Talos Energy - TALO STOCK NEWS

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.

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.