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 ...

分组1 - Talos Energy reported quarterly earnings of $0.08 per share, exceeding the Zacks Consensus Estimate of a loss of $0.02 per share, representing an earnings surprise of 500% [1] - The company posted revenues of $485.19 million for the quarter ended December 2024, which was 4.46% below the Zacks Consensus Estimate, but an increase from $384.96 million year-over-year [2] - Talos Energy has surpassed consensus EPS estimates three times over the last four quarters, indicating a positive trend in earnings performance [2] 分组2 - The stock has underperformed the market, losing about 11.3% since the beginning of the year, while the S&P 500 gained 1.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.07 on revenues of $491.16 million, and for the current fiscal year, it is -$0.49 on revenues of $1.93 billion [7] - The Zacks Industry Rank for Oil and Gas - Exploration and Production - United States is in the top 14% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Core Insights - Talos Energy Inc. reported strong operational and financial results for Q4 and full year 2024, with a focus on deepwater exploration and production [2][11][36] Financial Performance - Total revenues for Q4 2024 were $485.2 million, and for the full year 2024, revenues reached $1.97 billion, representing a significant increase compared to the previous year [11][56] - The company reported a net loss of $64.5 million for Q4 2024 and a net loss of $76.4 million for the full year [12][56] - Adjusted EBITDA for Q4 2024 was $361.8 million, while for the full year, it was $1.3 billion [12][56] Production and Reserves - Average production for Q4 2024 was 98.7 MBoe/d, with 70% being oil, and for the full year, production averaged 92.6 MBoe/d [14][12] - As of December 31, 2024, Talos had proved reserves of 194.2 million barrels of oil equivalent (MMBoe), with a PV-10 value of approximately $4.2 billion [25][12] Operational Updates - The Katmai West 2 well was drilled under budget and ahead of schedule, nearly doubling the proved estimated ultimate recovery (EUR) of the Katmai West field to approximately 50 MMBoe [4][12] - Talos is focusing on the Sunspear completion, expecting first production in late Q2 2025, with projected production of 8-10 MBoe/d gross [5][12] Leadership Changes - Paul Goodfellow will join Talos as President and CEO effective March 1, 2025, bringing over 30 years of experience in the oil and gas industry [8][12] Strategic Developments - Talos entered an agreement to sell a 30.1% interest in Talos Mexico for $49.7 million, with additional contingent payments expected upon first oil production from the Zama Field [9][12] - The company plans to prioritize free cash flow generation and advance key drilling projects in its 2025 operational and financial plan [36][38]

Core Insights - Talos Energy (TALO) is projected to report a quarterly loss of $0.02 per share, marking a 100% decline year over year, while revenues are expected to reach $509.9 million, reflecting a 32.5% increase from the same quarter last year [1] Earnings Estimates - The consensus EPS estimate for the quarter has been revised 38.2% higher over the last 30 days, indicating a collective reevaluation by analysts [2] - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3] Revenue Projections - Analysts estimate 'Revenues- Oil' to be $460.69 million, representing a 27% year-over-year increase [5] - 'Revenues- NGL' are projected to reach $15.03 million, indicating a significant 96.3% year-over-year growth [5] - 'Revenues- Natural gas' are expected to arrive at $30.13 million, reflecting a 105.6% increase from the prior-year quarter [5] Production Estimates - Total average net daily production is estimated to reach 98.54 million barrels of oil equivalent, up from 67.7 million barrels in the same quarter last year [6] - Average net daily production volumes for NGL are projected at 9.00 million barrels, compared to 4.9 million barrels in the previous year [6] Stock Performance - Over the past month, Talos Energy shares have declined by 11.6%, while the Zacks S&P 500 composite has decreased by only 0.5% [7] - Talos Energy holds a Zacks Rank 2 (Buy), suggesting it is likely to outperform the overall market in the upcoming period [7]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Stone Energy (TALO) as a strong value stock based on various financial metrics [2][3][6] Company Analysis - Stone Energy (TALO) currently holds a Zacks Rank of 2 (Buy) and has an A grade for Value, indicating it is among the best value stocks available [3][6] - TALO has a Price-to-Sales (P/S) ratio of 0.9, significantly lower than the industry average P/S of 2.14, suggesting it may be undervalued [4] - The company also has a Price-to-Cash Flow (P/CF) ratio of 1.51, compared to the industry's average P/CF of 5.32, further indicating its undervaluation based on cash flow strength [5][6] - TALO's P/CF has fluctuated between 1.46 and 2.79 over the past year, with a median of 1.90, showcasing its stable cash flow performance [5] Industry Insights - Value investing remains a popular strategy across various market environments, focusing on identifying undervalued companies through fundamental analysis [2] - The P/S ratio is favored by value investors as it is less susceptible to manipulation compared to earnings metrics, making it a more reliable performance indicator [4]

Core Viewpoint - Talos Energy Inc. is set to release its fourth quarter 2024 results on February 26, 2025, after market close, followed by a conference call on February 27, 2025 [1] Group 1: Financial Results Announcement - The fourth quarter 2024 results will be released on February 26, 2025, after the U.S. financial market closes [1] - A conference call will be held on February 27, 2025, at 10:00 AM Eastern Time [1] Group 2: Conference Call Access - The conference call can be accessed via a webcast link on the company's website or by dialing specific phone numbers for North American and international listeners [2] - A replay of the call will be available one hour after the conclusion until March 6, 2025 [2] Group 3: Company Overview - Talos Energy is an independent energy company focused on upstream exploration and production in the U.S. Gulf of Mexico and offshore Mexico [3] - The company emphasizes safe and efficient operations, environmental responsibility, and community impact [3]

Core Viewpoint - Talos Energy Inc. has appointed Paul Goodfellow as President and CEO, effective March 1, 2025, aiming to leverage his extensive experience in the oil and natural gas industry to enhance the company's performance and shareholder value [1][5]. Company Overview - Talos Energy is an independent energy company focused on maximizing long-term value through its Upstream Exploration & Production business in the U.S. Gulf of Mexico and offshore Mexico [6]. Leadership Background - Paul Goodfellow brings over thirty years of experience in the oil and natural gas industry, having held various senior executive roles at Shell, including leadership of Shell's global deepwater business [2][3]. - Goodfellow has served as Executive Vice President and Group Chief Internal Auditor at Shell, overseeing the internal audit function, and has held multiple leadership positions in deepwater and unconventional resources [3][4]. Strategic Intent - Goodfellow plans to spend his first 100 days understanding Talos's business and identifying key drivers of success, with the intention to collaborate with the leadership team to define the next phase of growth and develop a strategic plan [5]. - The Board of Directors expresses confidence in Goodfellow's ability to drive Talos's strategy, particularly in deepwater exploration and development, to create value for shareholders [5].

Core Insights - Talos Energy Inc. has discovered significant quantities of oil and natural gas at the Katmai West 2 well in the U.S. Gulf of Mexico, with plans to conclude casing and suspension by late January 2025 [1] - The well was completed under budget and ahead of schedule, with production expected to start in the second quarter of 2025 [2] - The Tarantula facility has been upgraded to handle larger volumes, increasing its capacity to approximately 35 Mboe/d [3] Production and Resource Potential - The production capacity of the Katmai West 2 well aligns with pre-drill expectations of approximately 15-20 MBoe/d, increasing the estimated ultimate recovery (EUR) of the Katmai West Field to about 50 million barrels of oil equivalent (MMBoe) [5] - Total recoverable resources from the region are projected to be around 100 MMBoe, with significant value expected to be generated in 2025 [6] Operational Constraints - Despite the increased capacity of the Tarantula facility, production from the Katmai wells is expected to be rate-constrained to maintain a flat-to-low decline production over time [4]