Talos executives said the deal would add about 30,000 barrels of oil equivalent per day (boepd) from offshore US
“The addition of QuarterNorth's overlapping deepwater portfolio with valuable operated infrastructure will increase Talos's operational breadth and production profile while enhancing our margins and cash flow,” Talos president and CEO
"We're one of those companies that's been a survivor in the
Talos said it expects to have annual run-rate savings of around
The purchase is value accretive and in line with Talos' longer-term strategy of building a large-scale offshore E&P company, said Stifel analysts in a note, Reuters reported.
QuarterNorth's producing assets include six major US
Talos said it expects the transaction to increase its base decline rate by around 20% and increase reserves beyond its current production, both from producing probable zones and from near-term development opportunities in 2024-25.
Privately held QuarterNorth, also based in
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