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Castex Energy

Company Summary

Description

Castex Energy is a private oil and gas company focused on exploration and development in South Louisiana and the Gulf of Mexico Shelf.

Website

http://www.riverstonerel.com/portfolio/castex/

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Recent news

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  • 6/22/2020 - Talos Energy Acquiring... (subscriber access)
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Company Transactions

Date: 9/30/2020
Type: Acquisition

BUYERS:
  • Talos Energy Inc.
    • SELLERS:
  • Castex Energy
    • DETAILS:

    COST: 65 $MM

    VOLUMES: 6.4 MBOE/d

    NOTES:
    Talos Energy reached a deal to acquire 16 producing properties held by affiliates of Castex Energy 2005 for $65 million, which is controlled by first lien lenders following that firms bankruptcy in 2018. The deal includes proved reserves of 17.6 MMboe and daily production of 6.4 Mboe/d (15% oil, 85% gas.) Talos will fund the deal by issuing 4.95 million common shares and paying $6.5 million in cash. Closing is expected in the third quarter of 2020.
    REGIONS:
  • Gulf of Mexico

    • Date: 3/31/2020
    Type: Acquisition

    BUYERS:
  • Talos Energy Inc.
    • SELLERS:
  • ILX Holdings
  • Castex Energy
    • DETAILS:

    COST: 250 $MM

    NOTES:
    The net consideration at closing of the ILX Acquisitions and Castex Acquisitions is expected to be funded with the issuance of new Talos shares and cash from existing sources of liquidity. Talos will issue 11.0 million shares to sellers at closing, or $250 million in equity consideration based upon the volume-weighted average price for the 30 trading days ending December 5, 2019.
    REGIONS:
  • Gulf of Mexico