talos energy platforms

Adjusted Net Income (Loss). Suite 200 Talos is one of the largest independent companies in the Gulf of Mexico, with operations across a range of deepwater and shallow water assets in both the United States and Mexico. PDF ACCIDENT INVESTIGATION REPORT - Bureau of Safety and Environmental The Company recorded zero hydrocarbon releases of greater than one barrel offshore in 2020 from over 23 million gross operated MMBoe produced. Comment: Talos Energy's journey from commercial discovery to a 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. Talos Energy Inc. - Talos Energy Announces Third Quarter 2022 Shandell Szabo is currently an independent director of EnVen and previously spent 19 years with Anadarko Petroleum Corporation, most recently as the Vice President of U.S. Exploration. This communication contains projections, including production volumes, capital expenditures, Adjusted EBITDA, Free Cash Flow and cost-savings via synergies. Easily analyze trading costs relative to a range of benchmarks. Assets from price risk management activities, Unproved properties, not subject to amortization, Accumulated depreciation, depletion and amortization, Current portion of asset retirement obligations, Liabilities from price risk management activities, Current portion of operating lease liabilities, Long-term debt, net of discount and deferred financing costs, Preferred stock, $0.01 par value; 30,000,000 shares authorized and no shares issued or outstanding as of December 31, 2021 and 2020, Common stock $0.01 par value; 270,000,000 shares authorized; 81,881,477 and 81,279,989 shares issued and outstanding as of December 31, 2021 and 2020, respectively, Total liabilities and stockholders equity, (In thousands, except per common share amounts), Write-down of oil and natural gas properties, Price risk management activities income (expense). Carbon Capture:Talos plans to advance its previously announced Texas GLO, Freeport LNG and River Bend CCS projects with stratigraphic well tests and preliminary front-end engineering and design studies in advance of EPA Class VI permitting processes. A United States energy company has submitted notices of dispute to the federal government over a decision to take away its control of a shallow water oil field in the Gulf of Mexico. Talos set to spud Gulf of Mexico well using Noble drillship Request for Quote capabilities from multiple destinations. The enhanced cash flow profile will provide us with increased capital allocation optionality, including additional high-impact subsea tie-back opportunities, opportunistic acquisitions, accelerating our low-carbon initiatives and positioning Talos for a potential shareholder return of capital program in the future. On September 23, 2021 at 1010 hours, a incident occurred on Talos Energy Offshore LLC, South Pelto (PL) 23-D Platform, OCS-G01238, for the Heater Treater (NBK-2900). Talos Energy: Ready To Rip And Run - by Dave Messler A replay of the call will be available one hour after the conclusion of the conference until September 29, 2022 and can be accessed by dialing (877) 344-7529 and using access code 3219304. Net Debt divided by the Credit Facility LTM Adjusted EBITDA. Changes in operating assets and liabilities: Other non-current assets and liabilities, net, Net cash provided by operating activities, Exploration, development and other capital expenditures, Cash paid for acquisitions, net of cash acquired, Proceeds from sale of property and equipment, net, Redemption of senior notes and other long-term debt, Net cash provided by (used in) financing activities, Net increase (decrease) in cash and cash equivalents, Capital expenditures included in accounts payable and accrued liabilities, Interest paid, net of amounts capitalized. Total Debt principal of the Company plus the finance lease balance minus cash and cash equivalents. Weighted average common shares outstanding: Adjustments to reconcile net income (loss) to net cash provided by operating activities, Depreciation, depletion, amortization and accretion expense, Write-down of oil and natural gas properties and other well inventory, Amortization of deferred financing costs and original issue discount, Price risk management activities expense (income), Net cash received (paid) on settled derivative instruments, Settlement of asset retirement obligations. Talos Energy Inc. - Talos Energy Announces Fourth Quarter and Full Year In the third quarter. You can sign up for additional alert options at any time. ProductionProduction was 68.7 MBoe/d net for the quarter and was 69% oil and 77% liquids. The adjustments for the derivative fair value (gain) loss and net cash receipts (payments) on settled derivative instruments have the effect of adjusting net income (loss) for changes in the fair value of derivative instruments, which are recognized at the end of each accounting period because we do not designate commodity derivative instruments as accounting hedges. Includes transaction related expenses, restructuring expenses, cost saving initiatives and other miscellaneous income and expenses. Neal Pawar COO, Qontigo. Houston, TX 77002 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. Net Debt divided by the LTM Adjusted EBITDA. Adds ~24 thousand barrels of oil equivalent per day ("MBoe/d") of production (>80% oil, >90% operated). Implied enterprise value representing 2.4x 2022E hedged Adj. Talos Energy Stock Forecast & Price Target - TipRanks [9] A third-party reservoir engineering firm concluded Talos held 49.6% of the discovery, while the remaining 50.4% was found to be in Pemex-operated areas. That accident occurred just a few months after federal regulators placed the . The CCS business we launched in 2021 made extraordinary progress and we have maintained that momentum into 2022 with our recent River Bend CCS announcement. You can sign up for additional alert options at any time. After the registration statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to Talos shareholders and a definitive consent solicitation statement will be mailed to EnVen shareholders. Average net daily production volumes by Core Area (MBoe/d). Reconciliation of PV-10 to Standardized Measure. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Talos Energy acquires EnVen Energy for $1.1B, adding deepwater assets Adjusted EBITDA. Talos - Home Talos Energy: Q3 Earnings Snapshot | MarketScreener You must click the activation link in order to complete your subscription. The well will be completed in the first half of 2020 and then tied back to the Talos-owned and operated Green Canyon 18 fixed platform located about 10 mi (16 km) west of Bulleit. Carbon Capture:Talos rapidly advanced its CCS business in the fourth quarter with several key announcements, including the Company's strategic alliance with TechnipFMC and its agreement with Freeport LNG and Storegga to develop a Point Source CCS solution, which could become the first active carbon sequestration project on the U.S. Gulf Coast. FOURTH QUARTER AND FULL YEAR 2021 RESULTS, Capital Expenditures (including Plug & Abandonment). ~$460 million of 2022E Adj. [2] The company is based in Houston, Texas. Talos Energy has 1 employees across 3 locations and $1.24 b in annual revenue in FY 2021. Talos also maintains operations on the U.S. Gulf of Mexico Shelf. Talos Energy Careers Talos Energy Inc (TALO) Q3 2022 Earnings Call Transcript The table below presents the reconciliation of PV-10 to Standardized Measure: Present value of future income taxes discounted at 10%, View original content to download multimedia:https://www.prnewswire.com/news-releases/talos-energy-announces-fourth-quarter-and-full-year-2021-results-and-provides-2022-guidance-301490250.html, 333 Clay St., Suite 3300 Working at Talos Energy: Employee Reviews | Indeed.com We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Leverage our reliable, order book-level price and trade data for the top exchanges and most currency pairs to backtest or perform other analyses. These measures are widely used by investors and ratings agencies in the valuation, comparison, rating and investment recommendations of companies. 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). Accordingly, there can be no assurance that the projected results are indicative of our future performance after completion of the transaction or that actual results will not differ materially from those presented in the projected information. Consideration for the transaction consists of 43.8 million Talos shares and $212.5 million in cash, plus the assumption of EnVen's net debt upon closing, currently estimated at approximately $50.0 million at year-end 2022. The first was an overpressure incident on 9/23/2021 at Our carbon capture and sequestration business aims to lead . 2022 Planned Activity:Talos will execute one asset management and up to six drilling and completions projects utilizing both an ultra-deepwater floater rig and a platform-based rig. Talos . (713) 351-4100 fax, 3861 Ambassador Caffery Parkway, To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The worker was injured while removing out-of-service fire suppression equipment and later died as a result of the injuries. Talos's Energy Resource Technology reported a fatality on a production platform in October 2013, according to BSEE. Talos Energy has bought private U.S. Gulf of Mexico deepwater operator EnVen Energy for $1.1 billion. Adjusted Earnings per Share. It was drilled in a down-dip location approximately 1.3 miles (2.1 kilometers) to the north of the Zama-1 discovery well to confirm the geological model and define the oil-water contact. Over the course of his career, Neal has worked for a diverse set of leading firms . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Talos Energy Company Profile - Craft 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. Talos plans two fixed production facilities capable of handling 150,000 b/d combined, plus associated gas. Common stock $0.01 par value; 270,000,000 shares authorized; Adjustments to reconcile net income (loss) to net cash, Non-cash write-down of other well equipment, Add: Net cash payments on settled derivative, Adjusted EBITDA margin and Adjusted EBITDA, Adjusted EBITDA excl hedges divided by Revenue -, Reconciliation of Adjusted EBITDA to Free Cash Flow (before changes in, Net cash payments on settled derivative instruments, https://www.prnewswire.com/news-releases/talos-energy-announces-fourth-quarter-and-full-year-2021-results-and-provides-2022-guidance-301490250.html, Production of 68.7 thousand barrels of oil equivalent per day ("MBoe/d") (69% oil, 77% liquids), Net Income of $81.0 million, or $0.98 Net Income per diluted share, and Adjusted Net Income, Capital Expenditures of $64.2 million, inclusive of plugging and abandonment, Production of 64.4 MBoe/d (69% oil, 77% liquids), Net Loss of $183.0 million, or $2.24 Net Loss per diluted share, and Adjusted Net Income, Capital Expenditures of $338.8 million, inclusive of plugging and abandonment, equating to 56% of Adjusted EBITDA ("Reinvestment Rate"), Leverage ratio of 1.7x and liquidity of $472.6 million at year-end, Year-end 2021 SEC Proved reserves of 162 million barrels of oil equivalent ("MMBoe") (67% oil, 76% liquids) with a Proved PV-10, Production of 60.0 - 64.0 MBoe/d, inclusive of 3.0 4.0 MBoe/d of deferred production from forecasted planned downtime for the year and unplanned third-party downtime realized during the first quarter, Capital Expenditures of $450 - $480 million, equating to an approximately 55% upstream Reinvestment Rate at current commodity prices or approximately 60% all-in including $30 million in carbon capture and sequestration ("CCS") investments, Reduce leverage to approximately 1.0x by year-end driven by strong free cash flow generation and focus on debt paydown. Earlier this year, ExxonMobil announced plans for a CCS hub that could capture all of the CO emissions from refineries and industrial facilities along the Houston Ship Channel at an estimated cost of $100bn or more. HOUSTON, Feb. 24, 2022 /PRNewswire/ --Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced its operational and financial results for the fourth quarter and full year 2021. The transaction has been unanimously approved by each company's Board of Directors. Talos Energy Announces Fourth Quarter and Full Year 2021 Results and Provides 2022 Guidance, Preferred stock, $0.01 par value; 30,000,000 shares authorized and. The company in its earnings statement said that EnVen's assets . Oil worker killed on Talos Energy platform in U.S. Gulf of Mexico 2022 Capital ProjectsThe Company's 2022 capital program is focused on full-lifecycle exploration and production projects as well as evolving CCS opportunities. Net Debt to LTM Adjusted EBITDA. Talos Energy Announces Strategic Acquisition of EnVen Energy Lafayette, LA 70503. Talos currently operates in two jurisdictions, the U.S. Gulf of Mexico and shallow water offshore Mexico. Professional trading interface with a feature-set geared towards an experienced trader, including click-to-trade capabilities. After submitting your request, you will receive an activation email to the requested email address. In 2021, Talos established a 30% greenhouse gas emissions ("GHG") intensity reduction target by 2025 from the 2018 baseline and subsequently added a 40% reduction stretch target. . The company has operations in the United States, Gulf of Mexico, and offshore Mexico. Talos Energy makes major acquisition in the deep-water US Gulf Listeners can access the conference call live over the Internet through a webcast link on the Company's website at: https://www.talosenergy.com/investors. Reconciliation of Total Debt to Net Debt and Net Debt to LTM Adjusted EBITDA and Credit Facility LTM Adjusted EBITDAWe believe the presentation of Net Debt, LTM Adjusted EBITDA, Credit Facility LTM Adjusted EBITDA, Net Debt to LTM Adjusted EBITDA and Net Debt to Credit Facility LTM Adjusted EBITDA is important to provide management and investors with additional important information to evaluate our business. Talos Energy Announces Third Quarter 2022 Operational and Financial Between 9/23/2021 and 9/30/2021, two separate incidents on the fire tube of NBK-2900 Heater Treater occurred. Additionally, approximately 50% of the 2022 drilling and completion program are targeted to generate production beginning in 2023 and beyond. Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of . Talos Energy announces well takeover date in end-of-year guidance Net Debt to Credit Facility LTM Adjusted EBITDA, as determined in accordance with the Company's credit agreement, was 1.7x(1). Tweet. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA"EBITDA" and "Adjusted EBITDA" are to provide management and investors with (i) additional information to evaluate, with certain adjustments, items required or permitted in calculating covenant compliance under our debt agreements, (ii) important supplemental indicators of the operational performance of our business, (iii) additional criteria for evaluating our performance relative to our peers and (iv) supplemental information to investors about certain material non-cash and/or other items that may not continue at the same level in the future. Talos Energy Stock (NYSE:TALO), Quotes and News Summary Adjusted EBITDA margin and Adjusted EBITDA excl hedges margin: Adjusted EBITDA divided by Revenue - Operations (%), Adjusted EBITDA excl hedges divided by Revenue - Operations (%). Reservoir Engineer (Former Employee) - Houston, TX - June 19, 2018. HOUSTON (AP) _ Talos Energy, Inc. (TALO) on Wednesday reported profit of $250.5 million in its third quarter. Finally, Talos maintained solid total recordable incident rates ("TRIR") and lost time incident rates ("LTIR") in 2020 compared to 2018. This results in reflecting commodity derivative gains and losses within Adjusted EBITDA on an unrealized basis during the period the derivatives settled. Company. The Board of Directors will have no private equity representatives post-closing. Integrations with the industrys leading settlement networks and custody providers enable you to seamlessly move funds within the platform. Net income (loss) plus accretion expense, transaction related costs, derivative fair value (gain) loss, net cash receipts (payments) on settled derivative instruments and non-cash equity-based compensation expense. The 2022 appraisal well will delineate the discovered resource while also evaluating additional prospective Miocene sands. }); Institutional-Grade Reliability and Performance. Talos - Platform BTC-EUR, ETH-SGD). Talos - Company EBITDA divided by Revenue, as a percentage. [5], In June 2020, Talos Energy announced the bolt-on acquisition of assets from affiliates of Castex Energy 2005. 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. Production was 64.4 MBoe/d net for the full year and was also 69% oil and 77% liquids. [6], In September 2021, following Hurricane Ida, aerial images by the National Oceanic and Atmospheric Administration revealed a miles-long oil slick spreading in coastal waters approximately a mile off Port Fourchon. Subject to final business development activities and the timing of rig delivery in the second half of 2022, two to three wells drilled from the deepwater floater rig will be operated by Talos and located in the Mississippi Canyon Miocene fairway, with working interests of 40-60%. PORT FOURCHON (WVUE) - Talos Energy Inc., the company that contracted the Seacor Power to perform work at one of its oil platforms, issued a statement Sunday on the lift boat disaster. The Company also announced its year-end 2021 reserves figures as well as 2022 operational and financial guidance. Talos Energy Company Profile: Stock Performance & Earnings - PitchBook Data The asset management project will lead to production in 2022. For more information, visit www.talosenergy.com. Talos currently operates in two jurisdictions, the U.S. Gulf of Mexico and shallow water offshore Mexico. Adjusted Net Income (Loss) divided by the number of common shares. Talos, but not Pemex, has experience with production platforms in the water depth of Zama (540 feet). The PV-10 of proved reserves was approximately $3.9 billion, representing an increase of approximately $1.9 billion from year end 2020. Its operations in the U.S. Gulf of Mexico are primarily focused in deepwater, with key operational areas in the Green Canyon and Mississippi Canyon areas. The new company trading on the New York Stock Exchange under the new ticker symbol "TALO". This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Talos adds GoM scale with $1.1-billion acquisition of EnVen Energy Reconciliation of Net Debt to LTM Adjusted EBITDA: Net Debt / Credit Facility LTM Adjusted EBITDA. She has technical expertise in the deepwater Gulf of Mexico and other key basins. Attractive Asset Base Aligned with Talos Strategy: EnVen currently produces approximately 24 MBoe/d in the U.S. Gulf of Mexico that is more than 80% oil-weighted, more than 90% operated and more than 95% from deepwater regions. After submitting your request, you will receive an activation email to the requested email address. Subsequently, in 2021 the Company achieved record low LTIR and TRIR. Certain financial information included in our financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP. We define these as the following: Capital Expenditures and Plugging & Abandonment. The Company anticipates that 2022 capital expenditure levels for CCS are appropriate to mature existing projects and aggressively pursue additional opportunities, advancing towards final investment decision on a project-by-project basis in the future. Solid Company that is Growing. This information is available in the PitchBook Platform. Ms. Fielder will serve as the lead executive for Talos's rapidly growing CCS business as well as oversee all ESG and sustainability initiatives and reporting. 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. Talos Energy is a leader in offshore energy exploration and production. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing cash flows and long-term value through its. The company was founded in 2012 by Timothy Duncan with a $600-million equity raise from Apollo Global Management and Riverstone Holdings. The Adjusted EBITDA information included in this communication provides additional relevant information to our investors and creditors. 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. 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 Inc Q3 2022 Earnings Call dated Nov. 03, 2022. 24/7 support provided by experienced staff with deep knowledge of our platform and institutional trading workflows. Talos Energy: Owner of Seacor Power chose to sail into storm - KATC Should one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. hbspt.forms.create({ [4], In December 2018 Talos Energy started Zama discovery appraisal program, which will consist of three reservoir penetrations. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. 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 Energy Inc. Company Profile | Houston, TX | Competitors Sergio Maiworm +1.713.328.3008 investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. On December 31, 2021, Talos had $1,071.3 million in total debt, inclusive of $40.2 million related to the HP-1 finance lease. [10], Last edited on 15 September 2021, at 09:32, "Tim Duncan: Chief Executive Officer, President, Talos Energy", "Investors Find Major Oil Deposit in Gulf of Mexico", "Deepwater Wildcatter: Meet Talos Energy, The New Gulf Of Mexico Pure Play", "Talos Energy provides update on Zama appraisal, offshore Mexico", "Talos Energy Announces Borrowing Base Redetermination Results And Bolt-On Acquisition", "Clean-up crews arrive at a kilometres-long oil spill left in Hurricane Ida's wake in the Gulf of Mexico", "Satellite Images Find 'Substantial' Oil Spill in Gulf After Ida", "Exclusive: Mexico's Pemex seeks control of U.S. oil firm's billion-barrel find", "BNamericas Talos disputes Pemex's Zama claim", https://en.wikipedia.org/w/index.php?title=Talos_Energy&oldid=1044456613, This page was last edited on 15 September 2021, at 09:32. Advisor. Net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion and amortization and accretion expense. Our estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. Talos' partners are EnVen Energy Ventures and Otto Energy holding 33.3 per cent and 16.7 per cent working interests, respectively. The extension is until early June 2019. At Talos Energy Inc., we promise to treat your data with respect and will not share your information with any third party.

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