Offshore staff
HOUSTON — Talos Energy has executed agreements to acquire QuarterNorth Energy, a privately owned E&P company operating deepwater fields in the US Gulf of Mexico, for $1.29 billion.
QuarterNorth’s production this year is set to average about 30 MMboe/d, 75% of which is oil. Its producing portfolio includes six major fields, Talos said, of which 95% are operated and in deep water.
The company operates the Katmai discovery in the Green Canyon region with a 50% interest, producing an estimated 27 MMboe/d from two early-life wells. Production is set to rise above 34 MMboe/d over the next few years based on a planned development involving two future wells and a facilities upgrade in early 2025.
QuarterNorth also has interests in the Big Bend, Galapagos, Genovesa and Gunflint fields, each said to have strong production histories with future development potential.
The deal adds proven reserves of about 69 MMboe, Talos added.
The transaction is expected to close by the end of the first quarter of 2024, subject to certain customary closing conditions and regulatory approvals.
01.16.2024
