Talos Energy Announces Positive Third Quarter Results

Talos Energy Inc., a Delaware-based energy company operating in the United States Gulf of Mexico and offshore Mexico, released its financial and operational results for the fiscal quarter ending September 30, 2024. The company reported positive outcomes across various key metrics, as detailed in the attached Exhibit 99.1.

A major highlight included the production of 96.5 thousand barrels of oil equivalent per day (MBoe/d), representing a robust performance at the high end of the third quarter 2024 guidance range. Talos also successfully reduced its debt by $100 million, bringing its leverage down to 0.9x*. Furthermore, the company initiated drilling activities at the high-impact Katmai West #2 well in the Gulf of Mexico, which is expected to enhance proved reserves following the initial discovery at the Katmai West #1 well in the west fault block.

Additionally, Talos Energy uncovered commercial quantities of oil and natural gas at the Ewing Bank 953 well, with initial production slated for mid-2026. The company also acquired a 21.4% non-operated working interest in the Monument discovery located in the Walker Ridge area. This strategic move aligns with Talos’s focus on operational efficiency and capital discipline.

Talos Energy’s financial performance in the third quarter 2024 showcased revenue of $509.3 million, driven by favorable realized prices for oil, natural gas liquids (NGLs), and natural gas. The company reported a net income of $88.2 million and adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $324.4 million.

Looking ahead, Talos Energy revised its production guidance to 91.0 – 94.0 MBoe/d for the full year 2024 and adjusted capital expenditures guidance to $510 – $530 million. The company remains attentive to maintaining a long-term leverage ratio below 1.0x and pursuing strategic opportunities to enhance shareholder value.

For a comprehensive overview, more details are available in the financial exhibit attached with this report. Talos Energy continues to focus on technical innovation, safe operations, and community engagement as it navigates the evolving energy landscape.

This press release contains supplemental non-GAAP information. Readers are encouraged to review the full filing for reconciliation of GAAP and non-GAAP financial measures.

*All references to “exhibit” or “filing” are related to the attached Exhibit 99.1 within the company’s 8-K report.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Talos Energy’s 8K filing here.

About Talos Energy

Talos Energy Inc, through its subsidiaries, engages in the exploration and production of oil, natural gas, and natural gas liquids in the United States and Mexico. It also engages in the development of carbon capture and sequestration. Talos Energy Inc was founded in 2011 and is headquartered in Houston, Texas.