Talos Energy Completes Strategic Sale of Additional Stake in Zama to Grupo Carso

Talos Energy Sells Additional Stake in Zama Field

In a significant move to strengthen its position in the Mexican energy market, Talos Energy Inc. (NYSE: TALO) has successfully sold a further 30.1% interest in Talos Mexico, its wholly-owned subsidiary, to Zamajal, S.A. de C.V. This entity is predominantly owned by Grupo Carso, S.A.B. de C.V., with Control Empresarial de Capitales, S.A. de C.V. holding a 10% stake.

The financial particulars of this transaction include an upfront cash payment of $49.7 million, along with an additional $33 million pending the first commercial production from the Zama Field, bringing the total to $82.7 million. Consequently, upon the completion of this sale, Talos Mexico's ownership will shift to 20% held by Talos Energy, while Zamajal will possess an 80% stake. Talos Mexico maintains a 17.4% interest in the Zama Field, which is pivotal for the company's operational focus.

Following the anticipated commercial production milestone from the Zama Field, Talos expects to receive up to $82.9 million in contingent cash considerations. This figure not only includes the current transaction payment but also an earlier equity interest payment received by Talos.

Joseph Mills, Talos’s Interim President and CEO, expressed optimism about this strategic move. He stated, "We are pleased to execute this important transaction with Carso on Zama, crystallizing benefits to Talos’s stockholders. This transaction allows us to maximize stockholder returns, maintain our involvement in Zama, and contribute to its continued progress."

In addition to the transaction, Talos Energy has entered into a cooperation agreement with Control Empresarial de Capitales. This agreement stipulates that for the period leading up to December 16, 2025, Control Empresarial will not increase its stake in Talos beyond 25%, thereby ensuring stability in the company's shareholding dynamics.

Moreover, Talos has taken steps to dismantle its current stockholder rights plan, reinforcing its commitment to creating shareholder value and maintaining a transparent operational strategy. The amendment for termination is set to take effect immediately after its signing.

Overview of Talos Energy

Talos Energy is recognized for its innovative approach in the energy sector, particularly in maximizing long-term shareholder value through upstream exploration and production. The company focuses on key geological trends within the Gulf of Mexico and offshore Mexico. By leveraging decades of industry expertise, Talos prioritizes safe and efficient operations, environmental stewardship, and positive community engagement. For additional information about Talos Energy, interested parties are encouraged to visit www.talosenergy.com.

With this latest development, Talos Energy fortifies its operational landscape, ensuring sustained growth and collaboration in one of the industry's most promising fields.