Houston-based Gulf of Mexico producer Talos Energy Inc. (ticker: TALO) outlined the company’s strategy today in a new update. The company projects 2018 pro forma production sales volumes of 18 – 19.5 MMBOE, or an average daily production 49 – 53 MBOEPD. Capital expenditures are expected to be $430 – $450 million, funded by cash on hand and cash flows
Stone Energy Corporation (ticker: SGY) reported a net income of $17.1 million, or $0.85 per share for Q4 2017. For the full year of 2017, the company reported a net income of approximately $382.7 million. Net daily production during the fourth quarter of 2017 averaged approximately 17.6 MBOEPD, compared to net daily production of approximately 19.2 MBOEPD for Q3 2017.
Stone Energy Corporation (ticker: SGY) estimates that its 2018 capital expenditure budget will reach up to $212 million. The budget allocates 36% to exploration, 27% to development and 37% to P&A expenditures. Interim CEO and President James M. Trimble said, “We exited 2017 with solid operational results and a strong financial position, and with several prospective near-term, deep water drilling opportunities. We
New company name and NYSE ticker Talos Energy LLC and Stone Energy Corporation (ticker: SGY) announced today that their boards of directors have unanimously approved the combination of Talos and Stone in an all-stock transaction, creating an offshore-focused E&P company. The new company will be named Talos Energy, Inc. and the NYSE ticker will be “TALO.” Combined company highlights Pro
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