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Riverstone sells Gulf of Mexico assets
11th Dec 2019 07:03
(Sharecast News) - Energy investor Riverstone said it was selling all offshore Gulf of Mexico assets owned by affiliates of Castex Energy to Talos Energy for an undisclosed sum.
The company added that it was also selling all of the undrilled primary term acreage and prospects of ILX Holdings III to Talos for non-material consideration. Riverstone owns 25.1% of Castex 2014 and 33.3% of ILX III and has invested $52m and $155m in the companies respectively.
The net purchase price at closing of the two sales was is expected to be funded through the issue of new Talos shares and cash from existing sources of liquidity, Riverston said in a statement on Wednesday.
The company added that it was also selling all of the undrilled primary term acreage and prospects of ILX Holdings III to Talos for non-material consideration. Riverstone owns 25.1% of Castex 2014 and 33.3% of ILX III and has invested $52m and $155m in the companies respectively.
The net purchase price at closing of the two sales was is expected to be funded through the issue of new Talos shares and cash from existing sources of liquidity, Riverston said in a statement on Wednesday.