Talos Energy Appoints Former Shell Executive As CEO: Retail Stays Bearish

Talos has been looking to permanently fill the CEO position since founder Tim Duncan quit in August last year.

Talos Energy (TALO) gained retail attention on Monday after naming veteran Shell executive Paul Goodfellow as its chief executive officer, effective March 1.

Goodfellow served over thirty years at the European oil major and led Shell’s global deepwater business, including the US Gulf of Mexico and Offshore Mexico, where Talos currently operates.

Talos had been looking to fill the CEO position permanently since founder Tim Duncan quit in August last year. Interim Chief Executive Joseph Mills had stepped down in January.

Last year, the company had briefly adopted a poison pill to thwart Mexican billionaire Carlos Slim’s firms from buying more than 25% of the oil and gas producer’s stock.

Talos had struck oil in the Katmai West #2 well in the U.S. Gulf of Mexico in January and expects to start production in the second quarter.

The firm’s shares were down 3.8%, tracking a pullback in crude oil prices after U.S. President Donald Trump paused import tariffs on Mexico for one month as the country agreed to deploy 10,000 troops at the border.  

Retail sentiment on Stocktwits remained in ‘bearish’ (35/100) territory, albeit with a lower score compared to Friday, while retail chatter was ‘low.’

The company had forecasted to produce an average of 89,000 to 95,000 barrels of oil equivalent per day in 2024.

Talos stock has fallen 5.3% over the past six months and 20.4% over the past year.

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