Talos Energy Sells Low-Carbon Solutions Unit for $148 Million
By Dean Seal
Talos Energy has divested its low-carbon solutions business to TotalEnergies E&P USA for about $148 million.
The Houston-based Talos said Monday the sale carries a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash.
The sale includes all of Talos' carbon capture and sequestration business, including three projects along the Gulf Coast. Talos may realize additional future cash payments based on the achievement of certain milestones.
Talos intends to use the proceeds of the sale to pay off debt and other general corporate purposes.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 18, 2024 10:10 ET (14:10 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks