Talos closes $420M Shell deepwater asset acquisition in Gulf of America

TALOS ENERGY INC.

• Closed purchase of 50% WI and operatorship in Coulomb; 25% WI in BP-operated Na Kika and 4 fields for $420M net cash.
• Decommissioning security of ~$195.5M satisfied via surety bonds; 50% must be cash escrow from Dec 31, 2032.
• Credit facility borrowing base raised to $850M, LC sublimit to $300M; ~$49M in LCs to be issued at closing.
• Talos Ocho guarantees 8.000% notes due 2034 and 9.375% notes due 2031 via supplemental indentures.
• Acquired assets contribute from Sept 22 closing; updated FY2026 guidance with Q3 earnings on Nov 3, 2026.