Talos Energy Inc. is announcing that Tim Duncan has stepped down from his role as President and Chief Executive Officer, effective August 29, 2024. Joseph A. Mills, who has served on the Company's Board since March 2024, will serve as interim President and Chief Executive Officer until a successor is in place.

The Company's Board of Directors has initiated a search for a successor in partnership with a leading executive search firm.

"On behalf of the Board and the entire Talos team, I want to express our gratitude to Tim for his invaluable contributions to the Company," said Neal P. Goldman, Chairman of Talos' Board of Directors. "Currently, Talos stands as a leading exploration & production company in the Gulf of Mexico, backed by a dedicated team committed to safely and efficiently driving long-term value."

Goldman added: "We have complete confidence in Joe's capabilities to carry out Talos' strategy as we search for a new CEO to lead Talos into the future and unlock further value. Mills brings a wealth of industry experience and knowledge, boasting over 42 years in senior leadership positions and serving on the boards of both public and private companies in the oil and gas sector."

Joseph A. Mills. (Image credit: Talos Energy)

"I'm honored to step in as interim CEO of Talos," said Mills. "The Board has played an active role guiding and evaluating our strategic approach, and I am confident about Talos's direction and strategy. Our commitment remains firm in delivering compelling value for our shareholders. I look forward to working closely with the Board and leadership team, drawing on their extensive knowledge to advance our strategic priorities during this transitional period."

Talos reaffirms its third quarter 2024 production guidance and operational and financial guidance for the full year 2024. As previously reported, for the third quarter 2024, Talos expects average daily production of 92.0–97.0 thousand barrels of oil equivalent per day.