Save for later Print Download Share LinkedIn Twitter Gulf of Mexico operator Talos Energy is reportedly in “advanced” talks to buy private equity-backed rival Enven Energy in a move that could dramatically increase Talos’ E&P asset base as it attempts to diversify its business strategy. Citing unnamed sources, Reuters reported that Talos and Enven are discussing a potential deal for the private player, priced at around $1 billion. Talos would likely primarily use its own stock to fund the purchase, according to Reuters. Energy Intelligence was unable to confirm the rumored talks or any details around the potential deal. If such a deal were to materialize, it would be one of the largest M&A deals in the Gulf so far this decade and the largest corporate combination in the region since Kosmos Energy bought Deep Gulf Energy for more than $1.2 billion in 2018. A merger between Talos and Enven would make strategic sense for both companies. Enven’s assets include six operated production platforms and around 44 deepwater leases on their primary terms. Production is projected to average 23,000-26,000 boe/d in 2022, according to a March presentation posted on Enven’s website.