雅虎香港財經 Talos (TALO) Announces Zama's Stake in Its Mexican Subsidiary
Talos Energy Inc. (TALO) announced that Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso, has agreed to acquire a 49.9% stake in TALO’s Mexican subsidiary — Talos Mexico. Talos will continue to own the majority of Talos Mexico's shares. The transaction is slated to close by the third quarter of 2023, subject to approval by the Federal Economic Competition Commission of Mexico.
Zamajal agreed to pay $124.75 million for the aforementioned stake. The first $49.90 million is payable upon initial production, while the remaining $74.85 million will be paid at closing.
Grupo Carso is one of the world's largest conglomerates, with its headquarters in Mexico City.
Timothy S. Duncan, president and chief executive officer of Talos, expressed his delight at the company’s partnership with Carso. He stated that the collaboration dates back to the 2015 offshore lease sales in Mexico. Duncan added that Carso's investment is a testament to the economic potential of Zama and the joint venture could benefit from the conglomerate’s critical presence in Mexico.
According to Duncan, the transaction provides significant upfront cash proceeds while establishing a baseline Zama valuation for Talos shareholders, who retain a significant upside valuation as the project advances toward its first production.
In March 2023, TALO announced that the Zama Unit Development Plan was officially submitted to Mexico's National Commission of Hydrocarbons for approval. In order to oversee the ongoing development and operation of Zama, an integrated project team comprised of representatives from all four Zama Unit Holders was created.
The planning, drilling, construction and completion of all Zama wells, along with the planning, execution and delivery of Zama's offshore infrastructure will be co-led by Talos.
Zacks Rank & Key Picks
Currently, Talos carries a Zack Rank #5 (Strong Sell).
Some better-ranked stocks for investors interested in the energy sector are Sunoco LP SUN, Murphy USA Inc. MUSA and RGC Resources Inc. RGCO. While Sunoco sports a Zacks Rank #1 (Strong Buy), both Murphy USA and RGC Resources carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flows. For this year, SUN has witnessed an upward earnings estimate revision in the past seven days.
Murphy USA, a leading retailer of gasoline, operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. MUSA, with more than 1,700 stores, has witnessed an upward earnings estimate revision for 2023 and 2024in the past seven days.
RGC Resources is a holding company that offers energy and associated products and services through its operational subsidiaries — Roanoke Gas Company and RGC Midstream, LLC. RGCO has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas. For this year, the company has witnessed an upward earnings estimate revision in the past 30 days.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sunoco LP (SUN) : Free Stock Analysis Report
Murphy USA Inc. (MUSA) : Free Stock Analysis Report
RGC Resources Inc. (RGCO) : Free Stock Analysis Report
Talos Energy Inc. (TALO) : Free Stock Analysis Report
