Talos Energy (TALO) Update - Mar 12
Posted: Tue Mar 12, 2024 9:50 am
We will be publishing an updated profile on Talos on Wednesday. The QuarterNorth Acquisition has closed three weeks earlier than expected. It increases Talos' production by ~30,000 Boepd (75% oil). Talos reported a 4,000 Boepd production increase from Q3 to Q4 2023. They will report production increases over the next two quarters that will be much larger. This is why I added TALO to our Sweet 16.
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HOUSTON, March 11, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today provided updated 2024 operational and financial guidance to reflect the closing of the QuarterNorth Energy Inc. ("QuarterNorth") acquisition earlier than expected. Prior guidance was based on an end-of-first-quarter 2024 close.
For the full year 2024, Talos expects average daily production between 89.0 and 95.0 thousand barrels of oil equivalent per day ("MBoe/d"), an increase from the previous guidance of between 87.0 and 93.0 MBoe/d.
This updated guidance includes approximately ten months of QuarterNorth contributions, as well as expected planned downtime and risking for unplanned downtime and weather-related events. < Each year my forecast model for TALO includes a 10% dip in production from Q2 to Q3 to account for potential hurricane related shut-ins.
Full year 2024 Cash Expenses guidance includes approximately ten months of QuarterNorth and a full twelve-month impact of the EnVen transaction, compared to only approximately ten and a half months incurred in 2023. Talos expects approximately $15 million in expenses related to the Helix Producer I ("HP-I") drydock and other associated maintenance. This guidance also includes multiple deepwater workover projects expected to increase and/or reinstate production.
For the first quarter 2024, Talos expects average daily production between 78.0 and 80.0 MBoe/d, an increase from the previous guidance of between 70.0 and 72.0 MBoe/d. First quarter guidance includes March impacts of approximately one month of contribution from QuarterNorth, partial impact of the planned HP-I dry-dock shut-in and planned downtime at the Tarantula facility, impacting production from the Katmai field.
For more details go here: https://www.talosenergy.com/investor-relations/news/news-details/2024/Talos-Energy-Increases-2024-Operational-and-Financial-Guidance-Following-Early-Closing-of-QuarterNorth-Acquisition/default.aspx
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HOUSTON, March 11, 2024 /PRNewswire/ -- Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) today provided updated 2024 operational and financial guidance to reflect the closing of the QuarterNorth Energy Inc. ("QuarterNorth") acquisition earlier than expected. Prior guidance was based on an end-of-first-quarter 2024 close.
For the full year 2024, Talos expects average daily production between 89.0 and 95.0 thousand barrels of oil equivalent per day ("MBoe/d"), an increase from the previous guidance of between 87.0 and 93.0 MBoe/d.
This updated guidance includes approximately ten months of QuarterNorth contributions, as well as expected planned downtime and risking for unplanned downtime and weather-related events. < Each year my forecast model for TALO includes a 10% dip in production from Q2 to Q3 to account for potential hurricane related shut-ins.
Full year 2024 Cash Expenses guidance includes approximately ten months of QuarterNorth and a full twelve-month impact of the EnVen transaction, compared to only approximately ten and a half months incurred in 2023. Talos expects approximately $15 million in expenses related to the Helix Producer I ("HP-I") drydock and other associated maintenance. This guidance also includes multiple deepwater workover projects expected to increase and/or reinstate production.
For the first quarter 2024, Talos expects average daily production between 78.0 and 80.0 MBoe/d, an increase from the previous guidance of between 70.0 and 72.0 MBoe/d. First quarter guidance includes March impacts of approximately one month of contribution from QuarterNorth, partial impact of the planned HP-I dry-dock shut-in and planned downtime at the Tarantula facility, impacting production from the Katmai field.
For more details go here: https://www.talosenergy.com/investor-relations/news/news-details/2024/Talos-Energy-Increases-2024-Operational-and-Financial-Guidance-Following-Early-Closing-of-QuarterNorth-Acquisition/default.aspx