Recent news of a potential merger of Houston-based Talos Energy and the UK’s Harbour Energy was unexpected but did not come as a complete surprise to analysts who track the companies.

“[Talos] has certainly been expressive to the public markets that they believe in consolidation,” said Leo Mariani, managing director and senior research analyst at investment bank Roth MKM.

“They’ve spoken about potentially looking at deals outside the Gulf of Mexico, so I’m not massively surprised.”

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