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10 stories mentioning TALOUpdated 3d ago

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Sectors

Sector Update: Energy Stocks Edge Higher Premarket Wednesday

Energy stocks were edging higher premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.6%.The United States Oil Fund (USO) and United States Natural Gas Fund (UNG) were 0.3% higher.Front-month US West Texas Intermediate crude oil was 0.1% higher at $75.83 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $80.04 per barrel, and natural gas futures were down 0.3% at $2.67 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up 1% after the company posted an increase in Q2 adjusted earnings.Talos Energy (TALO) stock was more than 4% higher after the company overnight swung to Q2 non-GAAP net income as revenue increased during the period.Dorian LPG (LPG) shares were up more than 3% after the company reported higher fiscal Q1 adjusted earnings and revenue.

$LPG$PSX$TALO$UNG$USO$XLE
Equities

Talos Energy Swings to Q2 Adjusted Earnings, Revenue Rises

Talos Energy (TALO) reported Q2 non-GAAP net income late Tuesday of $0.57 per diluted share, swinging from the loss of $0.27 a year earlier.Analysts polled by FactSet expected earnings of $0.37.Revenue in the three months ended June 30 rose to $664.8 million from $424.7 million a year earlier.Analysts expected $577.9 million.

$TALO
Equities

Talos Energy Enters Offshore Mexico Farm-In Deal

Talos Energy (TALO) said late Monday it entered an agreement to farm into the Block 29 development in the southern Gulf of Mexico operated by Repsol through the acquisition of a 50% working interest.The company will acquire the stake for a contingent $30 million payment at final investment decision, a cash carry of up to $20 million on the next exploration well, and reimbursement of some pre-closing costs.The stake acquisition expands the company's resource base, strategic infrastructure, and establishes a platform for future exploration, according to a statement.The company expects to advance the project toward FID in 2027, and the deal is subject to regulatory approvals from Mexico, according to the company.

$TALO
Commodities

Carlos Slim's Grupo Carso to Buy TotalEnergies Stake in Gulf of Mexico Block

Carlos Slim's Grupo Carso has agreed to acquire France's TotalEnergies' (TTE) 30% stake in the EP Mexico Block 30 offshore field in the Gulf of Mexico, expanding the Mexican conglomerate's growing portfolio of oil and gas assets.The acquisition, announced in a securities filing on Thursday, will be carried out through a Grupo Carso subsidiary. UK-based Harbour Energy will retain its 70% interest in the block and continue as operator.The deal marks the latest step in 86-year-old billionaire Carlos Slim's strategy to build a larger presence in the segments of Mexico's energy sector open to private investment, even as state oil company Petroleos Mexicanos seeks private partners to reverse declining crude production and strengthen its finances.Slim said earlier this year that his companies would not pursue new joint ventures with Pemex, despite the state producer's efforts to attract outside investment, Bloomberg reported.Grupo Carso has steadily expanded its energy holdings over the past two years. In January, the company completed the acquisition of Fieldwood Energy's Mexican business from Russia's Lukoil, securing full ownership of two producing Gulf of Mexico fields.Last year, Carso also won a contract valued at about $2 billion from Pemex to drill over 30 wells in the Ixachi oil and gas field. Slim has said the project could nearly double crude production at Ixachi to around 200,000 barrels per day within three years.The group's acquisitions, including stakes in Talos Energy (TALO) and US-based refiner PBF Energy (PBF), have made Grupo Carso Pemex's largest private-sector partner.Slim said earlier this month that Mexico's oil and gas production could increase to as much as 2.5 million barrels per day with greater private-sector participation. Pemex produced 1.65 million barrels per day of crude oil and condensates as of the end of April.Price: $80.56, Change: $+1.74, Percent Change: +2.21%

$PBF$TALO$TTE
Treasury

Talos Energy Reports Pricing of $800 Million Notes Offering

Talos Energy (TALO) said late Wednesday its subsidiary, Talos Production, has priced an offering of $800 million of 8.000% Second-Priority Senior Secured Notes due 2034.Net proceeds will be used among others to help fund the Gulf of America acquisition and to redeem its 9.000% Second-Priority Senior Secured Notes due 2029, the company said. It expects to close the offering July 13.

$TALO
Equities

Talos Energy Launches $800 Million Offering of Second-Priority Senior Secured Notes Due 2034

Talos Energy (TALO) said Wednesday that its subsidiary has commenced an $800 million offering of second-priority senior secured notes due 2034.Talos Energy said it intends to use the net proceeds from the offering to fund a portion of the cash consideration for its pending Gulf of America acquisition, redeem all of the outstanding 9.000% second-priority senior secured notes due 2029 and pay related fees and expenses.

$TALO
Research

Roth Capital Upgrades Talos Energy to Buy From Neutral, Adjusts Price Target to $17 From $16

Talos Energy (TALO) has an average rating of overweight and mean price target of $19.09, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$TALO
Commodities

Shell to Sell Gulf of Mexico Assets to Talos, Ridgewood for $1.7 Billion

Shell Offshore, a unit of Shell (SHEL), agreed to sell Gulf of Mexico upstream assets to Talos Energy (TALO) and Ridgewood Energy for $1.7 billion, the company said Tuesday.Talos and Ridgewood subsidiaries will acquire Shell's 50% non-operated working interest in the Na Kika platform and associated fields, together with the company's 100% interest in the Coulomb tieback.The purchase price remains subject to customary closing adjustments and contingent payments, Shell said.Shell said its deepwater portfolio benefits from extensive infrastructure, operating efficiency and scale. It also noted that it remains the only international oil company with leading positions in both the Gulf of Mexico and Brazil, two of its highest-margin and lower-carbon producing regions.The transaction takes effect from July 1, 2025, and the companies expect to complete the deal by the end of 2026, subject to receiving the required regulatory approvals.Peter Costello, Shell's upstream president, said the company continues to optimize its Gulf of Mexico portfolio to strengthen the resilience and competitiveness of its upstream business."We remain focused on sustaining our material liquids production into the next decade," Costello said.

$SHEL$TALO
Equities

Talos Energy to Acquire Deepwater Gulf of America Assets From Shell for $850 Million

Talos Energy (TALO) on Tuesday agreed to jointly acquire deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy, for $850 million in cash, with Talos expecting its net consideration to be approximately $450 million to $500 million after estimated interim cash flows from the assets.The acquired interests include a 50% working interest and operatorship in the Coulomb field and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields, the company said.Talos plans to fund the deal through cash on hand and debt, and has secured $150 million in incremental lender commitments, raising its borrowing base to $850 million from $700 million upon closing. The deal is expected to close by year-end 2026, according to the company.

$BP$SHEL$TALO
Commodities

Talos Energy Q1 Output Near Higher End of Guidance, Project Pipeline Advances on Schedule

Talos Energy (TALO) produced an average of 63,800 barrels of oil per day and 88,800 barrels of oil equivalent per day in Q1, it said in an earnings update on Tuesday, volumes it said were at high end of its guidance.Natural gas production alone was 107.7 million cubic feet per day and natural gas liquids production was 7,100 barrels per day, it said. The company did not provide year-ago figures for comparison.Talos said it had made a strong start to 2026, having delivered its Cardona well ahead of schedule and receiving output from it above expectations. It said it had also achieved pleasing results from its deepwater facilities that would add to momentum over the course of the year.Talos drilled its CPN well and finished completion operations in Q1, delivering the project under budget and earlier than planned. It expects the well to deliver its first production in Q3, it said.The Monument discovery, in which Talos has a 29% non-operating stake, is expected to yield 20,000 to 30,000 barrels of oil equivalent a day from late 2026 and is being developed as a subsea tie-back to the Shenandoah facility in Walker Ridge.

$TALO

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