Talos Energy takes 50% stake in Repsol's Block 29 offshore Mexico

Talos Energy has agreed to acquire a 50% working interest in Block 29 offshore Mexico from operator Repsol. The block holds the Polok and Chinwol discoveries with over 200 MMboe of recoverable resources.

This article was drafted with AI assistance from multiple sources and was reviewed and approved by a human editor before publication.

Talos Energy has signed a definitive agreement to acquire a 50% working interest in Block 29 offshore Mexico from operator Repsol, the company announced.

Block 29 contains the Polok and Chinwol discoveries, which hold more than 200 million barrels of oil equivalent in gross recoverable resources, according to Talos. The partners are targeting a final investment decision in 2027.

Under the deal, Talos will make a contingent payment of $30 million once the final investment decision is reached. The company will also provide a cash carry of up to $20 million for the next exploration well and reimburse certain pre-closing costs.

The transaction expands Talos's presence in the Mexican offshore sector, where the company already holds stakes in other blocks.