Talos cancels analyst and investor event over coronavirus fears

Houston-based oil and gas company Talos Energy has decided to cancel its analyst and investor event, which was set to be held later this week in New York, over coronavirus fears. 

Illustration. Source: Talos

Talos announced on Monday that it was cancelling its Analyst and Investor Event previously scheduled for March 12, 2020, in New York City due to health and safety concerns for the potential spread of COVID-19 and the associated state of emergency declaration in New York.

The company said it was evaluating potential alternative future dates for the event.

“At Talos, the health and safety of our employees, the communities we operate in and all of our stakeholders is paramount. We apologize for any inconvenience the postponement may cause, but believe it is the best and most prudent decision for everyone concerned,” Talos said.

Talos will hold its regularly-scheduled earnings conference call on Thursday, March 12, 2020 at 10:00 AM Eastern Time.

Talos is not the only company to take measures of precaution over the coronavirus outbreak. It is also worth reminding that Italy’s Saipem in late February advised its employees to stay at home. Saipem has also canceled and reduced to the minimum all missions to and from the risk areas abroad.

The coronavirus outbreak has had a negative impact on the global oil demand pushing OPEC to recommend even deeper oil production cuts after a meeting in Vienna last week.

However, as reported by Reuters last Friday, Russia refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.

As a result, CNN reported on Monday, oil prices suffered a historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia.

Offshore Energy Today Staff

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