RTTNews) - Talos Energy Inc. (TALO) has entered into an agreement for the sale of its subsidiary, Talos Low Carbon Solutions LLC, to TotalEnergies E&P USA, for a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash, combined totaling approximately $148 million. The sale includes Talos's entire carbon capture and sequestration business.

Talos plans to use the proceeds from the sale to immediately repay borrowings under its credit facility and for general corporate purposes. Talos noted that it may realize additional future cash payments upon achievement of certain milestones at the Harvest Bend or Coastal Bend projects or upon a subsequent sale of these projects by TotalEnergies.