Talos Energy acquires Gulf of America deepwater assets from Shell for $850M net; borrowing base raised to $850M

TALOS ENERGY INC.

Acquires 50% WI and operatorship in Coulomb field and 25% WI in BP-operated Na Kika platform for $850M net to Talos.
Expected final net cash consideration of $450-500M after interim cash flow from July 1, 2025 effective date.
Adds 23 MMBoe proved reserves and 10 MMBoe probable; Q1 2026 production of 16 MBoe/d (~77% oil).
Borrowing base increased from $700M to $850M upon closing; $150M incremental commitments from existing lenders.
BP has 30-day preferential right on Na Kika interests; acquisition expected to close by end of 2026.

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