Talos Energy farms into Repsol-operated Mexico Block 29 for 50% stake, contingent USD 30 million payment at FID
TALO•Talos takes 50% working interest in Block 29
Talos Energy signed a definitive farm-in to take a 50% working interest in Repsol-operated Block 29 offshore Mexico.
Deal terms include a contingent USD 30 million payment at FID, plus up to USD 20 million cash carry on the next exploration well.
Block 29 holds the Polok and Chinwol oil discoveries, estimated at more than 200 MMBoe of gross recoverable resources.
The partners are targeting FID in 2027, with closing subject to Mexican energy and antitrust approvals.
