Frontloaded CapEx: Talos spends 32% of yearly budget
By Richard Rostad, analyst, Oil & Gas 360

Talos Energy (ticker: TALO) announced first quarter results today, showing a net loss of $109.6 million, or ($2.02) per share.

Talos spent $155.6 million in the quarter, up from the $142.4 million the company spent in Q4. Talos reports its capital program is heavily front-loaded in 2019, as the company has already spent one third of its annual budget.

Talos produced an average of 42 MBOEPD in Q1 2019, down from the 53.4 MBOEPD the company produced in Q4. This drop is primarily due to maintenance-related shutdowns, though, and Talos output averaged over 60 MBOEPD last week.

Talos’ Phoenix complex, consisting of multiple nearby fiel...

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