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Talos Energy Inc. inked an agreement with Hokchi Energy, a subsidiary of Pan American Energy LLC, to cross assign the Company's Participating Interest in Block 2 and Hokchi's PI in Block 31, both in the Sureste Basin offshore Mexico.
Under the agreed conditions for the swap, Talos will assign a 25% PI in Block 2 to Hokchi in exchange for a 25% PI in Block 31, which is immediately to the south of Block 2.
Hokchi will be the operator of both blocks and Talos will own a 25% PI on Block 2 and a 25% PI on Block 31.
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