Talos Credit Agreement
Talos Energy (NYSE: TALO) is an independent, technical-powered exploration and production company focused on the safe and efficient maximization of cash flow and long-term value through its operations currently located in the Gulf of Mexico and off the coast of Mexico. As one of the largest independent producers in the Gulf of Mexico in the United States, we use decades of expertise in geology, geophysics and offshore operations to acquire, explore, exploit and develop assets in key geological trends in many offshore basins around the world. Our offshore operations in Mexico offer high-impact exploration opportunities in an emerging oil-rich basin. For more information, see www.talosenergy.com. View original content for multimedia download:www.prnewswire.com/news-releases/talos-energy-announces-second-quarter-2020-financial-and-operational-results-301107139.html Effective July 3, 2019, The company`s $850 million credit base was unanimously approved by participants in its syndicated credit facility. In connection with the regularly scheduled redefinition, Talos decided to increase bank bonds under the facility from $600 million to $850 million, adding three other lenders to the Syndicate. The next redefinition of the credit base is expected in the fall. Sergio Maiworm email@example.com New debt securities of Talos Energy and certain subsidiaries of the company are expected to be secured on a senior basis and, first, with a second priority, with substantially identical guarantees to the company`s existing priority obligations under its higher reserve-based revolving credit facility. Talos will host a profit conference tomorrow, Thursday, August 6, 2020 at 10:00 a.m. Eastern Time, which will be broadcast live on the Internet. Listeners can access the earnings conference via a web link on the company`s website via the Internet: www.talosenergy.com/investors.
The conference call can also be accessed at 1-888-348-8927 (toll-free in the United States), 1-855-669-9657 (Canada Free) or 1-412-902-4263 (International). Please dial about 15 minutes before the start of the conference call and request your participation in the Talos Energy call. A repeat of the call will be available one hour after the conference closes until August 13, 2020 and can be accessed at 1-877-344-7529 and under passcode 10146030. The company had a total debt of approximately $1.079 million, including $71.2 million related to hp-I leasing financing. The net indebtedness of the LTM Adjusted EBITDA (1) credit facility, as determined by the company`s credit contract, increased 1.4-fold. Credit Facility LTM Adjusted EBITDA (1) does not contain a pro forma effect of the recently announced acquisition of Castex Energy 2005 assets. Excluding the ILX/Castex contribution, LTM Adjusted EBITDA `1` net debt (1) was 1.7x. The coordination of consolidated results (loss) and Adjusted EBITDA (EBITDA) and Adjusted EBITDA is intended for management and investors (i) to provide additional valuation information, with certain adjustments, necessary or authorized elements for calculating compliance with commitments in accordance with our debt contracts, (ii) important complementary indicators for the operational performance of our company, (iii) additional criteria for evaluating our performance relative to our colleagues and iv) additional information for investors on certain important non-solvency elements and/or others that may not remain at the same level in the future. EBITDA and Adjusted EBITDA have restrictions as analytical tools and should not be considered in isolation or as a substitute for analyzing our results in accordance with GAAP, or as an alternative to net income (loss), operating income (loss) or any other level of financial performance expressed to measure.