Akin Gump Advises Talos Energy in Closing of Carbon Capture JV Deal
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(Houston) – An Akin Gump team advised Talos Energy Inc., which, through its Talos Low Carbon Solutions division, announced with Carbonvert, Inc. and Chevron New Energies the execution of definitive documentation and closing of the expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration (CCS) hub, effective May 1, 2022.
Under the terms of the transaction, Chevron has acquired a 50 percent stake in the expanded Bayou Bend CCS joint venture for gross consideration of $50 million to Talos and Carbonvert, consisting of $30 million of gross upfront cash and up to $20 million of gross capital cost reimbursement, expected to cover Talos and Carbonvert capital expenditures through the project's final investment decision. Click here to learn more.
Akin Gump corporate partner John Goodgame led the Talos deal team, which comprised corporate partner and climate change group co-leader Cynthia Mabry and associate Marissa Etter and tax partner and Houston partner in charge Alison Chen.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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