Latham & Watkins Advises Riverstone in Sale of Offshore Gulf of Mexico Portfolio to Talos

A Houston-based corporate team handled the transaction.

December 13, 2019

Riverstone Holdings LLC ("Riverstone"), has agreed to the sale of offshore Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, LLC, ILX Holdings II, LLC and ILX Holdings III, LLC and Castex Energy 2014, LLC (all of which are managed by Riverstone) to Talos Energy Inc. (“Talos”). Specifically, Talos has signed definitive agreements to acquire all producing assets, primary term acreage and prospects of ILX Holdings and ILX Holdings II, all primary term acreage and prospects of ILX Holdings III and a subsidiary of Castex  Energy 2014. Closing of the ILX and Castex acquisitions is expected in the first quarter of 2020.

Latham & Watkins LLP represents Riverstone in the transaction with a Houston-based team led by partner Jeff Muñoz with associates Sean McKinley, Corey Allen, Sam Bentley and Luke Strother. Advice was also provided by Houston partner Tim Fenn with associate Jim Cole on tax matters; by Washington, D.C. partner Adam Kestenbaum on benefits and compensation matters; by Los Angeles partner Drew Levin with San Diego associate Denis Griffin on insurance related matters; by Houston partner John Greer on capital markets and securities matters; and by Washington, D.C. partner Jason Cruise, Brussels partner Héctor Armengod with Washington, D.C. counsel Peter Todaro on antitrust matters.

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