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Talos Trims 2020 Capex by $125MM; IDs Fourth Quarter 2019 Results
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Talos Energy Inc. reported that it will reduce its previously announced 2020 spending guidance by more than $125 million.
The company also reported its Q4 2019 results.
2020 PlanIn response to recent trends in oil and gas commodity markets, Talos is reducing its previous 2020 capex by $125 million to $395-420 million (down 24% from prior plans and down 14% YOY).
Talos expects to utilize the flexibility provided by its short-term rig contracts toward these cost cuts.
Talos plans to provide additional detail on the revised 2020 guidance in the coming weeks.
Q4 2019 ResultsKey fourth quarter of 2019 highlights:
Net Income of $0.3 million ($0.01 earnings per share - diluted) for the fourth quarter and Adjusted Net Income(1) of $71.6 million ($1.31 adjusted earnings per share - diluted) in…- ✓ Full news archive — U.S., Canada & international coverage
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