Spath John B. sold $1.5M of TALO

Seadrill said its rigs and drillships secured new contracts and extensions totaling about $200M. The West Vela drillship won a one-year Talos Energy deal worth about $161M, starting June 2027. Sevan Louisiana got a 45-day extension with Walter Oil & Gas, and West Capella extended with PTTEP for about $26M. Seadrill backlog is about $2.9B as of Aug 10, 2026.

Talos Energy’s Q2 2026 earnings call transcript says oil production averaged about 69,000 bpd and total production about 94,000 boe/d, both above guidance. The company reported adjusted EBITDA of about $402 million and record adjusted free cash flow of about $232 million. Talos also discussed increased 2026 production guidance and plans to close a Gulf of America bolt-on later in Q3.

Talos Energy agreed to acquire a 50% working interest in Repsol-operated offshore Mexico Block 29, which Talos says has more than 200 MMboe estimated gross recoverable resources. Talos will pay $30 million contingent on FID, provide up to $20 million cash carry for an exploration well, and reimburse some pre-closing costs. FID is planned for 2027, subject to SENER and antitrust approvals.

Talos Energy said its Q2 outlook excludes its pending Gulf of America bolt-on acquisition and the impact of a non-core gas-weighted shelf divestment. For Q3, it expects 61,000 to 65,000 bpd oil and 81,000 to 85,000 BOE/d. Cash was about $578M, liquidity $1.2B, leverage 0.5x. Talos issued $800M 8% notes due 2034 to redeem $625M 9% notes due 2029 and fund the deal, and expects updated guidance after closing later in Q3.

Talos Energy reported Q2 2026 revenue of $664.81M and net income of $149.67M, with average net daily production of 93.7 MBoe/d, and raised 2026 production guidance. The company also filed a $77.06M shelf registration for 5.4M shares tied to an ESOP and said it completed a multi-year buyback of 22,676,655 shares.

Talos Energy said it signed a definitive agreement to farm into offshore Mexico’s Block 29, operated by Repsol. Talos would gain a 50% working interest via a contingent $30 million payment at FID, up to $20 million cash carry on the next exploration well, and pre-closing cost reimbursements. Block 29 includes Polok and Chinwol, estimated at over 200 MMBoe gross recoverable resources, with partners targeting FID in 2027, subject to Mexican approvals.