Talos Energy - TALO STOCK NEWS

Talos Energy (NYSE: TALO) will hold its inaugural analyst and investor day on May 24, 2022, at 2:00 PM Eastern Time. The management team will discuss strategic milestones, portfolio assets, and future business outlook. Institutional investors and analysts interested in attending should contact Rose & Company. A live webcast along with presentation materials will be available on the Company’s website, with a replay option afterwards. Talos operates in the U.S. and offshore Mexico, focusing on oil and gas exploration and carbon capture initiatives.

On March 28, 2022, Talos Energy (NYSE: TALO) announced the final Unitization Resolution from Mexico's Ministry of Energy regarding the Zama field's development, appointing Pemex as the operator. Talos retains a 17.35% interest and plans to submit a Unit Development Plan within 6-12 months, leading to a Final Investment Decision (FID) anticipated in 2023. The Zama field holds recoverable resources estimated at 735-950 million barrels, with potential production exceeding 160,000 barrels daily. Talos has invested $104 million since 2015, maintaining its 2022 capital expenditure guidance.

Core Laboratories N.V. (CLB) and Talos Energy Inc. (TALO) have formed a strategic alliance focused on carbon capture and sequestration (CCS) technologies. This collaboration aims to leverage Core Lab's reservoir optimization expertise and Talos's subsurface characterization skills to evaluate CCS sites effectively. The companies will utilize advanced reservoir characterization techniques, promoting transparency in CO₂ monitoring. Talos is also a member of Core Lab's CCS consortium to address challenges in subsurface CO₂ storage. Their combined efforts are positioned to enhance CCS solutions and contribute to climate initiatives.

Talos Energy announced the execution of lease documentation with the Texas General Land Office for the Bayou Bend carbon capture and sequestration (CCS) site, covering over 40,000 acres offshore Jefferson County, Texas. This site has a CO₂ sequestration capacity of 225-275 million metric tons. Additionally, Talos established a strategic alliance with Core Laboratories for technical evaluation and assurance services related to CCS. Talos aims to scale its CCS platform under its subsidiary, Talos Low Carbon Solutions, enhancing its position in the growing carbon management sector.

Talos Energy (NYSE: TALO) has partnered with Howard Energy Partners to explore carbon capture and sequestration (CCS) at the Port of Corpus Christi. The agreement covers approximately 13,000 acres, aiming to sequester 1.0 to 1.5 million metric tons of CO₂ annually. The project could scale to capture 6 to 10 million metric tons based on market demand. This initiative aims to provide a comprehensive CCS solution to over 200 Port customers, enhancing environmental stewardship and reducing carbon emissions in the region.

Talos Energy Inc. (TALO) reported strong fourth-quarter results, achieving production of 68.7 MBoe/d and net income of $81 million, or $0.98 per diluted share. 2021 production averaged 64.4 MBoe/d, resulting in a net loss of $183 million. The company forecasts 2022 production between 60.0 - 64.0 MBoe/d and plans capital expenditures of $450 - $480 million, aiming for a leverage ratio reduction to approximately 1.0x by year-end. Talos also advanced its carbon capture initiatives, including a partnership for a major project in the Gulf Coast. Liquidity was $472.6 million at year-end.

EnLink Midstream reported strong financial results for Q4 2021, with net income of $88.6 million and adjusted EBITDA of $286.4 million, reflecting robust producer activity. The company achieved free cash flow after distributions of $67.4 million despite a 20% increase in distribution. EnLink anticipates continued growth in 2022, projecting adjusted EBITDA between $1.11 billion and $1.19 billion, and announced a partnership with Talos Energy for carbon capture solutions in Louisiana. The company reduced total debt by $235 million in 2021, marking financial stability.

Talos Energy Inc. (NYSE: TALO) announced an agreement to lease approximately 26,000 acres along the Mississippi River for carbon capture and sequestration (CCS) projects. This marks the establishment of the River Bend CCS project, the first major CCS initiative in the Baton Rouge/New Orleans area. The project will have a storage capacity exceeding 500 million metric tons and is supported by a memorandum of understanding with EnLink Midstream for CO₂ transportation. Talos has also secured a right of first refusal on an additional 63,000 acres for future expansion.

Talos Energy and EnLink Midstream have signed a memorandum of understanding to jointly develop a CO₂ capture, transportation, and sequestration solution in Louisiana. This initiative will target the Mississippi River corridor, a major CO₂ emissions area, leveraging EnLink's existing pipeline infrastructure and Talos's River Bend CCS site. The project aims to provide efficient, cost-effective CO₂ management for industries in the region, significantly contributing to decarbonization efforts while utilizing Talos's geological expertise and EnLink's midstream capabilities.