HOUSTON — As special counsel to the independent board members of Castex Energy 2005 Holdco, LLC (“Castex”), Thompson & Knight, LLP represented certain subsidiaries of Castex in the sale of 16 selected oil and gas assets to Talos Energy Inc. (‘Talos”) for a total purchase price of $65 million, including a combination of cash and common stock of Talos. In the transaction, Castex Offshore, Inc. will sell certain operated interests in assets which are located on the U.S. Gulf of Mexico Shelf. Additionally, Castex Energy Partners, LLC will sell certain non-operated interests in South Louisiana. The assets include proved reserves of approximately 17.6 MMBoe, with two-thirds classified as proved developed reserves.
The Firm’s team was led by Corporate Partner Barry Davis, and included Heath C. DeJean and Brooke Alger (corporate); Stacy Smith Brown (oil and gas/regulatory); Stephen W. Grant, Jr. (capital markets); Ashley T. K. Phillips (environmental); and Kathleen Gerber (tax).
Intrepid Partners acted as exclusive financial advisor to Castex in the transaction.
The transaction is effective April 1, and closing is expected in the third quarter of 2020.