Talos Energy Inc. plans to acquire privately held deepwater Gulf of Mexico (GOM) operator EnVen Energy Corp. in a $1.1 billion deal, the Houston-based independent said.

The acquisition, slated to close by the end of the year would expand the company’s production by 40% and gross acreage by 35%. The buy would give Talos another 24,000 boe/d of production, more than 80% oil-weighted and 90%-plus operated.

The GOM transaction also would add “key infrastructure in existing Talos operating areas” and double the company’s operated deepwater facility footprint. 

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