Talos Energy being a newly-created joint venture between two of the biggest names in energy private equity: Riverstone Holdings and Apollo Global Management. And this isn't the first deal in the shallow-water Gulf for these players. Riverstone is also the financial backer of Fieldwood Energy--a private producer that has spent $4.5 billion over the last year buying up acreage on the Shelf, first from major Apache and most recently from SandRidge Energy. This week's deal is thus just one more indication that big money is betting on shallow-water in a major way. An intriguing observation, given the relatively short shrift the play is getting from almost everyone else. Most observers in the petroleum space consider the Shelf a declining commodity. Where conventional drilling has largely run its course over the last five decades--and big finds will be scarce going forward.