Helix Lands $610M From Talos In Sale Of Gulf Energy Assets

Law360, New York (December 14, 2012, 2:42 PM EST) -- Houston-based energy company Helix Energy Solutions Group Inc. has agreed to sell its Gulf of Mexico subsidiary to private equity-backed Talos Energy LLC for $610 million, Helix announced Thursday.

A Talos exploration and production subsidiary, Talos Production LLC, will acquire Energy Resource Technology GOM Inc., Helix said. In addition to the base purchase price, Helix will retain an overriding royalty interest in ERT's Wang drilling project in the deepwater Gulf of Mexico, it said.

If the Wang exploration well meets its production targets, the deal value...
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