24 Feb 2021listing compliance notice● NeutralMajor
TALOS PETROLEUM LLC's exchange filed to remove a class of its securities from listing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
5 June 2018listing compliance notice▼ BadMajor
TALOS PETROLEUM LLC terminated the registration of a class of securities, ending its reporting obligation for them.
25 May 2018listing compliance notice● NeutralMajor
TALOS PETROLEUM LLC's exchange filed to remove a class of its securities from listing.
14 May 2018business combination● NeutralMajor
The Talos combination closed on May 10, 2018. Each Stone share became one share of the new parent, Talos Energy Inc. (NYSE: TALO), with Stone holders owning 37% and Talos stakeholders 63%. Stone survived as a wholly owned subsidiary and was converted into Talos Petroleum LLC; the $102 million of Talos Production notes was contributed for stock, Talos bridge loans and Stone's senior secured notes were exchanged for new 11.0% second-priority notes, and Stone's credit agreement was terminated with nothing borrowed. Stone's directors other than Trimble and Jaubert were removed, and Trimble, Beer and Jaubert were terminated as officers when Stone was converted to an LLC. Stone's warrants were assumed by the new parent, and Stone's 2017 incentive plan was terminated. This resolves the merger, exchange offer and supplemental indenture threads.
10 May 2018listing compliance notice● NeutralMajor
TALOS PETROLEUM LLC's exchange filed to remove a class of its securities from listing.
7 May 2018quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $81.4 million and net income of $18.3 million for the period ended 2018-03-31.
27 Apr 2018material agreement● NeutralMajor
On April 27, 2018 Stone agreed to buy a 100% working interest in the Ram Powell Unit (six Viosca Knoll blocks and the Ram Powell platform) from Shell, ExxonMobil and Anadarko for $34 million in cash, plus about $200 million of financial assurance instruments. The field averaged about 6,100 barrels of oil equivalent per day in 2017; closing was expected in early May 2018, and Talos gave the written consent that the pending merger agreement required. This adds a new Gulf of Mexico asset while the Talos merger is still pending.
24 Apr 2018listing compliance notice▼ Bad
TALOS PETROLEUM LLC withdrew a registration statement, abandoning the offering it covered.
9 Apr 2018security holder rights change● NeutralMajor
In the run-up to the Talos combination, enough holders of Stone's 7.5% senior secured notes due 2022 consented (by the April 2, 2018 early deadline) to strip most covenants and release the collateral securing them. Supplemental indentures were signed April 3, 2018 but take effect only just before the deal closes. The Talos issuers' exchange offer would swap these notes for new 11.0% second-priority senior secured notes and cash. Separately, the S-4 registration statement for the deal was declared effective April 9, 2018, a step toward the shareholder consent and closing. This continues the Talos merger thread.
5 Feb 2018substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc reported a TALOS PETROLEUM LLC shareholding of 7,209,575 shares (36.00% of votes) in a periodic institutional filing.
1 Feb 2018substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial TALOS PETROLEUM LLC shareholding (5.80% of votes).
30 Jan 2018quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $76.3 million and net income of $17.1 million for the period ended 2017-12-31.
16 Jan 2018director interest notice● Neutral
TALOS PETROLEUM LLC Sr. VP, Gen Counsel & Sec Lisa S Jaubert had 97 shares withheld for taxes on vesting stock.
16 Jan 2018director interest notice● Neutral
TALOS PETROLEUM LLC EVP and CFO Kenneth H Beer had 167 shares withheld for taxes on vesting stock.
16 Jan 2018director interest notice● Neutral
TALOS PETROLEUM LLC VP -Planning, Mktg & Midstream Thomas L Messonnier had 26 shares withheld for taxes on vesting stock.
16 Jan 2018director interest notice● Neutral
TALOS PETROLEUM LLC Sr VP-HR, Communication &Admin Florence M Ziegler had 34 shares withheld for taxes on vesting stock.
16 Jan 2018director interest notice● Neutral
TALOS PETROLEUM LLC Chief Operating Officer Keith Seilhan had 87 shares withheld for taxes on vesting stock.
21 Nov 2017business combination● NeutralMajor
On Nov 21, 2017 Stone agreed to combine in an all-stock deal with Talos Energy LLC, which is controlled by Apollo and Riverstone funds, through a new holding company (Sailfish, to be renamed Talos Energy, Inc.). After closing, Apollo and Riverstone funds would hold 63% and Stone's former stockholders 37%. Each Stone share converts to one share of the new company, and Timothy S. Duncan becomes CEO. The deal also includes debt exchanges for Talos bridge loans and for Stone's 7.5% senior secured notes due 2022. It needs a majority of Stone shareholders' approval, antitrust and other approvals, with a May 31, 2018 end date, and termination fees of $24 million or $43 million apply in certain cases. This is a new direction after the 2017 emergence from bankruptcy.
1 Nov 2017quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $79.5 million and net income of $1.3 million for the period ended 2017-09-30.
1 Nov 2017quarterly activities report● Neutral
TALOS PETROLEUM LLC reported quarterly revenue of $79.5 million and net income of $1.3 million for the period ended 2017-09-30.
7 Aug 2017quarterly activities report▼ Bad
TALOS PETROLEUM LLC reported quarterly revenue of $76.7 million and a net loss of $6.5 million for the period ended 2017-06-30.
7 Aug 2017quarterly activities report▼ Bad
TALOS PETROLEUM LLC reported quarterly revenue of $76.7 million and a net loss of $6.5 million for the period ended 2017-06-30.
9 June 2017drilling progress report● NeutralMajor
Drilling began June 3, 2017 on the Rampart Deep prospect in Mississippi Canyon Block 116, operated by Deep Gulf Energy III. Stone holds a 40% working interest after selling down part of its position (partners: Deep Gulf 30%, Ridgewood-managed entities 30%). The company would tie it to its 100%-owned Pompano platform if successful, and expects about two months to drill. Stone also cut about 20% of its workforce (plus a smaller cut in April 2017), with a pre-tax charge of about $5-6 million in Q2 2017 and a targeted cash SG&A of about $11-12 million a quarter. James M. Trimble is now interim CEO and President, following the departure of the previous CEO.
12 May 2017securities registration● Neutral
TALOS PETROLEUM LLC registered a securities offering with the SEC using its shelf eligibility.
10 Mar 2017substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr, Franklin Advisers, Inc disclosed a new substantial TALOS PETROLEUM LLC shareholding (36.10% of votes).
7 Mar 2017listing compliance notice▲ GoodMajor
the New York Stock Exchange certified TALOS PETROLEUM LLC's securities for listing, clearing them to begin trading.
7 Mar 2017director interest notice● Neutral
TALOS PETROLEUM LLC SR. VP -EXPL & BUS DEVELOPMENT John J Leonard sold 814 shares at $21.11.
3 Mar 2017director interest notice● Neutral
David N Weinstein became a TALOS PETROLEUM LLC director and company insider (initial ownership filing).
3 Mar 2017director interest notice● Neutral
Neal P Goldman became a TALOS PETROLEUM LLC director and company insider (initial ownership filing).
3 Mar 2017director interest notice● Neutral
TALOS PETROLEUM LLC director David I Rainey received a stock option grant for 9,811 shares.