Talos Energy Announces Results Of Latest Gulf Of Mexico Lease Sale

The Company has identified eight prospects on these blocks, with a possibility of an additional two. All but one of the identified prospects can potentially be a tieback to production facilities owned or accessible by Talos.

The Company has identified eight prospects on these blocks, with a possibility of an additional two. All but one of the identified prospects can potentially be a tieback to production facilities owned or accessible by Talos.

President and Chief Executive Officer Timothy S. Duncan commented, "We are happy to have a significant impact in the most recent federal lease sale so shortly after the completion of our combination with Stone. Our Exploration team has been focused on expanding our inventory around our production facilities, and the results of this lease sale reflect those efforts."

"We were the apparent high bidder on approximately 75,000 net acres covering multiple prospects, which represents approximately $71 per acre and highlights the competitive acreage cost in our basin. This lease sale result illustrates our strategy to focus on fixed-cost infrastructure-led exploration where we can achieve superior economies of scale and robust economics."

Even though Talos was the high bidder on these blocks and expects to be awarded these leases, the BOEM reserves the right not to award some or all of the blocks based on their minimum bidding criteria. Actual award results will be known in the coming months.

ABOUT TALOS ENERGY

Talos is a technically driven independent exploration and production company with operations in the United StatesGulf of Mexico and in the shallow waters off the coast of Mexico. Our focus in the United StatesGulf of Mexico is the exploration, acquisition, exploitation and development of shallow and deepwater assets near existing infrastructure. The shallow waters off the coast of Mexico provide us high impact exploration opportunities in an emerging basin. The Company's website is located at www.talosenergy.com.

INVESTOR RELATIONS CONTACT

Sergio Maiworm
+1.713.328.3008
[email protected]

Logo - https://mma.prnewswire.com/media/687245/Talos_Energy_Logo.jpg