HOUSTON, Jan. 25, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos") (NYSE: TALO) today announced that Talos Production Inc. (the "Company"), a wholly owned subsidiary of Talos, has priced an upsized offering (the "Offering") of $625 million in aggregate principal amount of new 9.000% Second-Priority Senior Secured Notes due 2029 and $625 million in aggregate principal amount of new 9.375% Second-Priority Senior Secured Notes due 2031 (collectively, the "New Notes"). The Company intends to use the net proceed ...

HOUSTON, Jan. 25, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos") (NYSE: TALO) today announced that Talos Production Inc. (the "Company"), a wholly owned subsidiary of Talos, has upsized its previously announced offering (the "Offering") of $1,250 million in aggregate principal amount of new Second-Priority Senior Secured Notes, consisting of Second-Priority Senior Secured Notes due 2029 and Second-Priority Senior Secured Notes due 2031 (collectively, the "New Notes"). The Offering has been upsized from th ...

HOUSTON, Jan. 23, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos") (NYSE: TALO) today announced that Talos Production Inc. (the "Company"), a wholly owned subsidiary of Talos, has commenced an offering (the "Offering") of $1,000 million in aggregate principal amount of new Second-Priority Senior Secured Notes, consisting of Second-Priority Senior Secured Notes due 2029 and Second-Priority Senior Secured Notes due 2031 (collectively, the "New Notes"). The Company intends to use the net proceeds from the Offe ...

HOUSTON, Jan. 17, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced the pricing of its upsized underwritten public offering of 30,000,000 shares of its common stock, for total gross proceeds of approximately $351.0 million. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 4,500,000 shares of its common stock at the public offering price. The offering is expected to close on January 22, 2024 ...

HOUSTON, Jan. 17, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that it has commenced an underwritten public offering of $300.0 million of shares of its common stock, par value $0.01 per share ("common stock"). The Company expects to grant the underwriters a 30-day option to purchase $45.0 million of additional shares of its common stock. The Company intends to use the net proceeds from this offering to fund a portion of the previously announced acquisition o ...

HOUSTON, Jan. 15, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced the execution of definitive agreements to acquire QuarterNorth Energy Inc. ("QuarterNorth") for $1.29 billion (the "Transaction"). QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields. QuarterNorth's assets will provide additional scale from high quality deepwater assets with a favorable base decline profile alo ...

Talos Energy Inc. (TALO) has commenced oil and natural gas extraction at its Lime Rock and Venice discoveries located in the Gulf of Mexico.Located near the Ram Powell platform, the wells are exclusively owned and operated by Talos. The company possesses a 60% working interest in both wells.The Lime Rock and Venice wells were commissioned in late December 2023. The initial combined gross production rate of these wells has been noteworthy. It surpassed 18,500 barrels of oil equivalent per day, with productio ...

Pla2na/iStock via Getty Images Talos Energy Inc. (NYSE:TALO) may see production increases in 2024 from the Sunspear discovery as well as Venice and Lime Rock. In my view, thanks to the CO2 storage market growing at close to 21% CAGR and TALOS's storage portfolio, the company may receive significant demand for the stock. There are obvious risks associated with future crude price volatility or lower oil reserves than expected, however, TALO does look very cheap at its current valuation. Talos Energy Talos Ene ...

HOUSTON, Dec. 22, 2023 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that it was named as the apparent high bidder on 13 deepwater blocks comprising approximately 74,000 gross acres (approximately 48,000 net acres) in the U.S. Gulf of Mexico Outer Continental Shelf Federal Lease Sale 261 held by the Bureau of Ocean Energy Management ("BOEM") on December 20, 2023. Leases for all blocks remain subject to normal-course, formal award by the Department of the Interior. ...

Financial Data and Key Metrics Changes - In Q3 2023, Talos Energy generated production of 63,700 barrels of oil equivalent per day, with 76% being oil and 83% liquids, leading to $383 million in revenue and $255 million in adjusted EBITDA, resulting in an EBITDA netback margin of approximately $45 per BOE [14][15] - The company reported a net loss of approximately $2 million or $0.02 net loss per diluted share, while adjusted net income was around $19 million or $0.15 adjusted net income per diluted share [15] - Capital expenditures for the quarter were $181 million in the upstream business and about $14 million in the CCS business, resulting in positive free cash flow generation of approximately $9 million [15][12] Business Line Data and Key Metrics Changes - The upstream business generated significant revenue and EBITDA, while the CCS business is progressing with the filing of multiple EPA Class VI permit applications [10][11] - The company is advancing its Lime Rock and Venice discoveries toward first production, with expectations for production growth from these projects in early 2024 [10][22] Market Data and Key Metrics Changes - The company anticipates production for Q4 2023 to be between 66,500 and 68,500 barrels of oil equivalent per day, aligning with the low end of the full-year guidance of 66,000 to 71,000 barrels of oil equivalent per day [26] - The company expects cash operating and G&A expenses for the full year to be between $410 million and $430 million, with capital expenditures tracking at the low end of the guided range of $650 million to $675 million [26] Company Strategy and Development Direction - Talos Energy plans to reduce capital investments in 2024 compared to 2023, focusing on generating free cash flow and evaluating reinvestment levels [16][17] - The company is actively pursuing M&A opportunities that align with its strategies and enhance shareholder value, while also maintaining a strong credit position [12][71] Management's Comments on Operating Environment and Future Outlook - Management expressed frustration with government energy policies that seem to favor certain sectors over traditional energy forms, emphasizing the need for balanced energy policy [19][35] - The company is optimistic about production growth in 2024, despite a tempered long-term growth trajectory, and aims to increase shareholder returns and debt reduction [16][17] Other Important Information - Talos closed a sale of a 49.9% minority equity stake in its Talos Mexico subsidiary for approximately $75 million, with an additional $50 million due upon first production [65] - The company is exploring capital raises for its Low Carbon Solutions business and expects to benefit from the Department of Energy's investment in a regional hydrogen hub in Texas [63][71] Q&A Session Summary Question: Can you provide thoughts on the further delay of announced lease sales? - Management expressed frustration over the delay and the impact on the industry, highlighting the need for timely lease sales to support energy development [29] Question: What are the expectations for production growth and spending in 2024? - Management indicated a focus on free cash flow generation and a potential slowdown in capital spending, with expectations for production growth despite reduced investment [38][39] Question: Can you provide details on the partnership with Repsol and its implications? - The partnership is seen as a long-term portfolio generation strategy, with expectations for new opportunities arising from the collaboration [36][78] Question: What is the status of the CCS business and its marketability? - Management noted that the partnership with Equinor enhances the marketability of the CCS project, with ongoing discussions with potential emitters [80][85] Question: How does the company view M&A opportunities in the current market? - Management is optimistic about M&A opportunities in the Gulf of Mexico, emphasizing the importance of being a trusted counterparty for potential sellers [61][79]