HOUSTON, Oct. 1, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that its Board of Directors has adopted a limited duration stockholder rights plan (the "Rights Plan"). The Rights Plan is effective immediately and will expire on October 1, 2025, unless approved by Talos stockholders at the Company's next Annual Meeting. The Board may consider an earlier termination of the Rights Plan if circumstances warrant. The Board, in consultation with its independent advi ...

HOUSTON, Sept. 17, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today published its fifth annual Sustainability Report for the 2023 calendar year. The report highlights Talos's continued commitment to transparency, emissions reduction efforts, and sustainability and governance improvements across its growing exploration and production business in the Gulf of Mexico. Talos's report was developed with reference to the Sustainability Accounting Standards Board ("SASB"), Global ...

HOUSTON, Sept. 5, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos") (NYSE: TALO) today announced that its Ewing Bank 953 well ("EW 953 well") successfully discovered commercial quantities of oil and natural gas. Separately, Talos entered into an agreement to participate in the Sebastian prospect, currently drilling in the Mississippi Canyon Block 387 of the U.S. Gulf of Mexico. The EW 953 well encountered approximately 127 feet of net pay in the target sand at approximately 19,000 feet true vertical depth (" ...

HOUSTON, Aug. 30, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that Tim Duncan has stepped down from his role as President and Chief Executive Officer, effective August 29, 2024. Joseph A. Mills, who has served on the Company's Board since March, 2024, will serve as interim President and Chief Executive Officer until a successor is in place. The Company's Board of Directors has initiated a search for a successor in partnership with a leading executive search ...

HOUSTON, Aug. 26, 2024 /PRNewswire/ -- Talos Energy Inc. (NYSE: TALO) ("Talos" or the "Company") today announced that representatives of Talos will participate at the following investor conferences. Barclays 38th Annual CEO Energy-Power Conference in New York, New York, September 3-4, 2024. Tim Duncan, President and Chief Executive Officer, will participate in a presentation on Wednesday, September 4, 2024, at 10:20 a.m. Eastern Time. This presentation will be webcast. Pareto Securities 31st Annual Energy C ...

Investment Thesis - Talos Energy (NYSE: TALO) is an emerging oil producer in the Gulf of Mexico, currently trading at a significant discount to its net asset value (NAV) [2][5] Recent Developments - Talos has expanded through acquisitions, which have increased its size and liquidity, allowing future acquisitions to be financed with fewer shares or cash and debt [4][3] - Carlos Slim has become a strategic investor, acquiring approximately 20% of Talos, which is expected to stabilize the stock price [4][8] - Management has expressed frustration with the stock price and is taking action to increase it, including initiating buybacks as the company becomes free cash flow positive [4][11] Valuation - On a NAV basis, Talos is estimated to be worth around $18, indicating a potential upside of 50% from the current price of $12 [5][10] - The valuation is not solely dependent on oil prices, as the current asset value assumes a $78 oil price, which is within the recent trading range [5][12] Shareholder Dynamics - Private equity ownership in Talos has decreased significantly, leading to reduced selling pressure on the stock [8][7] - Daily trading volumes have more than doubled, indicating increased interest from long-only shareholders [8][7] Financial Performance - Talos expects to generate $400 million in free cash flow for 2024, representing a 20% yield on market capitalization [12][11] - The company has also repaid $100 million in debt and initiated a $40 million share repurchase program [11][12] Strategic Moves - Talos sold its carbon capture business to TotalEnergies for $148 million, using the proceeds to reduce debt, which is viewed as a strategic decision [13] - The partnership with Carlos Slim is expected to facilitate smoother operations with Pemex, following the merger of Talos's Zama discovery with Pemex's adjacent block [13][14]

Financial Highlights - Talos reported an Adjusted EBITDA of $344 million for 2Q 2024[9] - The company's Adjusted Free Cash Flow (before changes in working capital) was $148 million for 2Q 2024[11] - Talos reduced its debt by $100 million in 2Q 2024[13] - Talos increased its 2024 debt reduction target from $400 million to $550 million[28] Operational Performance - Average daily production reached 955 MBOE/D in 2Q 2024, with 73% oil and 81% liquids[14] - The company's 2024 production guidance remains unchanged at 890 – 950 MBOE/D[15] - Talos repurchased 38 million shares for $43 million[14] Strategic Initiatives - Talos completed the integration of QuarterNorth and is on track with synergy realization[14, 16] - The company is pursuing select business development opportunities, including the Monument Farm-in, which has a 2P PV-10 of $265 million[15] - Talos estimates cost savings of $35+ million in 2024 and $65+ million in 2025+ due to integration and divestiture[16] Future Projects - The Greater Katmai Area has an estimated resource potential of 180 – 200 million BOE[20] - The Katmai West 2 well, expected to spud in 3Q 2024, has the potential to add material proved reserves of ~100 million BOE[21] - The Monument discovery has an estimated 2P reserves of ~115 million BOE[27]

Talos Energy (TALO) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 123.08%. A quarter ago, it was expected that this independent oil and gas company would post a loss of $0.29 per share when it actually produced a loss of $0.13, delivering a surprise of 55.17%. Over the la ...

HOUSTON, Texas, Aug. 7, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced its operational and financial results for fiscal quarter ended June 30, 2024. Talos also provided third quarter 2024 production guidance and reiterated its operational and financial guidance for the full year 2024. Key Highlights Production of 95.5 thousand barrels of oil equivalent per day ("MBoe/d") (73% oil, 81% liquids), which is at the high end of Talos's second quarter 2024 guidance r ...

Under the program, Talos management has the authority to repurchase common stock opportunistically in the open market from time to time, in privately negotiated transactions, or by such other means as will comply with applicable state and federal securities laws. The timing of any repurchases under the share repurchase program will depend on market conditions, contractual limitations, and other considerations. The program may be extended, modified, suspended or discontinued at any time, and does not obligat ...