About: Talos Energy Inc. (TALO) View as PDF UNITED STATES SECURITIES AND EXCHANGE COMMISSION ... is located nine miles from the Pompano platform and is estimated to … Production and Expenses from Acquired Assets only included from March 1, 2020 onwards, Inclusive of all Lease Operating Expenses and Workover and Maintenance, Excludes non-cash equity-based compensation, EXPECTED ACQUISITION CLOSING DATE AND IMPACT TO 2020 GUIDANCE. Talos Energy Announces Early Production Start Of Mt. GC18 platform rig (100% working interest – operated): drilling two to three wells utilizing a platform rig at the Talos-owned Green Canyon 18 platform. Talos holds a 100.0% working interest in the well. The Company defines free cash flow after debt service as net cash from operations less capital expenditures, dividends and cash interest paid. Shut-ins associated with these projects included in the 2020 production guidance include: The total full year production impact of the planned downtime is approximately 1.5 – 2.0 MBoe/d and is already accounted for in the production guidance. Below is a further breakdown of the types of projects Talos will invest in 2020, as a percentage of US D&C. Up to two additional high-impact projects expected in 2020: projects currently going through permitting stages and specifics will be announced as these plans are finalized. Gross production from Mt. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. The Company's website is located at Providence well. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. There will be four PLEMs, four 1 km (0.66 mi) 30-inch pipelines (two per PLEM) that will connect platform and PLEMs. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. After submitting your request, you will receive an activation email to the requested email address. Find out what works well at Talos Energy from the people who know best. The Company's 2020 capital program was devised to balance infrastructure-led short-cycle projects, such as the Bulleit completion and tieback and several near-field development and exploitation wells, with up to three high-impact exploration wells, including Puma West. Providence is … Regardless of exact closing date, however, the economic benefits of the Acquired Assets will accrue to Talos's benefit, because the effective date of the Transaction is July 1, 2019. Pompano Facility: connect the third-party Praline subsea development. Talos Energy Announces Full Year 2020 Operating And Financial Guidance, http://www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html. The well was temporarily suspended in January of 2020. Continued focus on cost control on all aspects of the business, with cash general and administrative ("G&A") expenses expected to be below $3.00 per Boe. President and Chief Executive Officer Timothy S. Duncan commented, "We are extremely pleased with the results achieved in the Mt. As one of the US Gulf's largest public independent producers, we leverage decades of geology, geophysics and offshore operations expertise towards the acquisition, exploration, exploitation and development of assets in key geological trends that are present in many offshore basins around the world. HOUSTON, July 19, 2018 /PRNewswire/ -- Talos Energy Inc. ('Talos' or the 'Company') (NYSE: TALO) today announced that the Mt. The production sales volumes, as guided, include certain Talos-owned facilities' shut-ins, each related to operations necessary to connect and host new Talos and third-party subsea wells, operations necessary to mobilize and de-mobilize a platform rig on the Green Canyon 18 ("GC18") platform, and general preventative maintenance on different facilities. Ram Powell Production Restart: Talos has received final regulatory approvals and is in the process of completing repairs to the Ram Powell production platform, which was producing approximately 4.8 MBoe/d net to Talos prior to the shut-in. Tornado 4 is expected to be drilled in the second quarter before the Bulleit completion and tieback operations. Platform Rig Contract: Talos has contracted the Helmerich & Payne 100 platform drilling rig for near-field development and exploitation drilling opportunities surrounding the Company's Green Canyon 18 facility, with the option thereafter of similar projects at the Pompano and Amberjack facilities. 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. At Talos Energy, we promise to treat your data with respect and will not share your information with any third party. Stone Energy’s Interim Chief Executive Officer and President James M. Trimble said the acquisition of the Ram Powell field would support the strategies associated with the previously announced combination with Talos Energy. Offshore components include two bi- directional 74 km (46 mi) 36-inch pipelines connecting the Oyster Creek terminal to an eight-pile fixed platform situated in a water depth of 35 m (115 ft). The combined Talos team completed the well and hooked it up to the 100% Talos owned Pompano platform in the Company’s Mississippi Canyon complex within six … The production mix for the fourth quarter of 2017 was approximately 72% oil, 21% natural gas, and 7% natural gas liquids (“NGLs”), on an equivalent basis. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances after the date of this communication. Providence is 3,850 Boe/d (3,370 Boe/d net of royalties), of which 88% is oil with an API gravity of 33º, Talos owns 100% of the Mt. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Puma West (25% working interest – non-operated): plans are being developed to return to the prospect later this year with a slightly modified casing design to continue drilling the well through the main objectives in the Middle and Lower Miocene to a total true vertical depth of approximately 25,200 feet below the seabed. Our 2020 capital program will be self-funded well below the current $50.00/bbl WTI commodity price environment, and assures that we can maintain, and even improve, our peer leading leverage metrics. This benefit will manifest itself as a purchase price reduction at closing. Providence is 93%, assuming a $60 per barrel of oil flat 2020 Henry Hub swaps of approximately 5.9 million MMBtu of gas at a weighted average price of $2.78 per MMBtu. 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. Houston Texas Photographer David Duncan with David Duncan Photography captures images for Image Libraries Annual Reports Corporate Clients Energy Industrial Companies Our estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. The total full year production impact of the planned downtime is approximately 1.5 – 2.0 MBoe/d and is already accounted for in the production guidance. For more information, visit www.talosenergy.com. • GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. As of February 18, 2020, the Company's consolidated hedge position included: ANALYST & INVESTOR EVENT AND YEAR-END 2019 EARNINGS CALL. Additionally, Talos will host its first-ever analyst and investor event on Thursday, March 12, 2020 at 2:00 PM Eastern Time, during which members of Talos's management team will discuss the Company's strategic and execution milestones, assets, portfolio and future outlook for the business, among other topics. This technique will allow for intra-well flow between the aquifer and the producing horizon, providing a natural source of water and reservoir energy to the Tornado 1 and Tornado 2 subsea wells. Providence is one of several drilling locations being developed through our team's efforts utilizing sophisticated reservoir modeling and recent vintage wide azimuth 3D seismic that has undergone proprietary reprocessing, Production from Pompano, including the Mt. The platform rig allows for a shortened turnaround from drilling to first production by utilizing dry trees … The platform rig allows for a facilities Tornado water flood (65% working interest – operated): drilling the Tornado 4 subsea injector well that includes two completions: one completion in a known regional aquifer above the Tornado producing sands and a second completion in the Tornado pay sand. By accessing the regional aquifer, the intra-well water injection does not require any subsea or topside modifications. Providence Well Near The Top Of Production Guidance Range, http://www.prnewswire.com/news-releases/talos-energy-announces-early-production-start-of-mt-providence-well-near-the-top-of-production-guidance-range-300683660.html. 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. Talos owns 100% of the Mt. Providence well, is sold on the High Louisiana Sweet ("HLS") market, which currently sells approximately at $4.00 per barrel premium to WTI pricing. The Company expects to generate significant free cash flow in 2020, despite the recent commodity pullback. Lastly, Talos is participating in additional geological and geophysical studies related to the Company's 2019 Xaxamani oil discovery on Block 31. Gross production from Mt. Projected free cash flow is a non-GAAP financial measure defined by the Company as net cash provided by operating activities less capital expenditures, principal payments of the capital lease and changes in operating assets and liabilities. Additionally, the Company is working on permits for a potential drilling campaign of additional exploration opportunities on Block 7 in 2021. The well was drilled in January by Stone Energy Corp. prior to the closing of its merger with Talos. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. The Talos-operated Phoenix complex, which consists of the Typhoon, Boris and Tornado assets, recently reached a production milestone of 40.0 thousand barrels of oil per day gross in early May following the drilling, completion, and connection of two recent subsea wells, Tornado 3 and Boris 3. Claiborne #3 (25% working interest – non-operated): this well was spud in January of 2020 and first production is expected at the end of the second quarter of 2020. Providence subsea well, which is tied into the existing Pompano Phase II subsea template located approximately 5 miles from the Pompano platform, which is also owned 100% owned by Talos, The expected IRR from Mt. No reconciliation between projected free cash flow and net cash provided by operating activities is included in this release, however, because we are unable to quantify certain amounts that would be required to be included in the GAAP measure without unreasonable efforts. On a full year pro forma basis, if Talos were to assume the contribution from the Acquired Assets beginning January 1, 2020, the total daily average production guidance for the year would have been approximately 70.0 – 73.5 MBoe/d, inclusive of planned deferrals. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances after the date of this communication. Our team's preparation allowed us to take advantage of earlier rig availability to exceed expectations on timing. The Company also announced that it expects to close the previously announced acquisition of affiliates of ILX Holdings, among other entities (the "Acquired Assets", the "Acquisition", or the "Transaction"), on February 28, 2020. GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. Significant positive 2020 free cash flow at $50.00/bbl WTI and $2.00/MMBtu Henry Hub, as Talos expects to benefit from strong margins and premium pricing to WTI. Mt. The Company plans to restart production from the Ram Powell field as well as third-party production handling from the Stonefly field in October 2020. • Pompano Facility: connect the third- party Praline subsea development. Using active subsea infrastructure and flowing back to our owned deepwater facility also helped generate attractive economics with very little incremental operating costs. 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. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. Providence subsea well, which is tied into the existing Pompano Phase II subsea template located approximately 5 miles from the Pompano platform, which is also owned 100% owned by Talos; The expected IRR from Mt. HOUSTON, July 19, 2018 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced that the Mt. • Platform Rig Contract:Talos has contracted the Helmerich & Payne 100 platform drilling rig -for nearfield development and exploitation drilling opportunities surrounding the Company’s Green Canyon 18 facility, with the option thereafter of similar projects at the Pompano and Amberjack . 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 our operations, currently in the United States Gulf of Mexico and offshore Mexico. Houston — Gulf of Mexico operator Talos Energy drilled two wells on Mexico's offshore Block 31 during the third quarter of 2019, which revealed a reservoir that appears thicker and bigger than expected, the company's top executive said Thursday. 2020 WTI swaps of approximately 6.5 MMBbl of oil at a weighted average price of $56.21 per barrel; 2020 WTI collars of approximately 2.7 MMBbl of oil at a weighted average floor and ceiling prices of $55.00 and $64.23 per barrel, respectively; 2021 WTI swaps of approximately 0.7 MMBbl of oil at a weighted average price of $54.63 per barrel; and. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. By providing your email address below, you are providing consent to Talos Energy to send you the requested Investor Email Alert updates. 5 – 2.0 MBoe/d and is already accounted Please dial in approximately 10 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. The U.S. Drilling & Completions ("US D&C") category accounts for the majority of the planned capital expenditures in 2020. If successful, first oil is expected in 2021. Our focus in the United States Gulf of Mexico is the exploration, acquisition, exploitation and development of shallow and deepwater assets near existing infrastructure. President and Chief Executive Officer Timothy S. Duncan commented, "We are extremely pleased with the results achieved in the Mt. Providence well. Talos will release fourth quarter and full-year 2019 results for the period ended December 31, 2019 on Wednesday, March 11, 2020 after the U.S. financial market closes. Estimates for our future production volumes are based on assumptions of capital expenditure levels and the assumption that market demand and prices for oil and gas will continue at levels that allow for economic production of these products. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures,  potential adverse reactions or changes to business or employee relationships resulting from the business combination between Talos Energy LLC and Stone Energy Corporation, competitive responses to such business combination, the possibility that the anticipated benefits of such business combination are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies, litigation relating to the business combination, and other factors that may affect our future results and business, generally, including those discussed under the heading "Risk Factors" in our final consent solicitation statement/prospectus, dated April 9, 2018, filed with the Securities and Exchange Commission pursuant to Rule 424(b)(3) under the Securities Act. 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