Talos Energy Announces Transaction With Pan American Energy to Cross-Assign Certain Offshore Mexico Interests
Vinson & Elkins advised Talos Energy Inc in a transaction with Hokchi Energy, S.A. de C.V., a subsidiary of Pan American Energy LLC, to cross assign Talos’ Participating Interest ("PI") in Block 2 and Hokchi's PI in Block 31, both in the Sureste Basin offshore Mexico.
Under the agreed conditions for the swap, Talos will assign a 25% PI in Block 2 to Hokchi in exchange for a 25% PI in Block 31, which is immediately to the south of Block 2. Once the transaction is completed, Hokchi will be the operator of both blocks and Talos will own a 25% PI on Block 2 and a 25% PI on Block 31.
Talos is a technically driven independent exploration and production company with operations in the United States Gulf of Mexico and in the shallow waters off the coast of Mexico.
The V&E team was led by partner Boyd Carano with Erin Mitchell and Bassam Chain. Partner Jason McIntosh and associate Curt Wimberly provided tax advice.