Mexico City, May 26, 2023.
We are pleased to announce that Basham, Ringe y Correa, S.C. ("Basham") has advised Grupo Carso, S.A.B. de C.V. ("Carso") in a highly complex transaction involving the acquisition of a 49.9% interest in Talos Mexico, a subsidiary of Talos Energy ("Talos"), which owns the Company's 17.4% interest in the Zama Field, for an estimated purchase price of USD$124.75 million.
This investment marks Carso's first foray into hydrocarbon exploration and extraction activities in Mexico. In 2021, Talos filed notices of intent to submit to arbitration certain claims against the Mexican government under the Treaty between the United States of America, the United Mexican States and Canada (USMCA) and the Bilateral Investment Treaty between the United Mexican States and the Belgo-Luxembourg Economic Union (BLEU-BIT) regarding decisions adopted by the Mexican government in connection with the unitization of oil fields and the designation of Petróleos Mexicanos (PEMEX) as operator of the Zama field.
It is important to note that the closing of this transaction is subject to the approval of the Mexican Federal Economic Competition Commission ("COFECE").
The following persons were the legal advisors in this operation:
Basham (representing Carso):
Juan Carlos Serra Campillo
Pablo Nosti Herrera
Fernando Morayta Guerrero
Carolina Nogal Gomez
Fernando Osante Kretchmar
Mayer Brown LLP (Houston) (representing Talos):
José L. Valera