After completing the acquisition, Talos has approximately 183 million shares of common stock outstanding, including approximately 24.4 million shares issued to the QuarterNorth shareholders as consideration for the transaction. Additionally, Talos has appointed QuarterNorth's designee, Joseph A. Mills, to the Talos Board of Directors. Talos plans to update its 2024 operational and financial guidance to reflect the acquisition closing timing in the coming days.
Talos President and Chief Executive Officer, Timothy S. Duncan, commented: "We are excited to close this important transaction ahead of schedule as we focus on operational execution and acceleration of synergies from the transaction. We expect the addition of these predominantly operated, oil-weighted deepwater assets and related infrastructure will enhance our ability to consistently generate substantial free cash flow while expanding our portfolio of growth opportunities. We also welcome Joe Mills to our Board. Joe brings valuable experience and insight to our business as an accomplished public company executive in the energy industry and board member in the upstream and midstream business sector."
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/05032024/talos-energy-completes-acquisition-of-quarternorth-energy/