Talos Energy, Inc. - TALO STOCK NEWS

Talos Energy Inc. (NYSE: TALO) announced the pricing of a public offering of 5,000,000 shares of common stock by Selling Stockholders, including affiliates of Apollo Global Management and Riverstone Holdings LLC. Talos will not be selling any shares or receiving proceeds from the offering. The expected closing date is June 28, 2021, subject to customary conditions. BMO Capital Markets is acting as the sole underwriter. This offering does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction where such an offer would be unlawful.

Talos Energy (NYSE: TALO) announced a secondary public offering of 5,000,000 shares of its common stock by affiliates of Apollo Global Management and Riverstone Holdings LLC. Talos will not sell any shares in the offering and will not receive any proceeds. BMO Capital Markets Corp. is the sole underwriter. The offering is registered with the U.S. SEC and is not an offer to sell or solicitation of an offer to buy any securities. The shares may be sold at market prices or negotiated prices.

Talos Energy (NYSE: TALO) announced on June 22, 2021, the successful amendment of its reserves-based lending facility, extending the maturity to November 2024. The company's borrowing base is set at $950 million, with current commitments of $655 million. This extends their near-term debt maturity profile significantly, enhancing liquidity to approximately $300 million as of June 30, 2021. Talos expects to be free cash flow positive throughout 2021, supported by operational performance and favorable commodity prices.

Talos Energy Inc. (NYSE: TALO) has established a joint venture with Storegga Geotechnologies to explore carbon capture and storage (CCS) projects in the U.S. Gulf Coast and Gulf of Mexico. The partnership will focus on tapping into the region's emissions sources and leveraging Talos's operational strengths alongside Storegga's CCS expertise. With the joint venture requiring no upfront capital, costs will be shared equally initially. The Gulf Coast region has significant potential, housing over 100 facilities emitting over 1 million tons of CO2 annually, making it ideal for CCS solutions.

Talos Energy Inc. (NYSE: TALO) announced successful drilling of its Tornado Attic sidetrack well on June 3, 2021, achieving results that align with pre-drill expectations. The well, located 4,500 feet from the Tornado water flood injection site, encountered approximately 85 gross (63 net) feet of pay. Talos anticipates production starting by Q3 2021, generating around 8-10 MBoe/d gross (80% oil). This development builds on the company's previous successful waterflood project and highlights its operational efficiency and project diversity.

Talos Energy (NYSE: TALO) provided an interim update on the unitization process for its Zama discovery in Mexico, clarifying points raised by Pemex in their Annual Report. Talos and its partners are finalizing a Unitization and Unit Operating Agreement (UUOA) which will define participation interest splits and operatorship. A recent third-party evaluation indicates Talos holds a 49.6% interest in Zama, while Pemex holds 50.4%. Talos President Timothy S. Duncan expressed confidence in reaching an equitable agreement and highlighted the importance of the re-determination process for future interest adjustments.

On May 5, 2021, Talos Energy (NYSE: TALO) reported strong operational and financial results for Q1 2021, achieving record production of 66.1 MBoe/d despite challenges. The company made a significant discovery at Puma West and completed a successful drilling program at Green Canyon 18. However, net losses totaled $121.5 million, impacted by hedging losses. Adjusted EBITDA was reported at $136.6 million. Talos also highlighted $31.3 million in free cash flow generation, indicating operational strength. Upcoming projects include the Pompano platform campaign and the Tornado Attic well.

Talos Energy Inc. (NYSE: TALO) has nominated Paula R. Glover for election to its Board of Directors, set to be confirmed during the Annual Meeting on May 11, 2021. Glover, with extensive experience in the energy sector and current President of the Alliance to Save Energy, will replace James M. Trimble, who is retiring. Talos Chairman Neal P. Goldman expressed confidence in Glover's expertise, particularly regarding the company's ESG initiatives. Glover stated her eagerness to contribute to Talos's growth and community engagement, highlighting the company's solid financial position and asset base.