Talos Energy was named as the apparent high bidder in the Outer Continental Shelf Federal Lease Sale 257 on ten deepwater blocks comprising 57,600 gross acres, or 36,720 net acres, for a net total consideration of approximately $4.8 million. Nine of the blocks are in close proximity to the Company's operated Green Canyon and Mississippi Canyon facilities, while the remaining block offsets the Company's recent Puma West discovery. Talos was the one of the most active bidders behind ExxonMobil, bp, Chevron, Oxy and Shell. The acquired prospect inventory includes both low risk subsea tie-backs and high impact exploration opportunities. Royalty rates and other key economic terms of the new leases are consistent with historical standards and existing regulations. Leases for all blocks remain subject to normal-course, formal award by the Department of the Interior.

Talos President and Chief Executive Officer Timothy S. Duncan commented: 
"After a brief pause in federal leasing, the increased level of bidding activity in this sale highlights the attractiveness of the basin and our industry's willingness to invest offshore in the responsible development of reliable energy sources. I'm proud of our team for achieving broad success with a high level of activity, adding acreage and prospects to our already robust portfolio at an attractive acquisition cost. The proximity of these prospects to our existing assets bolsters our infrastructure-led, near-field strategy, creating robust economics while also lowering the overall carbon intensity of our assets over time."

KeyFacts Energy: Talos Energy US Gulf of Mexico country profile