Houston upstream co. to buy Gulf of Mexico assets

Houston-based Talos Energy Inc. (NYSE: TALO) has made a deal to pick up a series of assets from Castex Energy 2005 LP in a bolt-on acquisition.

Talos will pay $65 million for the assets, of which 10% will be cash and the rest will be stock, according to a press release. The deal includes 16 fields in the Gulf of Mexico, and the assets have produced operating cash flow of about $31.2 million in the yearlong period preceding March 31.

Talos already had a working interest in the assets, but the deal…