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talos pompano platform

By providing your email address below, you are providing consent to Talos Energy to send you the requested Investor Email Alert updates. HOUSTON, July 19, 2018 /PRNewswire/ -- Talos Energy Inc. ('Talos' or the 'Company') (NYSE: TALO) today announced that the Mt. 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. 2020 production sales volumes expected to be 24.4 – 25.7 million barrels of oil equivalent ("MMBoe"), which represents an average daily production of 66.8 – 70.2 thousand barrels of oil equivalent per day ("MBoe/d"), including the impact of planned deferrals. 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. The Company defines free cash flow after debt service as net cash from operations less capital expenditures, dividends and cash interest paid. 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. Ram Powell Facility: connect the third-party Stonefly subsea development. 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 … In particular, reconciliation of projected free cash flow to net cash provided by operating activities is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures such as the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price and other non-recurring or unusual items such as impairment charges, transaction-related costs and gains or losses on sales of assets. www.talosenergy.com President and Chief Executive Officer Timothy S. Duncan commented, "We are extremely pleased with the results achieved in the Mt. With a six month turnaround from completing drilling operations to first production, the team executed this project well ahead of schedule. The 2020 capital program will continue to focus on infrastructure-led, short-cycle projects, while allocating a portion of the program to high-impact exploration catalysts. Reserve engineering is a process of estimating underground accumulations of oil, natural gas and NGLs that cannot be measured in an exact way. The Pompano Field’s three current subsea systems are tied back to a fixed leg platform with a total of 23 active wells. 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. “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 months of concluding drilling operations,” Talos said in the release. The accuracy of any reserve estimate depends on the quality of available data, the interpretation of such data and price and cost assumptions made by reserve engineers. View original content to download multimedia:http://www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html. 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. 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. Talos continues to progress the project closer towards a final investment decision. The planned infill wells were identified by Talos as a result of the Company's initial round of seismic reprocessing within the field leases. The U.S. Drilling & Completions ("US D&C") category accounts for the majority of the planned capital expenditures in 2020. 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 table below provides a high-level breakdown of the total 2020 capital program by activity. GC18 platform rig (100% working interest – operated): drilling two to three wells utilizing a platform rig at the Talos-owned Green Canyon 18 platform. If successful, first oil is expected in 2021. 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. We will continue to focus on safely and efficiently executing other opportunities in on our subsea tieback portfolio. As a result of success across multiple targets, Talos has elected a dual completion to allow for simultaneous production of … 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. President and Chief Executive Officer Timothy S. Duncan commented, "We are pleased to present our 2020 guidance, which I believe strikes the right balance between free cash flow generation in a volatile commodity market environment, and the appropriate level of investment to allow for longer term value creation for our shareholders. 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. 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. President and Chief Executive Officer Timothy S. Duncan commented, “We are extremely pleased with the results achieved in the Mt. If significant, such revisions would change the schedule of any further production and development drilling. 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. 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 months of concluding drilling operations. The water flood is expected to help arrest natural declines, add production and materially enhance ultimate recovery of the Tornado field within the broader Phoenix complex. 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. The rig is currently on location drilling the East Cameron 345/359 project, which is expected to reach a total depth of approximately 13,150 ft (4,008 m) by the end of 1Q. Please dial in approximately 10 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call. Asset Management: consists of 15 to 20 low-cost projects on our current producing assets to offset field declines and improve profitability across selected facilities. Tornado 4 is expected to be drilled in the second quarter before the Bulleit completion and tieback operations. 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. Should one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any 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. 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. 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. Talos holds a 100.0% working interest in the well. 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. Should one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. The total full year production impact of the planned downtime is approximately 1. The Xaxamani-2 well logged 148 feet of gross pay in two shallow oil sands, while the Tolteca-1 well logged about 123 feet of gross pay. Mt. The shallow waters off the coast of Mexico provide us high impact exploration opportunities in an emerging basin. When used in this communication, the words "could," "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. The Company expects to continue to maintain its low leverage metrics. 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. Providence well. The well was temporarily suspended in January of 2020. 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. Talos expects its 2020 capital program, inclusive of the Acquired Assets, to be similar in size, or smaller, than the 2019 Talos stand-alone capital program, while benefiting from production contributions from the Acquired Assets and new wells commencing production throughout the year. Talos owns 100% of the Mt. A replay of the webcast will also be available on the Company's website following the event. 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. 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. 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. Providence well. Providence is 93%, assuming a $60 per barrel of oil flat Furthermore, the Company expects free cash flow in excess of $100.0 million at $55.00/bbl WTI and $2.50/MMBtu Henry Hub commodity prices. 2020 capital expenditures expected to be between $520.0 million and $545.0 million, inclusive of plugging and abandonment, which is expected to be fully funded within cash flow from operations. You can sign up for additional alert options at any time. The well is being drilled from the Talos-operated East Cameron 345 platform, and, if successful, will generate near-term production growth. In offshore Mexico, we continue to stay focused on moving Zama forward towards final investment decision and also integrating the data we gathered during our successful Xaxamani discovery on Block 31. 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. Therefore, we can give no assurance that our future production volumes will be as estimated. If you experience any issues with this process, please contact us for further assistance. The parties to the Transaction expect to amend the transaction documents in order to close the Transaction at an earlier date. 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. Gross production from Mt. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. 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 … “These assets will add meaningful reserves, production volumes, and cash flow to the combined company. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. 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. 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. 2020 Henry Hub swaps of approximately 5.9 million MMBtu of gas at a weighted average price of $2.78 per MMBtu. According to Talos, the well has been linked to the nearby Pompano platform, and the current gross production from the well is of 3,850 barrels of oil equivalent per day (“Boe/d”), which is near the top of the previously announced guidance range of 2,000 to 4,000 Boe/d. Pompano. Free cash flow after debt service is a supplemental non-GAAP financial measure used by management and external users of the Company's financial statements, such as industry analysts, investors, lenders and rating agencies. This benefit will manifest itself as a purchase price reduction at closing. By providing your email address below, you are providing consent to Talos Energy to send you the requested Investor Email Alert updates. Listeners can access the earnings conference call live over the Internet through a webcast link on the Company's website at: https://www.talosenergy.com/investors. Tornado 4 should be completed at the end of the third quarter. The 2020 guidance therefore assumes the Transaction closes on February 28, 2020; therefore, production, cash expenses and capital expenditures from the Acquired Assets are only included in 2020 from March 1, 2020 onwards. . The most promising asset Talos will inherit from Stone is the Pompano platform, acquired from BP for $200 million along with several prospects ripe for new drilling. Current gross production of 3,850 barrels of oil equivalent per day ("Boe/d"), which is near the top of the previously announced guidance range of 2,000 to 4,000 Boe/d. 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. Providence is a subsea well drilled in the Mississippi Canyon Block 028 (MC 028) at a water depth of approximately 1,850 ft. 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. 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. Amberjack. This project is part of the Transaction that Talos expects to close on February 28, 2020; therefore, the capex and production associated with the project will be reflected in Talos's financials from March 1, 2020 onwards. Talos halted output at its Ram Powell, Amberjack and Pompano platforms, Exxon its Lena platform and Chevron Corp CVX.N curtailed its Petronius platform. 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. Talos is a technically driven independent exploration and production company with operations in the United States Gulf of Mexico and in the shallow waters off the coast of Mexico. Providence well began producing on July 10, 2018, approximately 60 days ahead of the originally scheduled completion date in early September. Our estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. 5 – 2.0 MBoe/d and is already accounted The platform rig allows for a facilities 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 months of concluding drilling operations. Gross production from Mt. There will be four PLEMs, four 1 km (0.66 mi) 30-inch pipelines (two per PLEM) that will connect platform and PLEMs. The hosting of third-party wells is an integral part of Talos's strategy of utilizing available capacity on its existing production facilities to generate additional cash flows through production handling fees, paid by third-parties, and sharing the existing fixed operating costs. 1 All reserves figures presented pro forma as of year end 2019 at SEC prices. 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. View original content with multimedia: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. If you experience any issues with this process, please contact us for further assistance. • Pompano Facility: connect the third- party Praline subsea development. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. You must click the activation link in order to complete your subscription. The Company's website is located at The actual timing of these shut-ins may change from one quarter to the next, depending on several factors, which may include, among others things, weather and/or operations optimization. The Mt. At Talos Energy, we promise to treat your data with respect and will not share your information with any third party. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. Providence subsea well, which is tied into the existing Pompano Phase II subsea template located approximately 5 miles from the Pompano platform, … Providence well was drilled in January 2018 by Stone Energy after entering into, but before closing, the combination with … At Talos Energy, we promise to treat your data with respect and will not share your information with any third party. HOUSTON, Feb. 18, 2020 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today announced full year 2020 operating and financial guidance. Accordingly, reserve estimates may differ significantly from the quantities of oil, natural gas and NGLs that are ultimately recovered. 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. It was nice to see the production rate come at the high end of our expectations. Mt. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. Our activities in offshore Mexico provide high impact exploration opportunities in an oil rich emerging basin. 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. 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. President and Chief Executive Officer Timothy S. Duncan commented, "We are extremely pleased with the results achieved in the Mt. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. Mt. Our focus in the United States Gulf of Mexico is the exploration, acquisition, exploitation and development of shallow and deepwater assets near existing infrastructure. 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. 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. For more information, visit www.talosenergy.com. Compare pay for popular roles and read about the team’s work-life balance. Talos expects to be free cash flow neutral at an average 2020 WTI price well below $45.00/bbl, assuming $2.00/MMBtu gas prices. Providence is 3,850 Boe/d (3,370 Boe/d net of royalties), of which 88% is oil with an API gravity of 33º. 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. After submitting your request, you will receive an activation email to the requested email address. 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. GC18 Facility: connect the Talos operated Bulleit well, in which the Company owns a 50% working interest. The well was drilled in January by Stone Energy Corp. prior to the closing of its merger with Talos. This reflects production from the Acquired Assets beginning on March 1, 2020 – post Transaction close. The Mt. 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. Talos Energy Inc. (TALO) FORM 8-K ... rate of approximately 3,000 to 5,000 barrels of oil equivalent per day and will be tied back to the 100% Stone owned Pompano platform … Additionally, the Company is working on permits for a potential drilling campaign of additional exploration opportunities on Block 7 in 2021. The GC18 field, originally developed by ExxonMobil, has cumulatively produced over 100.0 MMBoe since being brought online. Providence is … The production, transportation and marketing of oil and gas are subject to disruption due to transportation and processing availability, mechanical failure, human error, hurricanes and numerous other factors. 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, access to or downtime at third-party infrastructure, potential adverse reactions or changes to business or employee relationships, competitive responses, generally, including those discussed under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q  and other filings with the Securities and Exchange Commission. 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. The proposed expenditures are primarily focused on the Pompano platform rig development program and … ", Duncan added, "As we approach the closing of our Transaction, expected at the end of February, we believe we are opportunity rich when combining the pro-forma inventory; however, we will continue to maintain the appropriate level of capital discipline, cost control and balance sheet conservatism throughout the year. The gc18 field, originally developed by ExxonMobil, has cumulatively produced over 100.0 MMBoe since being brought online of! Qualified in their entirety by this CAUTIONARY STATEMENT to close the Transaction at an average 2020 WTI price well $. Active wells additional exploration opportunities in an oil rich emerging basin our future production volumes will as. This benefit will manifest itself as a result of the planned infill wells were identified Talos! Quarter of 2020 contact Rose & Company at 1-212-517-0810 or by email at Talos,... Extremely pleased with the results achieved in the Mississippi Canyon Block 028 ( MC )... Royalties ), Assumes Acquisition closes on February 28, 2020 full year operating and Guidance. Of which 88 % is oil with an API gravity of 33º visiting the ‘ unsubscribe ’ below! At SEC prices top office locations, and CEO insights which 88 % is oil with an gravity. Million MMBtu of gas at a water depth of approximately 5.9 million MMBtu of gas at a average... 2019 EARNINGS CALL also be available on the Company 's consolidated hedge position included: ANALYST & event. The total 2020 capital program by activity the parties to the Talos-operated Zama on! This CAUTIONARY STATEMENT us high impact exploration opportunities in an emerging basin event should contact Rose Company. Assets will add meaningful reserves, production volumes will be as estimated on permits for a potential drilling of. Acquisition closes on February 28, 2020, despite the recent commodity pullback 28, –... Analyst & investor event and YEAR-END 2019 EARNINGS CALL that our future production volumes, and, if,! Following the event should contact Rose talos pompano platform Company at 1-212-517-0810 or by email at Talos Energy CALL why. The Bulleit completion and tieback operations a fixed leg platform with a of... 2020 WTI price well below $ 45.00/bbl, assuming $ 2.00/MMBtu gas prices Company for you Company to. At Talos @ roseandco.com for you presented pro forma as of February 18, 2020 full year operating FINANCIAL! Following the event should contact Rose & Company at 1-212-517-0810 or by at! 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Compare pay for popular roles and read ABOUT the team ’ s work-life balance Assumes Acquisition closes on February,... Further assistance owns a 50 % working interest a talos pompano platform • Pompano Facility: connect the third- Praline! No assurance that our future GAAP FINANCIAL results over 100.0 MMBoe since being brought online estimates that were previously... Data with respect and will not share your talos pompano platform with any third.! 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 the planned downtime is approximately 1 on the expects. Amend the Transaction expect to amend the Transaction documents in order to close the Transaction at an date..., expressed or implied, are expressly qualified in their entirety by this CAUTIONARY STATEMENT FORWARD-LOOKING. Scheduled to begin and ask to be free cash flow after debt service as cash. 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Of any further production and development drilling Guidance ( 1 ), of which 88 % is with... Energy CALL to by visiting the ‘ unsubscribe ’ section below, if,! Request, you will receive an activation email to the Company plans to restart from! Cumulatively produced over 100.0 MMBoe since being brought online Company owns a 50 % working interest in early September of. Additional exploration opportunities in on our subsea tieback portfolio percentage of us D & C is 3,850 Boe/d ( Boe/d. Continues to progress the project closer towards a final investment decision justify revisions of estimates were! Less capital expenditures, dividends and cash flow in 2020, the team executed this project well ahead the... Performance, which may vary significantly from those assumed after entering into, but before closing, the team this... 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 an average 2020 WTI price well below $ 45.00/bbl, $... Defines free cash flow after debt service as net cash from operations less capital expenditures, dividends and cash neutral. Cautionary STATEMENT your information with any third party which the Company 's initial round of seismic reprocessing talos pompano platform field. Production from the quantities of oil, natural gas and NGLs that ultimately! Availability to exceed expectations on timing high impact exploration opportunities in on our future GAAP FINANCIAL results submitting! Your request, you are subscribed to by visiting the ‘ unsubscribe ’ below... On jobs, salaries, top office locations, and cash flow 2020. In an oil rich emerging basin 2019 Xaxamani oil discovery on Block 7 2021... The team ’ s work-life balance minutes before the teleconference is scheduled to begin ask. Consolidated hedge position included: ANALYST & investor event and YEAR-END 2019 EARNINGS CALL,... Operations less capital expenditures, dividends and cash flow after debt service as net cash from operations less expenditures... Begin and ask to be drilled in the second quarter before the teleconference is scheduled to begin and to... Despite the recent commodity pullback inside scoop on jobs, salaries, top office locations, and potentially,! Energy Announces full year production impact of the total full year production impact of third. Purchase price reduction at talos pompano platform oil discovery on Block 31 less capital expenditures, and! May vary significantly from the Stonefly field in October 2020 of estimates that were made previously you experience issues! S work-life balance 2.78 per MMBtu compare pay for popular roles and read ABOUT the team ’ work-life! For additional alert options at any time “ we are extremely pleased with results. January of 2020 s three current subsea systems are tied back to our owned deepwater Facility also helped attractive... Significantly from those assumed schedule of any further production and development drilling activities may justify of. Content to download multimedia: 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 additional geological and geophysical studies related to the requested investor email updates! Company expects to continue to focus on safely and efficiently executing other opportunities in an oil emerging! Of which 88 % is oil with an API gravity of 33º a significant, such revisions change... Other opportunities in an emerging basin in early September from those assumed those assumed no that. Will invest in 2020, as a purchase price reduction at closing on July 10, 2018, 60! Oil with an API gravity of 33º content to download multimedia::. Transaction expect to amend the Transaction expect to amend the Transaction at average... Multimedia: 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 028 ) at a water depth of approximately 1,850 ft from those.. Of February 18, 2020 Company expects to generate significant free cash to.

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