Talos Energy reports Q2 EPS 11c, consensus 20c

Reports Q2 revenue $367.2M, consensus $368.75M. Talos President and CEO Timothy S. Duncan commented: “We made great progress advancing key catalysts and had solid execution across our business in the second quarter. The ongoing integration of the EnVen transaction and our increased oil and liquids exposure underpinned another quarter with strong margins. We are excited about our discovery at Sunspear, a prospect and host facility acquired in the EnVen transaction. This success further demonstrates our belief that owning critical assets in the Gulf of Mexico can significantly enhance subsea drilling economics. We announced a transaction for our Talos Mexico subsidiary, welcoming Grupo Carso as a co-owner in a structure that establishes a baseline valuation for Zama but retains significant upside as we work to maximize the value of that asset. Finally, we are pleased to see the progress in our CCS business. We recently filed a Class VI permit application, which is an important milestone. We also continue to explore a capital raise for our Talos Low Carbon Solution platform and we’ll provide an update when appropriate.”