Talos Energy Inc. has announced updated operational and financial guidance for 2024, reflecting the earlier-than-expected closing of the QuarterNorth Energy Inc. acquisition.
The revised full-year 2024 guidance includes an increase in average daily production between 89.0 and 95.0 thousand barrels of oil equivalent per day, up from the previous range of 87.0 to 93.0 MBoe/d. This update incorporates approximately ten months of QuarterNorth contributions, along with planned downtime and risk provisions for unplanned downtime and weather-related events.
Additionally, Talos anticipates higher cash expenses for the full year, reflecting approximately ten months of QuarterNorth and a full twelve-month impact of the EnVen transaction compared to the previous year. The company expects around $15 million in expenses related to the Helix Producer I (“HP-I”) drydock and associated maintenance, alongside multiple deepwater workover projects aimed at increasing or reinstating production.
For the first quarter of 2024, Talos projects average daily production between 78.0 and 80.0 MBoe/d, an increase from the previous guidance range of 70.0 to 72.0 MBoe/d. This update includes the March impacts of approximately one month of QuarterNorth contribution, as well as planned downtime at the Tarantula facility and the HP-I dry-dock shut-in affecting production from the Katmai field.
Key highlights of Talos’s full-year 2024 operational and financial guidance include:
Production:
Oil: 23.4 to 24.7 million barrels
Natural Gas: 40.0 to 44.2 million cubic feet
NGL: 2.5 to 2.7 MMBbl
Total Production: 32.6 to 34.8 million barrels of oil equivalent
Cash Expenses:
Cash Operating Expenses: $510 to $530 million
Workovers: $45 to $55 million
G&A: $100 to $110 million
Capex:
Upstream Capital Expenditures: $570 to $600 million
P&A Expenditures: $90 to $100 million
Interest:
Interest Expense: $175 to $185 million
Talos’s updated guidance underscores its commitment to delivering operational excellence and maximizing value for shareholders amid evolving market conditions.
For further information visit : www.talosenergy.com
