Akin Gump Advises Stone Energy in Merger with Talos Energy

(Houston) –Talos Energy LLC and Stone Energy Corporation today announced that their boards of directors have unanimously approved the combination of Talos and Stone in an all-stock transaction that will create a premier offshore-focused exploration and production company. Akin Gump advised Stone Energy in the transaction. The new company will be named Talos Energy, Inc.

Under the terms of the transaction, each outstanding share of Stone common stock will be exchanged for one share of Talos Energy, Inc. common stock and the current Talos stakeholders will be issued an aggregate of approximately 34.2 million common shares. At closing, Talos stakeholders will own 63 percent of the combined company, with Stone shareholders owning the remaining 37 percent. Based on Stone’s stock price of $35.49 on November 20, and the terms of the proposed transaction, Talos Energy, Inc. will have an initial equity market capitalization of approximately $1.9 billion and an enterprise value of approximately $2.5 billion.

The Akin Gump team advising Stone Energy was led by oil and gas partner John Goodgame and senior counsel Rebecca Tyler. They were joined by the following individuals:

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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