Talos Energy Expects 2024 Production Between 87 Thousand-93 Thousand Barrels Of Oil Equivalent Per Day
Portfolio Pulse from Benzinga Newsdesk
Talos Energy projects its 2024 production to range between 87,000 and 93,000 barrels of oil equivalent per day, with over 70% being oil. This forecast includes contributions from QuarterNorth for only nine months. The company anticipates reducing its upstream capital expenditures to between $565 million and $595 million, down from its 2023 levels. Talos is also exploring strategic options for its Talos Low Carbon Solutions subsidiary and aims to significantly reduce its debt while investing in key upstream projects. With recent pricing, Talos targets a year-end 2024 leverage of 1.0x or less, planning to pay down approximately $400 million in debt through cash flow, not including any proceeds from TLCS.
February 29, 2024 | 7:10 am
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Talos Energy projects a 2024 production range of 87,000-93,000 barrels/day, with a focus on oil, and plans to reduce capital expenditures. The company is also evaluating strategic alternatives for its TLCS subsidiary and aims for significant debt reduction.
The announcement of a focused production range, reduced capital expenditures, and strategic evaluation of the TLCS subsidiary, combined with a strong commitment to debt reduction, is likely to be viewed positively by investors. These steps indicate a strategic approach to growth and financial health, potentially leading to increased investor confidence and a positive impact on TALO's stock price in the short term.
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