Talos Energy (TALO) Update - Dec 7

[dan_s]

Talos is a former Sweet-16 company that should get off to a good start in 2024 with two high rate exploration wells being completed to sales earlier than expected. < Lime Rock and Venice Prospect wells are expected to add 10,000 Boepd (40% oil & 20% NGLs) net to Talos' revenue interest.

HOUSTON, Dec. 7, 2023 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today provides operational updates.

Talos expects the impact related to the Main Pass Oil Gathering pipeline shut-in to be immaterial to its fourth quarter 2023 results. Talos is among seven oil producers whose production has been shut-in since mid-November 2023 in the U.S. Gulf of Mexico as a result of the closing of the pipeline. < The pipeline was shut-in due to an oil leak.

Talos anticipates first production ahead of schedule by year-end 2023 for Talos's Venice and Lime Rock discoveries, which will be tied-back to the Talos-owned and operated Ram Powell facility. Talos owns a 60% working interest in both wells. < This is GREAT NEWS which should push Talos' production close to my 2024 full-year forecast of 80,000 Boepd.

Talos reaffirms its fourth quarter 2023 operational guidance. As previously reported, for the fourth quarter 2023, Talos expects average daily production of 66.5 - 68.5 thousand barrels of oil equivalent per day. < My Q4 forecast is based on production of 67,500 Boepd.

TipRanks: "In the last 3 months, 3 ranked analysts set 12-month price targets for TALO. The average price target among the analysts is $21.33."

TALO was trading at $12.55 when this was posted.