Gulf-based Talos Energy (ticker: TALO) announced today it will cross assign its participating interest (PI) in one of its blocks in offshore Mexico in exchange for PI in another block just south.

Talos Energy’s interest (Block 2), located in the Sureste Basin offshore, will be swapped with PI for another block (Block 31), operated by Hokchi Energy.


Talos will assign 25% PI in Block 2 to Hokchi in exchange for 25% PI in Block 31.

Upon transaction completion, Hokchi Energy will be the operator in both blocks, and Talos Energy will own 25% PI on both blocks.

Talos uses seismic reprocessing technology that includes both blocks. By gaining dual PI, it will move into aggregating and accelerating its investment in the var...

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