Talos Energy Stock Price, News & Analysis

Talos Energy (NYSE: TALO) plans to release its first quarter 2023 financial results on May 8, 2023, after the U.S. market closes. The company will also host a live conference call on May 9, 2023, at 10:00 AM ET to discuss these results. This upcoming earnings announcement is pivotal as investors look for insights into Talos' financial health and operational performance for the quarter ending March 31, 2023. The details of the conference call can be accessed via the company's website, and a replay will be available until May 16, 2023. Talos operates primarily in the U.S. and offshore Mexico, focusing on oil, gas exploration, and carbon capture initiatives.

On March 23, 2023, Talos Energy (NYSE: TALO) and its partners, including Pemex, submitted the Zama Unit Development Plan (UDP) to Mexico's National Commission of Hydrocarbons for approval. This plan involves two offshore fixed platforms and 46 dry-tree wells, aiming for a production capacity of up to 180,000 barrels of oil equivalent per day. The Integrated Project Team has been formed to oversee project execution, leveraging expertise from all partners. The UDP approval is anticipated within six months, paving the way for a Final Investment Decision. Zama is recognized as a strategic project, producing 94% high-quality oil, contributing significantly to Mexico's oil output.

On March 20, 2023, Talos Energy announced a $100 million share repurchase program approved by its Board of Directors. This marks the company's first authorization for repurchases since its inception. Talos aims to buy back shares opportunistically to address what it perceives as a significant discount to its fundamental value. The program's execution will depend on market conditions and other factors, with no obligation to repurchase a specific amount. CEO Timothy S. Duncan expressed confidence in the company's future and the potential benefits for shareholders.

Bayou Bend CCS LLC announced a significant expansion of its carbon capture and sequestration project with the acquisition of nearly 100,000 acres in Chambers and Jefferson Counties, Texas. This expansion brings the total project area to approximately 140,000 acres, with a gross storage capacity exceeding one billion metric tons. Bayou Bend aims to provide carbon transportation and storage solutions for industrial emitters in the Houston Ship Channel region. Chevron (NYSE: CVX), Talos Energy (NYSE: TALO), and Carbonvert are key partners in this joint venture, with Chevron now serving as the operator.

Bayou Bend CCS LLC has announced the expansion of its carbon capture and sequestration project along the Texas Gulf Coast, acquiring nearly 100,000 acres in Chambers and Jefferson Counties. This increase, combined with 40,000 acres previously acquired offshore, brings the total to approximately 140,000 acres with a storage capacity exceeding one billion metric tons. The project, a joint venture between Chevron (50%), Talos Energy (25%), and Carbonvert (25%), aims to serve industrial emitters in the Houston Ship Channel and Beaumont/Port Arthur area. Chevron is now the operator of the project as of March 1, 2023.

Talos Energy Inc. (TALO) reported its operational and financial results for Q4 and FY 2022, highlighting a production of 56.6 MBoe/d, net income of $2.8 million, and an adjusted net income of $16.6 million for the fourth quarter. The acquisition of EnVen Energy for $1.1 billion was finalized, enhancing Talos’s production capabilities with a projected output of 72-76 MBoe/d for 2023. Talos announced a significant CO2 sequestration project in Texas, increasing its storage capacity to over 1 billion tons. For 2023, capital investments are planned between $650-$675 million, with anticipated production growth of 20-25% through 2026.

Talos Energy (NYSE: TALO) announced the completion of its acquisition of EnVen Energy Corporation on February 13, 2023. This acquisition is expected to enhance Talos's operational scale and increase free cash flow while integrating high-margin oil assets. Following the acquisition, Talos has approximately 126.37 million shares outstanding and a market capitalization of around $2.5 billion as of February 10, 2023. The company will provide further financial and operational guidance on February 28, 2023, during its fourth quarter and full year 2022 earnings call. The acquisition aims to strengthen Talos’s position in the Gulf of Mexico and support its Carbon Capture and Sequestration initiatives.

On February 8, 2023, Talos Energy announced that its stockholders approved all proposals related to the acquisition of EnVen Energy Corporation. The vote took place during a special meeting and results will be disclosed in a subsequent Form 8-K filing with the Securities and Exchange Commission. The acquisition is set to close on February 13, 2023, pending customary conditions. Talos, known for its independent exploration and production operations in the Gulf of Mexico, aims to enhance its asset portfolio through this acquisition, which is considered a strategic move to maximize long-term value.

Talos Energy Inc. (NYSE: TALO) plans to release its fourth quarter 2022 results on February 28, 2023, after U.S. market close. A conference call will follow on March 1, 2023, at 10:00 AM ET, available via webcast on their website. Investors can access the call by dialing designated numbers. Talos, an independent exploration and production company, focuses on maximizing long-term value through operations in the U.S. and Mexico, with a commitment to environmental stewardship and carbon capture initiatives along the Gulf Coast.