Talos Energy Stock Price, News & Analysis

Talos Energy Inc. (NYSE: TALO) will release its first quarter 2021 results on May 5, 2021, after market close. A conference call will follow on May 6, 2021, at 11:00 AM ET, accessible via the company's website or by phone. This event marks the company's ongoing commitment to transparency and communication with shareholders. Talos continues to focus on maximizing cash flows and long-term value in its operations across the U.S. Gulf of Mexico and offshore Mexico.

Talos Energy (NYSE:TALO) announced successful drilling results from the Puma West exploration project in the U.S. Gulf of Mexico on April 13, 2021. The well reached a depth of 23,530 feet, discovering oil pay in high-quality sub-salt Miocene sands, with fluid properties similar to other productive reservoirs in the region. Talos, along with bp and Chevron, plans an appraisal program to define the resource better. Talos holds an interest in over 17,000 acres in the area, with bp operating the project and holding a 50% working interest.

Talos Energy (NYSE: TALO) announced on March 26, 2021, that the unitization process for the Zama field is advancing, as mandated by Mexican regulations. The Ministry of Energy (SENER) must now propose terms for a Unitization and Unit Operating Agreement (UUOA). Notably, a UUOA was not proposed by Talos and its consortium partners by the March 25 deadline. CEO Timothy S. Duncan expressed optimism regarding cooperation with SENER and Pemex as they seek a resolution. The Zama field, discovered in 2017, extends across multiple blocks in the Bay of Campeche, Mexico.

Talos Energy reported its financial and operational results for Q4 and full-year 2020 on March 10, 2021.

The company produced 59.4 MBoe/d and recorded a net loss of $430.7 million, including $267.9 million in impairments. Adjusted EBITDA stood at $106.4 million, with a margin exceeding 60%.

Proved reserves increased to 163 MMBoe, with a PV-10 of $2 billion. Talos outlined 2021 guidance, projecting production between 63.0 - 67.0 MBoe/d, lower capital expenditures ranging from $340 - $370 million, and focused on free cash flow generation.

Talos Energy (NYSE: TALO) will release its fourth quarter and full year 2020 financial results on March 10, 2021, after market close. A conference call to discuss the results will follow on March 11, 2021, at 10:00 AM ET. Investors can access the call via a webcast on the company's website or by phone. A replay will be available until March 18, 2021. Talos Energy focuses on maximizing cash flows and long-term value through its operations in the Gulf of Mexico and offshore Mexico, leveraging extensive expertise in exploration and production.

Talos Energy (NYSE: TALO) addressed recent Secretarial and Executive Orders impacting oil and natural gas on federal lands, assuring stakeholders of no material disruption to operations. The company confirmed that existing production and leasing activities remain unaffected, enabling continued drilling and exploration over its 1.5 million gross acres in the Gulf of Mexico. CEO Timothy S. Duncan emphasized the crucial role of domestic energy resources and the company's commitment to sustainable operations, highlighting a significant contribution of over $5 billion to government revenues in 2019, alongside substantial job support across the U.S.

Talos Energy has successfully completed capital market activities, raising over $670 million since mid-December 2020 to refinance near-term bond maturities and enhance liquidity. This refinancing extends bond maturity to 2026 and provides over $550 million in liquidity. The company has removed significant financial risks and is positioned to leverage future M&A opportunities as it enters 2021. CEO Timothy S. Duncan stated that the enhanced liquidity supports business development and protects against commodity price volatility.

Talos Energy (NYSE: TALO) has announced the pricing of an upsized offering of $150 million in additional 12.00% Second-Priority Senior Secured Notes due 2026, priced at 97% of par. The notes, which will be issued by Talos Production Inc., are part of the same series as the Existing Notes issued on January 4, 2021. Proceeds will be used to repay outstanding borrowings under a reserves-based lending facility. The offering is expected to close around January 14, 2021, subject to customary conditions.