Talos Energy Announces Share Repurchase Program Updates and Ongoing Debt Paydown
- Repurchased approximately
$43 million , or 3.8 million shares, of common stock at an average price of$11.26 per share during the second quarter 2024. Talos's Board of Directors also recently authorized an additional$150 million for Talos's existing common stock repurchase program. - Reduced borrowings by
$100 million under its Bank Credit Facility with$225 million remaining outstanding, bringing total debt to$1,475 million at the end of the second quarter 2024.
Talos President and Chief Executive Officer
Under the program, Talos management has the authority to repurchase common stock opportunistically in the open market from time to time, in privately negotiated transactions, or by such other means as will comply with applicable state and federal securities laws. The timing of any repurchases under the share repurchase program will depend on market conditions, contractual limitations, and other considerations. The program may be extended, modified, suspended or discontinued at any time, and does not obligate the Company to repurchase any dollar amount or number of shares.
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CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This communication may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words "will," "could," "believe," "anticipate," "intend," "estimate," "expect," "project," "forecast," "may," "objective," "plan" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.
We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, the timing and amount of any repurchases made pursuant to the share repurchase plan and repayment of debt; the ability to attain capital allocation goals; the uncertainty inherent in projecting free cash flow; and the other risks discussed in our Annual Report on Form 10-K for the year ended
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