Talos Energy Inc. has completed its merger with EnVen Energy Corp., expanding its Gulf of Mexico (GOM) footprint and positioning the independent to advance the growing carbon capture and sequestration (CCS) business. 

After completing the sale, Talos reported it had an outstanding market capitalization of about $2.5 billion and more than 126 million shares of common stock, based on the closing share price on Feb. 10.

The transaction, valued at $1.1 billion, “adds significant scale and diversity” to Talos’ “oil-weighted assets, operated infrastructure and overlapping acreage” in the GOM, said CEO Timothy S. Duncan. 

EnVen’s addition is estimated to add about 24,000 boe/d in production from the Atwater Valley, Ewing Bank, Green Canyon, Mississippi Canyon and Viosca...