May 12, 2022
Chevron U.S.A., Inc. (Chevron), through its Chevron New Energies division, Talos Energy Inc. (NYSE: TALO), through its Talos Low Carbon Solutions division, and Carbonvert, Inc. (Carbonvert) announced a memorandum of understanding for an expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration hub currently held by Talos and Carbonvert. The Bayou Bend CCS lease is the first and only offshore lease in the US dedicated to CO2 sequestration.
Latham & Watkins LLP represents Chevron in the transaction with a corporate deal team led by Houston partner Lauren Anderson, with associates Omar Shariff and Janhavi Das. Advice was also provided on tax matters by Houston partner Jim Cole; on environmental matters by Orange County counsel Joshua Bledsoe; on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg; and on antitrust matters by Washington, D.C. partner Jason Cruise and counsel Patrick English.