A Unique, Catalyst-Rich Energy Company Talos Energy is an innovative, industry-leading energy company Conventional offshore focus focused on Exploration & Production and Carbon Capture & Sequestration. Carbon capture leadership We are…
Building the Energy Company of Tomorrow GROWTH ADVANCEMENT A COMPLETE IN UPSTREAM OF CCS ENERGY COMPANY Providing safe and Executing large-scale Producing the energy needed responsible conventional decarbonization solutions today and…
Diverse Asset Base Driving Growth & Cash Flow Generation 2023 Exploitation Emerging CCS River Bend Focus Area Opportunities CCS Site Bayou Bend CCS Site Pompano Petronius Amberjack Freeport LNG Ram Powell CCS Site Cognac…
2022 A Foundational Year For Long-Term Value Creation 2022 Achievements Robust Adjusted Free Cash Flow; 13% Yield Best credit profile in Company history, 2022 was another transformative including 0.7x leverage at year end year for…
Significant Potential Value Beyond Existing Production Talos Currently Trades at a Discount to PV-10 of Flowing Production (PDP) PF SEC Reserves (MMBoe) SEC PV-10 (MM) 75 PV-10 (MM) Valuation at 75 / 3.50 PDP 109 4,878 3,453…
Latest ESG Highlights REPORTING ENVIRONMENTAL Scope 1 Intensity Reduction of 9% Y/Y, 27% Increased alignment with UN SDGs, GRI, and SASB from 2018 baseline First-ever Climate Risk & Opportunities report aligned Scope 1 & 2 Intensity…
Strategy Focused on Full Life Cycle Opportunities Regional Seismic Database Talos utilizes seismic technology and M&A to build value through High- Value- Focused M&A drilling opportunities across Impact Exploration the full asset…
Expansive Deepwater Acreage Position Diverse Leasehold Spanning Numerous Prolific and Emerging Geologic Trends Deepwater Footprint 29% 1.5 MM Deepwater Acres Shelf & Other Diverse Shelf & Gulf Coast Footprint 71% Long-Term…
Significant Infrastructure Footprint Talos-Operated Platforms Anchor a Proven Infrastructure-Led Strategy Phoenix Complex Green Canyon 18 Pompano Ram Powell Amberjack Depth: 2,200 ft Depth: 750 ft Depth: 1,300 ft Depth: 3,200 ft…
Full Life Cycle Case Study Ram Powell Taloss Strategy Optimizes Existing Infrastructure Through Revitalization, Commercial Deal-Making and New Exploration Ram Powell Production Evolution (2010-Today) 3) 3rd Party PHAs 2) Base…
Lime Rock & Venice Discoveries Key Highlights Ram Powell Exploitation targets drilled in 4Q 2022 Lime Rock / Venice Discoveries Discovered 20 30 MMBoe gross combined recoverable resources Venice Expected online by 1Q 2024 at a…
Unique Portfolio of Catalysts Access to major catalysts is a unique differentiator for Talos and provides the basis for exceptional long-term value creation. Upstream Growth Natural Acquiror Carbon Capture 14
Large Inventory Supporting Years of Prospective Growth Talos Constantly Evolves Opportunities Across Regions, Risk Categories and Scale 14 1 Billion Boe of net unrisked Green Canyon Projects By 111 49 resource exposure Core Area…
Balanced Drilling Program To Deliver Best Results Current Rig Programs Will Underpin 8-9% Compounded Annual Growth Through 2026 Results / 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Prospect Category Facility Timing 22 23 23 23 23 24 24 24 24 25…
Positioned for Accretive M&A and Business Development Scale and Full Life Cycle Strategy Sets Talos as a Logical Acquiror and/or Partner Talos is one of the largest offshore independents in the GOM Established reputation with Majors,…
EnVen Transaction Overview Expands Gulf of Mexico Operational Scale and Asset Diversity on Attractive Financial Terms Key Statistics Strategic Merits 23 Increases Scale and Diversity MBOE/D Accretive to Talos Shareholders 2022A…
Upstream Skill Sets Required For Carbon Capture Success Talos Expertise Is Directly Transferrable to CCS Sophisticated deepwater operations require a wide array of technical, commercial and Key Skill Sets administrative expertise…
U.S. Gulf Coast Is a Huge Addressable Market for CCS Emissions Concentrated Along Best-in-Class Storage Capacity and Infrastructure 30+ MTPA 25 MTPA Baton Rouge 80 MTPA 50+ MTPA Texas Beaumont Louisiana Houston Lake Charles New…
Leading Industrial Decarbonization Sequestration Volumes Will Far Exceed Talos Upstream Emissions PERMANENTLY SEQUESTERED CO2 (MMTPA) 25.0+ At full scale, Talos CCS will permanently sequester 60x the annual emissions of its…
2023 CCS Goals Fortifying, Expanding and Advancing the Business Execute emitter offtake contracts Enhance and grow existing portfolio Expand partnerships in existing projects Progress permitting FEED workstreams Develop…
Largest Carbon Sequestration Footprint in the U.S. 1.6 Billion Tons Of Capacity Across 250,000 Acres In Key Industrial Epicenters 3 4 River Bend (30%) Gulf of 2 Bayou Bend Mexico (25%) Freeport LNG (50%) Coastal Bend…
Bayou Bend One of the Largest CCS Projects in the U.S. The Dominant Southeast Ideal Positioning ORANGE COUNTY Texas CO2 Solution Between Major Beaumont Added 100,000 gross acres Industrial Hubs Texas with recent lease…
Coastal Bend CCS Emerging Hub Project at the Port of Corpus Christi Key Data Points Recent Updates Region Onshore Corpus Christi Lessor Port of Corpus Christi Recently executed 13,000 acre Acreage 13,000 lease, securing…
Strongest Credit Position in Company History High Liquidity and Low Leverage Provides Increased Optionality Capitalization Summary (MM) Recent Credit Updates Tranche YE 2022 PF EnVen Maturity Upgraded by S&P and Fitch(1) RBL Facility…
Increasing Public Float Legacy Private Equity Owners Hold a Declining Percentage of Talos Despite Recent M&A Talos shares have largely moved to Mutual and Index funds from Hedge Funds over the prior 12 months Trading liquidity has…
2023 Operational and Financial Guidance Production 2022A 2023E 73% oil, 80% liquids Oil (MMBbl) 14.6 19.2 20.3 Talos elected to remove gas-weighted Lisbon project, reducing near-term production rates Natural Gas (Bcf) 32.2 32.2…
Investments Driving Growth 2023 Upstream And CCS Investments Are Focused On Long-Term Catalysts Completion and hook-up of Lime Rock, Venice discoveries Upstream Open water rig program evaluating multiple exploitation prospects…
Thoughtful Allocation Framework For Adj. Free Cash Flow Priorities For 2023 Appropriately Balance Growth, Debt Reduction And Shareholder Returns Adjusted Free Cash Flow Generation Through 2026 2023 Adjusted Free Cash Flow Priorities…
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APPENDIX 32
Inventory Overview Generic Project Categorization Talos prioritizes a balance of project risk, impact, cost and cycle time in developing its capital planning for future periods As project risk increases, Talos generally targets a lower…
Lime Rock Discovery Upper Miocene Exploitation Discovery Key Data Points Seismic Overview Lime Rock Spud Date 4Q 2022 Wellbore Expected First Oil 1Q 2024 Est. Resource (Gross MMBOE) 10 15 (48% Oil) M66 Sand 78 net pay Est. Initial…
Venice Discovery Exploitation Discovery Identified via Advanced Seismic Analysis Key Data Points Seismic Overview RAM POWELL Spud Date 4Q 2022 Venice Wellbore FIELD Expected First Oil 1Q 2024 Est. Resource (Gross MMBOE) 10 15 (34%…
Mount Hunter Development Well Targeting Attic Proved Reserves in a Prolific Miocene Sand Key Data Points Seismic Overview Mt. Hunter Providence Spud Date 3Q 2022 Wellbore Wellbore First Oil 2Q 2023 Est. Resource (Gross MMBoe) 56…
Rigolets Miocene Exploitation Prospect Targeting Multiple Amplitude Supported Horizons Key Data Points Seismic Cross Section Spud Date 2Q 2023 Rigolets Wellbore First Oil 2H 2024 Est. Resource (Gross MMBoe) 15 30 M85 Oil Est.…
Pancheron (Camellia) Potentially High-Impact Exploration Target Added Through Recent Business Development Key Data Points Regional Asset Map Spud Date 1H 2023 First Oil Not Yet Disclosed Tahiti Holstein Est. Resource (Gross MMBOE)…
Sunspear Pliocene Exploitation Opportunity Targeting Multiple Amplitude Supported Horizons Key Data Points PL-4 Sand Map Spud Date 4Q 2023 First Oil TBD Est. Resource (Gross MMBoe) 12 18 PSL Est. Initial Rate (Gross MBOE/D) 8 10…
Hedge Book as of February 28, 2023 Instrument Type Avg. Daily Volume W.A. Swap W.A. Sub-Floor W.A. Floor W.A. Ceiling Crude WTI (Bbls) (Per Bbl) (Per Bbl) (Per Bbl) (Per Bbl) Fixed Swaps 27,311 70.00 --- --- --- Jan. Mar. 2023 Collar…
Non-GAAP Reconciliations Three Months Ended ( thousands, except per Boe) December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 Reconciliation of net income (loss) to Adjusted EBITDA: Net Income (loss) 2,750 250,465 195,141…
Non-GAAP Reconciliations ( thousands) December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 Reconciliation of Adjusted EBITDA to Adjusted Free Cash Flow (before changes in working capital) Adjusted EBITDA 185,224 197,560…
Non-GAAP Reconciliations December 31, 2022 Reconciliation of Net Debt ( thousands) 12.00% Second-Priority Senior Secured Notes due January 2026 638,541 Bank Credit Facility matures November 2024 Total Debt 638,541 Less: Cash and…
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