Talos Energy Second Quarter Financial and Operational Highlights:
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Production of 52.4 thousand barrels of oil equivalent per day ("MBoe/d"), of which 69% was oil and 76% was liquids. Production for the quarter was impacted by 14.4 MBoe/d of production deferrals associated with voluntary shut-ins, accelerated maintenance, Tropical Storm Cristobal and other miscellaneous items.
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Net Loss of $140.6 million in the quarter, or $2.14 loss per diluted share, and Adjusted Net Loss(1) in the quarter of $29.4 million, or $0.45 adjusted loss per diluted share. Year-to-date, Net Income of $17.1 million, or $0.28 per diluted share, and year-to-date Adjusted Net Loss(1) of $13.8 million, or $0.22 per diluted share.
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Adjusted EBITDA(1) of $97.5 million for the second quarter and Adjusted EBITDA(1) of $245.2 million for the first half of the year.
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Capital expenditures, inclusive of plugging and abandonment costs, of $129.1 million during the quarter. Year-to-date capital expenditures were $202.3 million.
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As of June 30, 2020, proved reserves for the Company totaled 189.5 MMBoe with a PV-10 of $2.8 billion. Additionally, probable reserves were 79.7 MMBoe with a PV-10 of $1.3 billion. Figures are presented pro forma for the recently closed acquisition.
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Eliminated $39.2 million, or approximately 10% of the outstanding balance, of the Company's 11.00% Second Lien Notes.
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On August 5, 2020, closed the acquisition of additional working interests in 16 selected producing properties from affiliates of Castex 2005.
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As of June 30, 2020, maintained a leverage position of 1.4x Net Debt to Credit Facility LTM Adjusted EBITDA(1).
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Over $400.0 million of liquidity from $107.9 million in cash and availability under the Company's $985.0 million borrowing base.
Source: Talos Energy
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