HOUSTON – Talos Energy Inc. (NYSE: NYSE:TALO), an independent energy company, has completed its acquisition of QuarterNorth Energy Inc., expanding its asset portfolio in the energy sector. With the closure of this transaction, Talos has increased its shares of common stock to approximately 183 million, including roughly 24.4 million shares allocated to QuarterNorth shareholders as part of the deal.
The company also announced the appointment of Joseph A. Mills, a QuarterNorth designee, to the Talos Board of Directors. Talos is poised to revise its operational and financial guidance for 2024 shortly, reflecting the acquisition's completion.
Timothy S. Duncan, President and CEO of Talos, expressed optimism about the acquisition, stating that it was finalized ahead of schedule and is expected to bring operational efficiencies and financial benefits. Duncan highlighted the potential for the newly acquired deepwater assets to bolster the company's ability to generate free cash flow and provide additional growth opportunities.
Talos Energy, which operates in the United States and offshore Mexico, focuses on Upstream Exploration & Production and Low Carbon Solutions. The company aims to maximize long-term value through technical expertise and operational efficiency, with an emphasis on safety.
This news is based on a press release statement from Talos Energy.
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