Talos Energy Inc (TALO) News & EventsTALOTalos Energy Inc

Talos Energy Completes Acquisition of Shell Deepwater Assets for $420M

Talos Energy (TALO) announced the closing of its previously announced acquisition of certain deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy Corporation. The transaction includes a 50% working interest and operatorship in the Coulomb field and a 25% non-operated working interest in the BP-operated Na Kika platform and four associated fields. The final net cash purchase price at closing was $420M, which includes the previously escrowed $42.5M deposit, and is subject to customary post-closing adjustments. Third quarter 2026 results will include contributions from the acquired assets from the closing date through quarter-end, with the acquired assets fully consolidated beginning in the fourth quarter of 2026. Updated full-year 2026 guidance will be provided in conjunction with the Company's third quarter 2026 earnings release.

Talos Reports Q2 Revenue of $664.81M, Exceeding Expectations

Reports Q2 revenue $664.81M, consensus $578.5M. "The second quarter marked another meaningful step forward in the execution of our strategy and reinforces our confidence in the long-term value creation opportunities ahead," said Paul Goodfellow, President and Chief Executive Officer of Talos. "We advanced all three pillars of our strategic framework as we continue to build a long-lived, scaled portfolio by expanding our deepwater scale, enhancing our development inventory through greenfield opportunities, and adding large-scale exploration potential at low entry cost. At the same time, our teams continued delivering on the Optimal Performance Plan, achieving more than 65% of the 2026 target in the first half of the year and demonstrating our relentless focus on operational excellence, cost discipline and value creation."

Talos Energy Signs Agreement to Acquire 50% Interest in Block 29 Offshore Mexico

Talos Energy announced the execution of a definitive agreement to farm into the Block 29 development offshore Mexico, operated by Repsol, S.A. Talos will acquire a 50% working interest for a contingent $30M payment at final investment decision, a cash carry of up to $20M on the next exploration well, and reimbursement of certain pre-closing costs. The acquired assets include a 50% working interest in Block 29, located in the Salinas-Sureste Basin in the southern Gulf of Mexico, an area that has seen more than a dozen deepwater discoveries. Operated by Repsol, terms include a contingent $30M payment if Talos elects to take a FID, a cash carry of up to $20M on the next exploration well, and reimbursement of certain pre-closing costs, subject to customary terms, conditions, and closing adjustments. Upon closing, Talos will hold a 50% working interest and, together with Repsol, will be the sole participants in the block. Block 29 contains the Polok and Chinwol oil discoveries, which together are estimated to contain more than 200 MMBoe of gross recoverable resource, along with multiple additional exploration prospects. The partners expect to progress the project toward FID in 2027. The transaction is subject to approval by Mexico's Secretaria de Energia and the National Anti-trust Commission of Mexico.