Talos Energy Inc. has just released its fifth annual sustainability report for the 2023 calendar year, showcasing the company's dedication to transparency, emissions reduction efforts, and sustainability and governance improvements in its exploration and production business in the Gulf of Mexico.
The 2023 sustainability highlights include significant achievements such as the lowest serious injury and fatality (SIF) rate in Talos's history and a 48% lower combined total recordable incident rate (TRIR) than the Gulf of Mexico industry average. Additionally, the company achieved approximately a 13% reduction of absolute greenhouse gas (GHG) emissions compared to the 2022 baseline and a notable 56% reduction in scope 2 emissions intensity compared to the 2018 baseline. Talos also maintained zero hydrocarbon releases of greater than one barrel for the fifth consecutive year.
Furthermore, the company has declassified the board, with all Talos board of directors to be elected annually to serve one-year terms beginning in 2025. Talos received a rating of "A" in the MSCI ESG Ratings Assessment and was honored with the 2023 Hart Energy ESG Award for small-/mid-size public producers. Moreover, Talos has been recognized as a top workplace by the Houston Chronicle for 11 consecutive years.
These achievements reflect Talos Energy's commitment to sustainability and governance improvements, demonstrating its efforts to operate safely, efficiently, and in an environmentally friendly manner while meeting the world's energy needs.
Talos Energy, listed on the NYSE under the symbol TALO, is a technically driven, innovative, independent energy company with a focus on maximizing long-term value through its upstream exploration and production business in the United States Gulf of Mexico and offshore Mexico. The company leverages technical and offshore operational expertise to acquire, explore, and produce assets in key geological trends while maintaining a focus on safe and efficient operations, environmental responsibility, and community impact. Following these announcements, the company's shares moved 2.3%, and are now trading at a price of $11.46. If you want to know more, read the company's complete 8-K report here.
