Talos Energy rises after $850 million net acquisition of Shell deepwater assets

Talos Energy

01/07/2026 11:56

** Shares of Talos Energy TALO.N rise 2.6% to $13.2 premarket
** The U.S.-based oil and gas firm says on Tuesday it is acquiring deepwater Gulf of America assets from Shell SHEL.L (with Ridgewood) for $850 million net
** Expects final net cash consideration to be approximately $450-$500 million
** The assets include a 50% working interest with operatorship in the Coulomb field and a 25% non-operated interest in BP's Na Kika platform and four associated fields - TALO
** TALO says it placed a $42.5 million escrow deposit upon signing the agreement
** Adds that the assets produce about 16 MBoe/d (mostly oil) and include ~23 MMBoe of proved reserves and ~10 MMBoe of probable reserves
** Expects to close the acquisition by the end of 2026
** At last close, TALO UP 17.1% YTD

 (Reporting by Varun Sahay in Bengaluru)
 ((Varun.sahay@thomsonreuters.com))