HEYCO Energy Group acquires Egdon Resources
This acquisition adds to HEYCO’s expanding European portfolio, following the purchase of a gas field in Northern Spain and the establishment of a Madrid office in 2022.
This acquisition adds to HEYCO’s expanding European portfolio, following the purchase of a gas field in Northern Spain and the establishment of a Madrid office in 2022.
As consideration for the sale, Talos received US$74.85 million in cash at closing, with an additional US$49.90 million due upon first production, for an aggregate price of US$124.75 million.
The contract covers the manufacture and installation of subsea production systems, flexible and rigid pipe, and umbilicals, as well as connection to the host facility.