PE-Backed Talos Acquires Energy Resource Technology for $620M
February 08, 2013
Talos Energy, a Houston-based oil and gas company backed by Apollo Global Management and Riverstone Holdings, has acquired Energy Resource Technology GOM, the oil and gas subsidiary of Helix Energy Solutions Group (NYSE: HLX), for $620 million. ERT's assets, located in the Gulf of Mexico, averaged over 16,000 barrels of oil equivalent per day in December. The acquired company will fold into Talos' wholly-owned subsidiary Talos Production. Apollo and Riverstone committed up to $600 million in equity to Talos in February 2012.