Core Insights - Talos Energy Inc. reported record production for the fifth consecutive quarter, achieving approximately 101 MBoe/d in Q1 2025, alongside strong Adjusted EBITDA and Free Cash Flow [3][8][12] - The company maintains a significant cash balance and an undrawn credit facility, positioning it well to manage commodity price fluctuations [4][21] - Talos expects to remain free cash flow positive for the full year 2025, even with oil prices around $40 per barrel [4][22] Production and Operational Highlights - Talos completed well operations on the Sunspear discovery and expects first production in late Q2 2025, projecting production of approximately 8-10 MBoe/d gross [7][8] - Completion operations for Katmai West 2 have commenced, with first production also expected in late Q2 2025 [7][8] - The company anticipates drilling operations on the Daenerys prospect to begin in late Q2 2025, with significant resource potential estimated between 100-300 MMBoe [9] Financial Performance - Total revenues for Q1 2025 were $513.1 million, with a net loss of $9.9 million, translating to a net loss per diluted share of $0.05 [12][37] - Adjusted EBITDA for the quarter was $363.0 million, with capital expenditures totaling $117.6 million [12][18] - The company reported a strong balance sheet with $203.0 million in cash and a Net Debt to Last Twelve Months Adjusted EBITDA ratio of 0.8x [21][36] Share Repurchase Program - In March 2025, Talos repurchased approximately 2.3 million shares for $22.0 million, with an average price of $9.61 per share [6][8] - The Board of Directors authorized an increase of approximately $42.5 million to the share repurchase program, bringing the total remaining authorization to approximately $178.0 million [6] Guidance and Future Outlook - For Q2 2025, Talos expects average daily production to range from 92.0 to 96.0 MBoe/d, with a full-year production guidance of 90.0 to 95.0 MBoe/d [22][23] - The company plans to allocate up to 50% of its annual free cash flow to share repurchases, reflecting a commitment to returning value to shareholders [8][22]

Company Overview - Talos Energy (TALO) is expected to report a quarterly loss of $0.10 per share, reflecting a year-over-year change of +23.1% [3] - Revenues are anticipated to be $499.97 million, which is a 16.3% increase from the same quarter last year [3] Earnings Expectations - The earnings report is scheduled for May 5, 2025, and could influence the stock price depending on whether the results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised 55% lower over the last 30 days, indicating a reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP for Talos Energy is 0%, suggesting no recent analyst revisions that differ from the consensus estimate [10][11] - The company holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11] Historical Performance - In the last reported quarter, Talos Energy was expected to post a loss of $0.02 per share but instead reported earnings of $0.08, resulting in a surprise of +500% [12] - Over the past four quarters, the company has beaten consensus EPS estimates three times [13] Industry Context - Another company in the same industry, SM Energy (SM), is expected to report earnings of $1.57 per share, reflecting a year-over-year change of +11.4% [17] - SM Energy's revenues are projected to be $822.88 million, up 47% from the previous year [17] - Despite a recent 17.9% downward revision in EPS estimates, SM Energy has an Earnings ESP of 9.01% but holds a Zacks Rank of 5 (Strong Sell), complicating predictions for an earnings beat [18]

Core Points - Talos Energy Inc. plans to release its first quarter 2025 results on May 5, 2025, after the U.S. financial market closes [1] - A conference call will be held on May 6, 2025, at 10:00 AM Eastern Time to discuss the results [1] - The conference call will be accessible via a webcast link on the company's website and through a toll-free number for North American listeners [2] Company Overview - Talos Energy is an independent energy company focused on maximizing long-term value through its Exploration & Production business in the U.S. Gulf of America and offshore Mexico [3] - The company emphasizes technical expertise, safe operations, environmental responsibility, and community impact in its operations [3]

Group 1 - Talos Energy is a relatively small player in the offshore upstream oil and gas business [2] - The company has recently completed an acquisition that enhances its position in the market [2] - The oil and gas industry is characterized as a boom-bust, cyclical industry requiring patience and experience [2] Group 2 - The analysis provided in the article focuses on the balance sheet, competitive position, and development prospects of oil and gas companies [1] - Members of the Oil & Gas Value Research service receive early access to analysis and insights not available on the free site [1]

Core Insights - Talos Energy reported revenue of $485.19 million for the quarter ended December 2024, marking a 26% increase year-over-year, although it fell short of the Zacks Consensus Estimate by 4.46% [1] - The company achieved an EPS of $0.08, a significant improvement from -$0.01 in the same quarter last year, resulting in a 500% EPS surprise compared to the consensus estimate of -$0.02 [1] Financial Performance - Talos Energy's average net daily production volumes included 69 million barrels of oil, slightly below the analyst estimate of 69.09 million barrels [4] - Total average net daily production was 98.7 million barrels of oil equivalent, slightly exceeding the estimate of 98.54 million barrels [4] - Natural gas production averaged 124.8 million cubic feet, surpassing the estimate of 122.75 million cubic feet [4] - NGL production was 8.9 million barrels, slightly below the estimate of 9 million barrels [4] Revenue Breakdown - Revenue from NGL was reported at $17.43 million, exceeding the estimate of $15.03 million, reflecting a year-over-year increase of 127.7% [4] - Revenue from natural gas was $29.84 million, slightly below the estimate of $30.13 million, but still showing a year-over-year increase of 103.7% [4] - Oil revenue was reported at $437.91 million, falling short of the estimate of $460.69 million, but still representing a year-over-year increase of 20.8% [4] Stock Performance - Over the past month, Talos Energy's shares have returned -8.8%, compared to a -2.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Exhibit 99.1 Talos Energy Announces Fourth Quarter and Full Year 2024 Operational and Financial Results Houston, Texas, February 26, 2025 – Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced its operational and financial results for the three and twelve months ended December 31, 2024. Talos also announced its year-end 2024 reserves figures and 2025 operational and financial guidance. Fourth Quarter 2024 and Recent Highlights Full Year 2024 Highlights Talos Interim Chief Executive Offi ...

Talos Energy (TALO) Q4 2024 Earnings Call February 27, 2025 10:30 PM ET Company Participants Clay Jeansonne - Head Of Investor RelationsBill Moss - Interim CEO, Co President and General CounselSergio Maiworm - Interim Co President and Chief Financial OfficerJohn Spath - Interim Co President and Head of OperationsNathaniel Pendleton - Vice PresidentMichael Scialla - Managing DirectorJeffrey Robertson - Managing DirectorMichael Furrow - Vice PresidentNeil Mehta - Head of Americas Natural Resources Equity Rese ...

Financial Data and Key Metrics Changes - Talos Energy achieved record production of 98.7 thousand barrels of oil equivalent per day in Q4 2024, with 70% being oil and 79% liquids [15][18] - The company reported record EBITDA of $362 million for Q4 2024, resulting in an EBITDA netback margin of approximately $40 per barrel of oil equivalent [15][18] - For the full year 2024, Talos produced 92.6 thousand barrels of oil equivalent per day, generating total annual EBITDA of approximately $1.3 billion and record free cash flow of $511 million [18][19] Business Line Data and Key Metrics Changes - The successful drilling of the Katmai West number two well was completed 35% under budget and over a month ahead of schedule, indicating strong operational execution [13][33] - The company initiated completion operations for the Sun Spirit well, expected to be online in Q2 2025, and plans to complete the Katmai West number two well before drilling the Daenerys exploratory well [14][29] Market Data and Key Metrics Changes - Talos Energy's proved reserves increased to 194 million barrels of oil equivalent, with approximately 74% being oil, and a PV-10 value of about $4.2 billion [17] - The company also holds an additional $3 billion in probable reserves, bringing the total value to approximately $7.2 billion [17] Company Strategy and Development Direction - The company plans to invest between $500 million and $540 million in 2025, with production expectations of 90 to 95 thousand barrels of oil equivalent per day, of which approximately 69% is expected to be oil [23][24] - Talos Energy aims to maintain a strategic balance across low-risk development, exploitation, and exploration projects while focusing on cost-efficient production enhancements [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate significant free cash flow in 2025, despite planned maintenance and potential weather-related downtimes [29][76] - The new CEO, Paul Goodfellow, is expected to refine the strategic plan and identify key drivers of success during his first 100 days [10][141] Other Important Information - The company fully repaid its credit facility during 2024, reducing its leverage ratio to 0.8 times net debt to EBITDA, and ended the year with a cash position of $108 million [13][21] - Talos Energy has a strong commitment to health and safety, achieving approximately 6.6 million man-hours worked without a reportable incident in 2024 [42][43] Q&A Session Summary Question: Insights on Katmai field performance - Management indicated that the Katmai field is performing better than initial expectations, with potential upside beyond the estimated 200 million barrels [49][50] Question: Production shape throughout 2025 - Management outlined that production is expected to be stable in Q1, with planned downtimes in Q2 and Q3 due to maintenance and hurricane risks, leading to an exit rate of 90,000 to 95,000 barrels per day [52][55] Question: 2025 CapEx and production outlook - The 2025 capital program is influenced by high drilling efficiency, allowing for a lower capital expenditure while still generating significant free cash flow [61][62] Question: Potential for share buybacks - Management stated that capital returns to shareholders are always considered, and plans will be communicated after the new CEO's strategic review [66] Question: Update on Daenerys drilling timeline - The Daenerys prospect is expected to begin drilling in late Q2 2025, with results anticipated in late Q3 or early Q4 [80] Question: Regulatory environment and lease sales - Management expects more regular lease sales under the current administration, which could positively impact future operations [101] Question: Update on Mexico assets - Talos Energy continues to focus on the Zama project in Mexico and is finalizing a sale of its subsidiary to the Carso Group, expected to close soon [148]

4Q 2024 Earnings Conference Call & Webcast February 27, 2025 1 www.talosenergy.com NYSE: TALO Cautionary Statements Cautionary Statements The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of historical fact included in this presentation, regarding our strategy ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38497 Talos Energy Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-3532642 (State or other ...