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Talos Energy Inc. (NYSE:TALO) announced Monday that its board of directors approved a supplemental payment for Gregory M. Babcock, who is serving as the company’s Interim Chief Financial Officer. According to a statement based on a Securities and Exchange Commission filing, Babcock will receive an additional $8,750 per month, retroactive to May 1, 2025, and continuing through July 31, 2025. The payment will also apply for each subsequent month he serves in the interim CFO role.
Babcock was appointed Interim Chief Financial Officer following the resignation of Sergio L. Maiworm, Jr., as previously disclosed by the company on May 19, 2025. Alongside his interim CFO duties, Babcock will continue in his existing position as Vice President and Chief Accounting Officer.
The supplemental payment is intended to compensate Babcock for the increased responsibilities during the transition period. Further details regarding Babcock’s appointment are available in the company’s earlier SEC filing dated May 19, 2025.
Talos Energy is based in Houston, Texas, and its common stock is listed on the New York Stock Exchange under the ticker TALO. The information in this article is based on a press release statement and related SEC filings.
In other recent news, Talos Energy reported a notable financial performance for the first quarter of 2025, surpassing earnings expectations. The company achieved an earnings per share (EPS) of $0.06, significantly exceeding the forecasted -$0.11, and reported revenue of $513.06 million, which was above the anticipated $496.85 million. Talos Energy also announced a new corporate strategy with a focus on offshore exploration and production, targeting $100 million in increased annualized cash flow by 2026 through operational improvements. The company plans to return up to 50% of annual free cash flow to shareholders while maintaining a long-term leverage target of 1.0x or lower. Additionally, Talos Energy appointed Gregory M. Babcock as Interim Chief Financial Officer following the departure of Sergio L. Maiworm Jr. KeyBanc maintained its Overweight rating on Talos Energy, despite describing a recent corporate strategy update as potentially underwhelming. The firm noted Talos Energy’s target of $100 million in annualized cash savings as an impressive element of the presentation.
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