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Talos Energy reports Q1 adjusted EPS 6c, consensus (10c)

Reports Q1 revenue $513.06M, consensus $498.29M. Reports Q1 production of 100.9 MBoe/d, 68% oil, 78% liquids. CEO Paul Goodfellow stated, “I’m excited to be a part of Talos and pleased to report our fifth consecutive quarter of record production, achieving approximately 101 MBoe/d in Q1 2025. This milestone was accompanied by strong Adjusted EBITDA and Adjusted Free Cash Flow, highlighting our disciplined focus on execution. Operationally, we achieved strong results, finishing well completion operations on our Sunspear discovery. Furthermore, completion operations are underway at Katmai West #2, following successful drilling results announced in early January 2025. We remain on track for both projects to begin production in late Q2 2025. At the end Q1 2025, we maintained a significant cash balance, even while actively repurchasing shares, and have an undrawn credit facility. This positions Talos to manage the ongoing fluctuations in commodity prices. Our 2025 guidance, robust EBITDA margins, and strong hedge positions allow us to be free cash flow positive for the full year, even at oil prices of approximately $40 per barrel on a go-forward basis. Furthermore, we have the flexibility to adjust our 2025 capital budget, enabling us to adapt to changing market conditions and still maintain positive free cash flow.”

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