CVX - TotalEnergies Expands Carbon Capture And Joins e-Natural Gas Coalition With Industry Giants | Benzinga
TotalEnergies SE (NYSE:TTE) inked a deal to acquire Talos Energy Inc.’s (NYSE:TALO) Low Carbon Solutions (TLCS) for $148 million.
The amount includes a purchase price of $125 million, along with customary reimbursements, adjustments, and retention of cash.
The sale includes Talos’s entire carbon capture and sequestration (CCS) business, which comprises its three projects along the U.S. Gulf Coast: Bayou Bend CCS LLC, Harvest Bend CCS LLC and Coastal Bend CCS LLC.
The transaction was based on an effective date of January 1, 2024, and closed on March 18, 2024.
Talos President and Chief Executive Officer Timothy S. Duncan stated: “Strong market interest during our capital raise provided the strategic option to fully ...