Talos Energy sells its carbon capture and sequestration subsidiary, TLCS, to TotalEnergies E&P USA for $125M.
Talos Energy has sold its wholly-owned subsidiary, Talos Low Carbon Solutions (TLCS), to TotalEnergies E&P USA for $125M, raising the total value to $148M after adjustments and reimbursements. The deal includes Talos's entire carbon capture and sequestration (CCS) business, including three projects along the U.S. Gulf Coast. TotalEnergies will acquire a 25% share in the Bayou Bend project, alongside Chevron (50%, operator) and Equinor (25%). The acquisition supports TotalEnergies' commitment to reducing emissions and decarbonizing by 2050.
March 18, 2024
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