Overview of Talos A Uniquely Positioned Energy Company Supplying and Serving the U.S. Gulf Coast TX LA Upstream Oil & Gas River Bend 190 MMBOE 66-71 MBOE/D Bayou CCS Pro Forma Proved Reserves(1) 2023E Production Bend CCS…
Key Statistics 66-71 75% 1.0 BN MBOE/D (2023E) Oil Production (2Q 2023) Pro Forma LTM EBITDA(1) 1.5 MM 1.7 BN 260 K Tons Gross Prospective Gross Upstream Acres Gross CCS Acres(3) Storage Resource 772 MM 1.0x 100 MM…
A Key Participant in the Gulf Coast Industrial Ecosystem Talos Is a Key Supplier and a Service Provider to a Massive Industrial Region U.S. Gulf Coast Industrial Complex U.S. Gulf of Mexico U.S. Gulf Coast Oil and Gas Carbon Capture…
Oil Demand Consistently Exceeds Forecasts Consensus Estimates Often Fail To Accurately Predict Increasing Demand Despite a diversifying Covid Demand Response energy mix, oil will 105,000 remain an important commodity for decades…
U.S. Gulf of Mexico Is a Global Emissions Intensity Leader 2020 Oil Production and GHG Intensity 60 HIGHEST Iran Iraq 50 Norway Russia Production GHG (CO2e kg/BBL) 40 All U.S. EMISSIONS U.S. Gulf of Mexico…
ESG Updates Committed to Exceptional Governance, Safety and Environmental Performance Talos MSCI Rating History Sustainability Highlights Recently received second upgrade within the last twelve months ESG Reporting Striving to…
Talos Reserves Underpin Compelling Equity Valuation Fundamental Valuation Implies Significant Equity Upside, Before Factoring in Key Catalysts Net PV-10 grossed up for ARO then deducted for 683 clarification 4,836 Current…
Upstream Strategy Focused On Full Life Cycle Opportunities Regional Seismic Talos utilizes seismic technology Database and M&A to build value through Value- High- Focused M&A drilling opportunities across Impact Exploration the full…
Full Life Cycle Case Study Ram Powell Recent Venice and Lime Rock Discoveries Expected to Materially Grow Production in Early 2024 Venice and Lime Rock Key Stats Ram Powell Growth Since Acquisition Expected First Oil 1Q 2024 Est.…
Sunspear Discovery Key Highlights Sunspear Log Successful discovery in July 2023 PL-4 Sand Preliminary post-drill analysis 260 ft. net vertical (Main Objective) thickness of oil pay (177 feet net across two targets): PL-4 - 197 ft.…
Zama Grupo Carso Transaction Overview Sale of Minority Stake in Talos Mexico Increases Visibility and Bolsters Value Proposition Highlights of Grupo Carso Transaction About Grupo Carso A diversified global conglomerate in Latin America…
Zama Development Plan and Summary Economics Key Details Zama Development Concept ZAMA 735 MMBOE gross estimated recoverable (NSAI)(1) PLATFORM B WATER DEPTH 585 FT. 180,000 BBL/D capacity from 2 fixed leg platforms 94% oil 26 - 29…
Complementary Upstream and CCS Skill Sets Leveraging Transferrable Core Skills to Drive Value Creation from Two Attractive Businesses UPSTREAM CROSSOVER SKILLS CARBON CAPTURE Acquire attractive assets to facilitate Subsurface and…
Developing an Industry-Leading Carbon Capture Business CCS Today 2023 Goals 2030 Vision One of the Largest CO2 Fortifying, Expanding and World-Class Storage Portfolios in the U.S. Advancing the Business CCS Franchise Three high-quality…
Significant Volume of U.S. Emissions Less Than 85/Ton Risked and Expected Capture Capacity Out to 2033 by Typical Cost Bracket Fertilizer Upstream LNG and Hydrogen Ammonia Cement Oil Steel Chemical Power 125 Production Oil and Gas…
Capitalizing on the Gulf Coasts Deep CCS Opportunities 1.7 BN Tons Gross Prospective Storage Resource Near Concentrated Emissions and Infrastructure 30 MTPA 25 MTPA Baton Rouge 80 MTPA 50 MTPA Texas Beaumont Louisiana Houston Lake…
Project Overview Harvest Bend CCS Emerging East Louisiana Hub Key Data Points Pointe Coupee Regional Brownfield Emissions (MTPA CO2) 80 MTPA Parish East Baton Rouge New Parish Footprint Gross Acres (1) 110,000 Baton Rouge Orleans…
Solid Credit Position With Ample Liquidity High Liquidity and Low Leverage Provides Increased Optionality Capitalization Summary (MM) Current Credit Ratings Tranche 2Q 2023 Call Date Maturity Agency Issuer Rating Rating Date RBL…
Capital Allocation Framework CAPEX Profile, Debt Repayment, and Shareholder Returns Commensurate With Prices Debt Shareholder Capital Program Repayment Returns Highly Increased Exploration 85/BBL WTI Rapid RBL paydown Potentially…
Share Buyback Program Update First-Ever Return of Capital Program 2Q 2023: Repurchased 1.5 MM shares at 13.89 per share YTD 2023: Repurchased 3.4 MM shares at 13.96 per share Represents 3% of shares outstanding retired 52.5 MM…
2023 Operational and Financial Guidance 1Q23A 2Q23A 2023E Oil (MMBBL) 4.1 4.8 17.6 18.9 Natural Gas (BCF) 7.1 6.6 29.3 31.6 Production NGL (MMBBL) 0.4 0.5 1.6 1.8 Total MMBOE 5.7 6.4 24.1 25.9 Avg. Daily Production (MBOE/D) 63.6…
APPENDIX 25
Talos Trades at a Discount to PV-10 of Flowing Production Talos Is Currently Valued Below PDP PV-10, After Deducting P&A Product Mix PF SEC Reserves SEC PV-10(1) 75 PV-10(1) (MMBOE) (MM) (MM) 23% Oil PDP 109 4,878 3,453 7% 190…
Hedge Book as of August 8, 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) July - September 2023 Fixed Swaps 14,348 73.92 July - September…
Non-GAAP Reconciliations Three Months Ended ( Thousands, Except per BOE) June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 Reconciliation of Net Income (Loss) to Adjusted EBITDA Net Income 13,677 89,860 2,750 250,465…
Non-GAAP Reconciliations ( thousands) June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 Reconciliation of Adjusted EBITDA to Adj. Free Cash Flow (before changes in working capital) Adjusted EBITDA 249,723 203,063 185,224…
Non-GAAP Reconciliations June 30, 2023 Reconciliation of Net Debt ( thousands) 12.00% Second-Priority Senior Secured Notes due January 2026 638,541 11.75% Senior Secured Second Lien Notes due April 2026 242,500 Bank Credit Facility…
Non-GAAP Reconciliations December 31, 2022 Reconciliation of PV-10 to Standardized Measure (Pro Forma for EnVen) ( thousands) Standardized Measure(1)(2) 5,994,973 Present value of future income taxes discounted at 10% 1,200,673 PV-10…
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