revenue $472.3M, net income -$256.2M. Talos posts impairment, sells Mexico stake, as Iran conflict lifts oil past

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~1 min read

Key Changes

• high

  Recorded $145 million impairment of U.S. oil and gas properties in Q1 2026 due to ceiling test failure; no impairment in prior-year quarter, signaling material deterioration in asset carrying values.

  MD&A: Impairment verify on EDGAR →
• high

  Production fell 12.1 MBoepd to 88.8 MBoepd, driven by natural declines at Brutus and equipment failure at Galapagos, reversing prior-year's 21.3 MBoepd acquisition-driven growth.

  MD&A: Production verify on EDGAR →
• high

  Sold additional 30.1% stake in Talos Mexico for $49.7 million cash plus $33.1 million contingent on Zama first oil, reducing exposure to the development while generating near-term liquidity.

  MD&A: Mexico Equity Sale verify on EDGAR →