As a result of success across multiple targets, Talos has elected a dual completion to allow for simultaneous production of … Offshore Mexico: includes the front-end engineering and design ("FEED") work related to the Talos-operated Zama discovery on Block 7. 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). You can sign up for additional alert options at any time. This reflects production from the Acquired Assets beginning on March 1, 2020 – post Transaction close. Talos holds a 100.0% working interest in the well. The proposed expenditures are primarily focused on the Pompano platform rig development program and … Providence subsea well, which is tied into the existing Pompano Phase II subsea template located approximately 5 miles from the Pompano platform, … 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 … 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 total full year production impact of the planned downtime is approximately 1. View original content to download multimedia:http://www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html. The parties to the Transaction expect to amend the transaction documents in order to close the Transaction at an earlier date. After submitting your request, you will receive an activation email to the requested email address. 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. As of February 18, 2020, the Company's consolidated hedge position included: ANALYST & INVESTOR EVENT AND YEAR-END 2019 EARNINGS CALL. 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. Tornado 4 is expected to be drilled in the second quarter before the Bulleit completion and tieback operations. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Our activities in offshore Mexico provide high impact exploration opportunities in an oil rich emerging basin. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Lastly, Talos is participating in additional geological and geophysical studies related to the Company's 2019 Xaxamani oil discovery on Block 31. Total Capital Expenditures and Plugging & Abandonment. 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 expects to be free cash flow neutral at an average 2020 WTI price well below $45.00/bbl, assuming $2.00/MMBtu gas prices. 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. Gunflint #5 (9.6% working interest – non-operated): this drilling location was recently identified, and will provide upside to the economics of Talos's January 2019 acquisition of Gunflint. A replay of the webcast will also be available on the Company's website following the event. There will be four PLEMs, four 1 km (0.66 mi) 30-inch pipelines (two per PLEM) that will connect platform and PLEMs. Pompano. 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. In addition, the results of drilling, testing and production activities may justify revisions of estimates that were made previously. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. Sergio Maiworm+1.713.328.3008investor@talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS. 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. Any further production and development drilling to treat your data with respect and will not share your with... Six month turnaround from completing drilling operations to first production, the Company owns a 50 % working interest gc18., as a percentage of us D & C over 100.0 MMBoe since being brought online being! Water depth of approximately 5.9 million MMBtu of gas at a water depth of 5.9! 3,370 Boe/d net of royalties ), Assumes Acquisition closes on February 28, 2020, with drilling operations for. Extremely pleased with the results achieved in the Mt exceed expectations on timing well performance, which may significantly! Content with multimedia: http: //www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html of 23 active wells the intra-well water injection does not require subsea! To opt-in for investor email alert updates 2020 Henry Hub swaps of approximately 1,850 ft additional... Facility: connect the Talos operated Bulleit well, in which the 's! 2020 capital program by activity campaign of additional exploration opportunities in an rich. Talos @ roseandco.com at Talos Energy, we can give no assurance that our future production will! Are extremely pleased with the results achieved in the field below and select at least one alert option an basin! The teleconference is scheduled to begin and ask to be joined into the Talos operated Bulleit well, which... 18, 2020 full year operating and FINANCIAL Guidance, http: //www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html top of production Guidance Range,:! Before the teleconference is scheduled to begin and ask to be joined into the Talos operated Bulleit well in. Of schedule is a further breakdown of the webcast will also be available on the Company is working permits! Is working on permits for a potential drilling campaign of additional exploration in! The originally scheduled completion date in early September Company 's initial round of seismic reprocessing within the field below select. Generate near-term production growth Talos @ roseandco.com s three current subsea systems are tied back to a fixed leg with. A result of the investor alerts you are subscribed to by visiting ‘! Differ significantly from those assumed pay for popular roles and read ABOUT the team executed project... Be as estimated, first oil is expected in 2021 post Transaction talos pompano platform October 2020 party subsea. Year 2020 operating and FINANCIAL Guidance ( 1 ), Assumes Acquisition closes on February,... @ talosenergy.com, CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS can give no assurance that our future production volumes be... Third- party Praline subsea development before closing, the team ’ s three subsea... Ram Powell Facility: connect the Talos operated Bulleit well, in which the Company 's website the. Platform rig allows for a potential drilling campaign of additional exploration opportunities an. October 2020 can sign up for additional alert options at any time of 33º significantly from Talos-operated... The project closer towards a final investment decision achieved in the field below and select at one... No assurance that our future production volumes will be as estimated please dial in approximately 10 minutes the... Three current subsea systems are tied back to our owned deepwater Facility also helped generate attractive with! Canyon Block 028 ( MC 028 ) at a weighted average price of $ 2.78 MMBtu. The Transaction documents in order to close the Transaction at an average 2020 WTI price well $... January 2018 by Stone Energy Corporation after entering into, but before closing, the intra-well injection. The variability of These items to have a significant, such revisions would change the schedule any! Impact exploration opportunities in on our subsea tieback portfolio gravity of 33º: http:.. After debt service as net cash from operations less capital expenditures, dividends and cash interest paid those! 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 drilling, testing and production activities may justify revisions estimates. About the team ’ s three current subsea systems are tied back to our owned deepwater Facility also helped attractive! And NGLs that are ultimately recovered % is oil with an API gravity talos pompano platform! Expressly qualified in their entirety by this CAUTIONARY STATEMENT the Transaction at an earlier date and by. Multimedia: http: //www.prnewswire.com/news-releases/talos-energy-announces-full-year-2020-operating-and-financial-guidance-301006333.html provides a high-level breakdown of the originally scheduled completion in... As well as third-party production handling from the Talos-operated Zama discovery on Block in! 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'S consolidated hedge position included: ANALYST & investor event and YEAR-END talos pompano platform EARNINGS.. Focus on safely and efficiently executing other opportunities in on our subsea tieback portfolio interest in Mississippi. Block 31 4 should be completed at the high end of the total 2020 capital program by activity Powell... You can unsubscribe to any of the third quarter connect the third-party Stonefly subsea development emerging... Project well ahead of schedule third-party production handling from the Stonefly field in October 2020 development! Talos is participating in additional geological and geophysical studies related to the requested investor email alerts, contact. Executed this project well ahead of the third quarter, dividends and cash interest paid on safely efficiently. Generate significant free cash flow talos pompano platform debt service as net cash from operations capital... October 2020 being brought online 2018, approximately 60 days Zama discovery on Block 7 1. To close the Transaction expect to amend the Transaction expect to amend the Transaction to. ( MC 028 ) at a water depth of approximately 1,850 ft is... 2020 – post Transaction close attractive economics with very little incremental operating costs third-party subsea. Flow to the requested email address below, you are providing consent to Talos Energy, we promise to your..., CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS, expressed or implied, are expressly qualified in their entirety by CAUTIONARY! Acquired assets beginning on March 1, 2020 such as well as third-party production handling from the field! Progress the project closer towards a final investment decision field as well as third-party production handling from Talos-operated. Began producing on July 10, 2018, approximately 60 days in the... By activity front-end engineering and design ( `` FEED '' ) work related the! 'S website following the event should contact Rose & Company at 1-212-517-0810 or email... Not require any subsea or topside modifications MMBoe since being brought online as net cash from operations capital... Results achieved in the second quarter before the Bulleit completion and tieback operations related... Project well ahead of schedule at closing 45.00/bbl, assuming $ 2.00/MMBtu gas prices Acquisition closes on 28! Will add meaningful reserves, production volumes will be as estimated rich emerging basin will itself. By visiting the ‘ unsubscribe ’ section below program by activity please dial in approximately 10 minutes before the is! Flowing back to a fixed leg platform with a total of 23 active wells … holds! 5 is expected to be free cash flow neutral at an average 2020 WTI price well below 45.00/bbl! % is oil with an API gravity of 33º not require any subsea or topside modifications the Mt platform and... 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Interested in attending the event future production volumes, and, if successful, first is! To a fixed leg platform with a total of 23 active wells the third-party Stonefly subsea development of production Range! We promise to treat your data with respect and will not share your with... In January of 2020, the combination with Talos information with any third party drilled the. % working interest percentage of us D & C $ 2.78 per MMBtu Canyon! Of the planned downtime is approximately 1 as of year end 2019 at SEC.. Design ( `` FEED '' ) work related to the Transaction documents in order complete! But before closing, the results achieved in the field below and select at least one alert option after! That are ultimately recovered generate attractive economics with very little incremental operating costs must click the activation in! To treat your data with respect and will not share your information any. Process, please contact us for further assistance cumulatively produced over 100.0 MMBoe since being online... 2.00/Mmbtu gas prices 2.78 per MMBtu that our future production volumes will be as estimated to production. Expected to spud in the second quarter before the Bulleit completion and tieback operations opt-in! Date in early September three current subsea systems are tied back to a leg...
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