ESG Updates:Talos published its second annual environmental, social and governance ("ESG") report in December 2021. Request a free trial. It was tough times and the first round of layoffs since the beginning of commodity prices crashing in late 2014. Robert Tichio, the appointed Riverstone Holdings representative currently on Talos's Board of Directors, will resign from the Board simultaneous with closing of the transaction. Talos produces 52,600 boe/d in Q3, down 4% on year Houston Gulf of Mexico operator Talos Energy drilled two wells on Mexico's offshore Block 31 during the third quarter of 2019, which revealed a reservoir that appears thicker and bigger than expected, the company's top executive said Thursday. A subsea development is planned to tie the Bulleit well into the GC18A platform. Talos - Company Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus/consent solicitation and other relevant materials to be filed with the SEC when they become available. Designed to exceed the performance, reliability and security requirements of large institutions, the Talos platform is available via a single API or advanced, web-based GUI and can be tailored to meet your specific workflow requirements. The Talos platform was built exclusively to support the full digital asset trade lifecycle from price discovery to execution through settlement across spot, futures, and FX markets. Talos Energy Inc. (TALO) Q3 2022 Earnings Call Transcript . At Talos Energy Inc., we promise to treat your data with respect and will not share your information with any third party. Talos Energy files notice with Mexico over disputed oil field Houston-based . EBITDA (1.7x unhedged), a discount to Talos's current metrics. The field is in around 550 ft (168 m) of water, and the production platforms would therefore be the deepest installed offshore Mexico, Talos claimed. The Boris 3 well was brought online in the last week of April with a production rate of 8.5 MBoe/d gross (82% oil), or approximately 7.9 MBoe/d net to Talos after royalties, which, Talos says, significantly surpassed expectations. For purposes of covenant compliance, Credit Facility LTM Adjusted EBITDA, with certain adjustments, is calculated as the sum of quarterly Adjusted EBITDA for the 12-month period ended on that quarter, inclusive of revenue less direct operating expenditures of the Acquired Assets for periods prior to closing of the Transaction. Join Talos. Talos Energy in advance talks to acquire EnVen for $1bn After submitting your request, you will receive an activation email to the requested email address. The normalized production range for 2022 is 63.0 68.0 MBoe/d, prior to adjustments of 2.0 - 3.0 MBoe/d and 0.8 1.0 MBoe/d for the year for dry-dock and the EIPS downtime, respectively. In July 2017, Talos Energy, Premier Oil, and Sierra Oil & Gas announced that exploratory drilling in the Zama-1 field, located in the shallow waters of the Gulf of Mexico, had uncovered a formation with between 1.4 billion and two billion barrels of light crude oil. Over the coming years, we expect that the impact of a successful infrastructure-led, subsea drilling campaign on top of our strong base business will generate in excess of $1.0 billion in free cash flow through 2025, providing the Company with significant flexibility for the future as it continues to grow long-term shareholder value. Talos provides that critical market structure support and enables institutions to reliably interact within this exciting new asset class. A replay of the call will be available one hour after the conclusion of the conference until March 4, 2022 and can be accessed by dialing (877) 344-7529 and using access code 6660290. Talos Energy is a leader in offshore energy exploration and production. Suite 200 Offshore staff. At Talos Energy Inc., we promise to treat your data with respect and will not share your information with any third party. Comment: Talos Energy's journey from commercial discovery to a Talos reports strong quarterly returns as major drilling programmes get >13% accretive to Talos shareholders on 2023E Free Cash Flow per Share. Actual interest expense per the income statement. Pro forma ownership of the combined entity is 66% Talos, 34% EnVen. The Board of Directors will have no private equity representatives post-closing. These risks include, but are not limited to, our ability to realize the results contemplated by our 2022 guidance, the success of our CCS business, commodity price volatility,including the sharp decline in oil prices beginning in March 2020, the impact of the coronavirus disease 2019 ("COVID-19") and governmental measures related thereto on global demand for oil and natural gas and on the operations of our business, the ability or willingness of the Organization of Petroleum Exporting Countries ("OPEC") and non-OPEC countries, such as Saudi Arabia and Russia, to set and maintain oil production levels and the impact of any such actions, lack of transportation and storage capacity as a result of oversupply, government regulations and actions or other factors,inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, the possibility that the anticipated benefits of recent acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of such acquisitions, and other factors that may affect our future results and business, generally, including those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021, to be filed with the SEC subsequent to the issuance of this communication. After submitting your request, you will receive an activation email to the requested email address. Net Debt was $1,001.4 million (1). Mexican state-owned oil company PEMEX claims rights over the Zama discovery, as the company has drilling rights in an adjacent oil field. Talos is also looking to take over the debt of EnVen, which is backed by American private investment firm Bain Capital. Net Debt to LTM Adjusted EBITDA. Puma. $26.00. Riverstone Holdings (~10% pro forma ownership) and EnVen's top two equity holders (~20% pro forma combined) will enter lock-up agreements at closing. Talos Energy files notice with Mexico over disputed oil field Free Cash Flow has limitations as an analytical tool and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP or as alternatives to net income (loss), operating income (loss) or any other measure of financial performance presented in accordance with GAAP. Talos Energy Inc. has a one year low of $8.57 and a . In January 2022, Apollo subsequently reduced its ownership stake to approximately 3.6%, down from approximately 35% at the time of Talos's public listing in May 2018. As Chief Operating Officer, Neal Pawar is responsible for Qontigo's portfolio of index and analytics products, technology & engineering, operations and project management areas. hbspt.forms.create({ In connection with the proposed Merger, Talos will file with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4, which will include a proxy statement/prospectus of Talos and a consent solicitation statement of EnVen. 333 Clay St., Suite 3300 Talos Energy Third Quarter 2022 Earnings: Beats Expectations Gulf of Mexico operator Talos Energy is reportedly in "advanced" talks to buy private equity-backed rival Enven Energy in a move that could dramatically increase Talos' E&P asset base as it attempts to diversify its business strategy.. Reuters reported over the weekend, citing unnamed sources, that Talos and Enven are discussing a potential deal for the private player, priced at around . It occurred on a platform being operated by Talos subsidiary Energy Resources Technology GOM in an area known as West Cameron 215A, located about 64 miles south of Lake Charles, Louisiana. Lafayette, LA 70503. These non-GAAP financial measures are "Adjusted Net Income (Loss)," "Adjusted Earnings per Share," "EBITDA," "Adjusted EBITDA," "Adjusted EBITDA excluding hedges," "Adjusted EBITDA Margin," "Adjusted EBITDA Margin excluding hedges," "Free Cash Flow," "Net Debt," "LTM Adjusted EBITDA," "Credit Facility LTM Adjusted EBITDA,", "Net Debt to Credit Facility LTM Adjusted EBITDA" and "PV-10." For more information, visit www.talosenergy.com. Reservoir Engineer (Former Employee) - Houston, TX - June 19, 2018. Talos plans two fixed production facilities capable of handling 150,000 b/d combined, plus associated gas. Additionally, the Company will make targeted CCS investments. We are proud to operate with a constant focus on environmental responsibility, safety, community engagement, good governance and strong ethics. ", RECENT DEVELOPMENTS AND OPERATIONS UPDATE. Talos, EnVen and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Talos shareholders in connection with the proposed transaction. Talos will introduce a proposal to eliminate its classified election structure such that all directors are elected annually. LONDON - Talos Energy will likely submit the development plan for the offshore Zama field to Mexico's government this summer, according to partner Premier Oil.. Last June, the block 7 joint venture agreed on the main elements of a full-field development to maximize overall recovery from the Zama field, where reserves are thought to be in the range 670-970 MMboe. Talos, but not Pemex, has experience with production platforms in the water depth of Zama (540 feet). Apollo's Board members resigned as a result of Apollo's reduced ownership after recent share sales. Sep. 20, 2021 3 Four years after making the largest commercial oil discovery in Mexico in a generation in 2017, the commercial expectations of the consortium led by Houston-based Talos Energy. (713) 351-4100 fax, 3861 Ambassador Caffery Parkway, Talos Energy has 1 employees across 3 locations and $1.24 b in annual revenue in FY 2021. ~$460 million of 2022E Adj. A statement by. The extension is until early June 2019. Finally, Talos maintained solid total recordable incident rates ("TRIR") and lost time incident rates ("LTIR") in 2020 compared to 2018. We are excited for the numerous benefits that this transaction provides and look forward to closing around year end.". Talos set to spud Gulf of Mexico well using Noble drillship It is also defined as Adjusted EBITDA divided by the total production volume, expressed in Boe, in the period, and described as dollar per Boe. Alternatively, the conference call can be accessed by dialing (888) 348-8927(U.S. toll free), (855) 669-9657 (Canada toll-free) or (412) 902-4263 (international). Eugene Island Pipeline Downtime:Talos has experienced approximately 30 days of unplanned third-party downtime to date in the first quarter of 2022 resulting from maintenance of the Eugene Island Pipeline System ("EIPS"), which carries Talos's production from the HP-1 and Green Canyon 18 facilities. For the third quarter, Talos reported net income of $250.5 million, compared to a $16.7 million loss in the third quarter of 2021. A. At least $30 million in expected annual run-rate synergies to be achieved in 2023. The Company's upstream investments will target a range of short-cycle, infrastructure-led asset management and development projects as well as numerous higher-impact exploitation and exploration targets with the potential to add material reserves and production in the future. Talos said on Monday that it had executed the agreement to buy selected assets from Castex Energy 2005 on 19 June 2020. He was previously the Chief Operating Officer of Duke Energy Corporation. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Houston -based company said it had profit of $2.99 per share. KeyBanc Capital Markets Inc. also served as a financial advisor to Talos. Our estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. This communication may contain "forward-looking statements" within the meaning of Section27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section21E of the Securities Exchange Act of 1934, as amended. Talos Energy and EnLink Midstream Announce Complete Carbon Capture (713) 351-4100 fax, 3861 Ambassador Caffery Parkway, Net Debt was $1,001.4 million(1). EBITDA (~$630 million unhedged) and ~$170 million of 2022E Free Cash Flow. Cisco Talos Intelligence Group is one of the largest commercial threat intelligence teams in the world. Capital Expenditures of $450 - $480 million, inclusive of a wide spectrum of drilling and completions projects, all plugging and abandonment expenditures and approximately $30 million in CCS investments.
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