Talos Energy Inc. announced that contemporaneously with company entry into the Merger Agreement, company entered into the Tenth Amendment to Credit Agreement (the ?Tenth Amendment?). The Tenth Amendment, among other things, (i) permits the incurrence of additional indebtedness in order to fund the QuarterNorth Acquisition, with such indebtedness excluded from any reduction of the borrowing base that would otherwise result from such incurrence, and (ii) reaffirms the borrowing base at $1.075 billion as part of the biannual redetermination of the borrowing base, effective upon closing of the Merger. The company expected to fund the cash portion for the purchase price of the Merger via cash on hand, borrowings under bank credit facility (the ?Bank Credit Facility?) and opportunistically to the extent market conditions warrant, debt or equity financings, as appropriate.

In the event that these prospective financing arrangements cannot be obtained at all or on terms satisfactory to us, company have received a $650,000,000 commitment for a bridge credit facility from a syndicate of lenders, including some of the lenders under Bank Credit Facility, to be used to fund the cash portion of the consideration for the Merger.