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HOUSTON - Talos Energy Inc. (NYSE:TALO) shares jumped 6.3% in after-hours trading after the offshore oil and gas producer reported a surprise profit and better-than-expected revenue for the first quarter.
The Houston-based company posted adjusted earnings of $0.06 per share, compared to analysts’ expectations for a loss of $0.11 per share. Revenue rose to $513.1 million, topping the consensus estimate of $496.9 million.
Talos said production averaged 100.9 thousand barrels of oil equivalent per day in Q1, up from 94.8 thousand in the year-ago quarter. Oil accounted for 68% of total production.
"I’m excited to be a part of Talos and pleased to report our fifth consecutive quarter of record production, achieving approximately 101 MBoe/d in the first quarter 2025," said Talos President and CEO Paul Goodfellow. "This milestone was accompanied by strong Adjusted EBITDA and Adjusted Free Cash Flow, highlighting our disciplined focus on execution."
The company generated adjusted free cash flow of $194.5 million in the quarter. Talos maintained a strong balance sheet with $203 million in cash and an undrawn credit facility at quarter-end.
For the second quarter, Talos expects production to range between 92,000 to 96,000 barrels of oil equivalent per day. The company reiterated its full-year 2025 production guidance of 90,000 to 95,000 barrels of oil equivalent per day.
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