$TALO
TALOS ENERGY INC.

2021 Q4 Form 10-Q Financial Statement

#000095017021002857 Filed on November 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $382.0M $290.9M $135.1M
YoY Change 117.39% 115.27% -40.95%
Cost Of Revenue $75.75M $70.80M $62.30M
YoY Change 20.62% 13.64% 43.55%
Gross Profit $306.2M $220.1M $72.80M
YoY Change 171.22% 202.35% -60.73%
Gross Profit Margin 80.17% 75.66% 53.87%
Selling, General & Admin $19.06M $16.20M
YoY Change 17.64% -54.49%
% of Gross Profit 8.66% 22.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $119.9M $88.60M $80.55M
YoY Change 5.38% 9.99% -8.6%
% of Gross Profit 39.16% 40.25% 110.64%
Operating Expenses $144.1M $126.4M $108.3M
YoY Change 12.2% 16.71% -17.33%
Operating Profit $162.1M $92.34M -$37.06M
YoY Change -156.8% -349.17% -170.08%
Interest Expense -$46.58M $32.39M $24.12M
YoY Change -48.36% 34.26% 4.33%
% of Operating Profit -28.73% 35.08%
Other Income/Expense, Net $928.0K $4.475M $813.0K
YoY Change -68.0% 450.43% 43.39%
Pretax Income $78.66M -$17.06M -$80.25M
YoY Change -121.1% -78.75% -208.32%
Income Tax -$2.353M -$400.0K -$28.30M
% Of Pretax Income -2.99%
Net Earnings $81.01M -$16.69M -$52.00M
YoY Change -118.81% -67.9% -170.94%
Net Earnings / Revenue 21.21% -5.74% -38.48%
Basic Earnings Per Share -$0.20 -$0.73
Diluted Earnings Per Share $989.0K -$0.20 -$0.73
COMMON SHARES
Basic Shares Outstanding 81.88M 81.90K 71.29K
Diluted Shares Outstanding 81.90K 71.29K

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.82M $59.43M $71.10M
YoY Change 72.31% -16.41% -46.82%
Cash & Equivalents $69.85M $59.43M $32.38M
Short-Term Investments $967.0K $2.000K $38.70M
Other Short-Term Assets $1.674M $1.718M $1.802M
YoY Change -9.95% -4.66% -7.68%
Inventory
Prepaid Expenses $48.04M $46.02M $44.15M
Receivables $173.2M $111.5M $64.95M
Other Receivables $46.23M $35.09M $74.50M
Total Short-Term Assets $340.0M $253.7M $256.4M
YoY Change 37.43% -1.06% -22.93%
LONG-TERM ASSETS
Property, Plant & Equipment $2.389B $2.483B $2.814B
YoY Change -5.82% -11.75% 25.0%
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments $0.00 $49.00K $4.500M
YoY Change -100.0% -98.91% -42.31%
Other Assets $12.30M $21.99M $75.68M
YoY Change -49.31% -70.95% 2784.22%
Total Long-Term Assets $2.427B $2.532B $2.916B
YoY Change -6.2% -13.15% 27.94%
TOTAL ASSETS
Total Short-Term Assets $340.0M $253.7M $256.4M
Total Long-Term Assets $2.427B $2.532B $2.916B
Total Assets $2.767B $2.786B $3.172B
YoY Change -2.39% -12.17% 21.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.82M $106.1M $110.9M
YoY Change -18.17% -4.33% 15.83%
Accrued Expenses $130.5M $133.3M $172.7M
YoY Change -20.15% -22.86% 2.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.060M $6.060M $20.60M
YoY Change -70.58% 24.1%
Total Short-Term Liabilities $600.5M $635.8M $434.4M
YoY Change 34.19% 46.36% 5.61%
LONG-TERM LIABILITIES
Long-Term Debt $956.7M $978.8M $994.7M
YoY Change -2.93% -1.61% 42.68%
Other Long-Term Liabilities $45.01M $37.82M $56.47M
YoY Change -17.23% -33.03% -36.34%
Total Long-Term Liabilities $1.002B $1.017B $1.051B
YoY Change -3.67% -3.29% 33.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $600.5M $635.8M $434.4M
Total Long-Term Liabilities $1.002B $1.017B $1.051B
Total Liabilities $2.006B $2.112B $1.890B
YoY Change 5.15% 11.72% 22.96%
SHAREHOLDERS EQUITY
Retained Earnings -$917.0M -$998.0M -$303.3M
YoY Change 24.92% 229.07% 12.86%
Common Stock $1.678B $1.673B $1.586B
YoY Change 1.02% 5.49% 18.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $760.7M $674.6M $1.282B
YoY Change
Total Liabilities & Shareholders Equity $2.767B $2.786B $3.172B
YoY Change -2.39% -12.17% 21.46%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $81.01M -$16.69M -$52.00M
YoY Change -118.81% -67.9% -170.94%
Depreciation, Depletion And Amortization $119.9M $88.60M $80.55M
YoY Change 5.38% 9.99% -8.6%
Cash From Operating Activities $123.7M $88.55M $70.50M
YoY Change 210.9% 25.61% -52.94%
INVESTING ACTIVITIES
Capital Expenditures -$81.75M -$85.73M -$125.7M
YoY Change -1.03% -31.79% -12.28%
Acquisitions
YoY Change
Other Investing Activities $157.0K $214.0K -$7.900M
YoY Change -101.41% -102.71%
Cash From Investing Activities -$81.59M -$85.52M -$133.6M
YoY Change -12.92% -35.99% -6.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.72M -8.961M -12.40M
YoY Change -156.85% -27.73% 153.06%
NET CHANGE
Cash From Operating Activities 123.7M 88.55M 70.50M
Cash From Investing Activities -81.59M -85.52M -133.6M
Cash From Financing Activities -31.72M -8.961M -12.40M
Net Change In Cash 10.42M -5.927M -75.50M
YoY Change 448.68% -92.15% -5133.33%
FREE CASH FLOW
Cash From Operating Activities $123.7M $88.55M $70.50M
Capital Expenditures -$81.75M -$85.73M -$125.7M
Free Cash Flow $205.5M $174.3M $196.2M
YoY Change 67.88% -11.17% -33.06%

Facts In Submission

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GainLossFromPriceRiskManagementActivity
154653000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4475000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
813000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7916000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
139000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17055000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-80252000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-263246000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-57246000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-364000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-28252000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
718000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-22384000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16691000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-52000000
us-gaap Net Income Loss
NetIncomeLoss
-263964000
us-gaap Net Income Loss
NetIncomeLoss
-34862000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81901
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71286
us-gaap Share Based Compensation
ShareBasedCompensation
6321000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81721
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65134
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81901
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71286
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81721
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65134
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1294553000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4366000
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
36000
CY2020Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
35393000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-52000000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
1282276000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
686421000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4936000
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
42000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16691000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
674624000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1078277000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12135000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
827000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
156200000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
35393000
talo Debt Exchange Stock Issued During Period Value
DebtExchangeStockIssuedDuringPeriodValue
35960000
us-gaap Net Income Loss
NetIncomeLoss
-34862000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
1282276000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
926601000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15148000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3161000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0
us-gaap Net Income Loss
NetIncomeLoss
-263964000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
674624000
us-gaap Profit Loss
ProfitLoss
-263964000
us-gaap Profit Loss
ProfitLoss
-34862000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
334204000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
300281000
talo Impairment Of Oil And Gas Properties And Other Well Equipment
ImpairmentOfOilAndGasPropertiesAndOtherWellEquipment
0
talo Impairment Of Oil And Gas Properties And Other Well Equipment
ImpairmentOfOilAndGasPropertiesAndOtherWellEquipment
190000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10085000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-405604000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
154653000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-189252000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
141529000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-13225000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1644000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
58001000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
34502000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
677000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
287648000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-29078000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1729000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
16598000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-21835000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1591000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
23500000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
16395000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
31826000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
846000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
41418000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
262067000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
211580000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
280273000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5399000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
304879000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4826000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-212153000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-585152000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
600500000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0
us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
356803000
us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
4735000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
75000000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
300000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
315000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
26991000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1287000
talo Other Deferred Payments
OtherDeferredPayments
7921000
talo Other Deferred Payments
OtherDeferredPayments
11921000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15925000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12790000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3161000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
827000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50301000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
268440000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25194000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-54645000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
34233000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
87022000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
59427000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32377000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
72802000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
97517000
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
0
CY2020Q3 us-gaap Lease Cost
LeaseCost
26723000
us-gaap Lease Cost
LeaseCost
44542000
us-gaap Lease Cost
LeaseCost
56049000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
35960000
us-gaap Interest Paid Net
InterestPaidNet
64603000
us-gaap Interest Paid Net
InterestPaidNet
41188000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5748000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6855000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1651000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1793000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14541000
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21845000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
32393000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
41128000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
350000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
215000
us-gaap Variable Lease Cost
VariableLeaseCost
994000
us-gaap Variable Lease Cost
VariableLeaseCost
221000
CY2021Q3 us-gaap Lease Cost
LeaseCost
18342000
CY2020Q4 talo Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
124299000
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
25643000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21804000
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
20458000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
40222000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.23
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
442269000
talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
433000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
52000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
58001000
talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
340000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
44110000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
29440000
CY2021Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
457963000
CY2021Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
51488000
CY2021Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
406475000
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2749000
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3848000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9017000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
12153000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
702000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
815000
us-gaap Operating Lease Cost
OperatingLeaseCost
2138000
us-gaap Operating Lease Cost
OperatingLeaseCost
2547000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18554000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
18432000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20347000
CY2021Q3 talo Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
124299000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16781000
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
46101000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
62026000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9017000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
12153000
us-gaap Operating Lease Payments
OperatingLeasePayments
2946000
us-gaap Operating Lease Payments
OperatingLeasePayments
1666000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1020000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.003
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.003
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-22400000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
6876000
us-gaap Concentration Risk Credit Risk Financial Instruments
ConcentrationRiskCreditRiskFinancialInstruments
The Company is subject to the risk of loss on its financial instruments as a result of nonperformance by counterparties pursuant to the terms of their contractual obligations. The Company has entered into International Swaps and Derivative Association agreements with counterparties to mitigate this risk. The Company also maintains credit policies with regard to its counterparties to minimize overall credit risk. These policies require (i) the evaluation of potential counterparties’ financial condition to determine their credit worthiness; (ii) the regular monitoring of counterparties’ credit exposures; (iii) the use of contract language that affords the Company netting or set off opportunities to mitigate exposure risk; and (iv) potentially requiring counterparties to post cash collateral, parent guarantees, or letters of credit to minimize credit risk. The Company’s assets and liabilities from commodity price risk management activities at September 30, 2021 represent derivative instruments from nine counterparties; all of which are registered swap dealers that have an “investment grade” (minimum Standard & Poor’s rating of BBB- or better) credit rating, and eight of which are parties under the Company’s Bank Credit Facility. The Company enters into derivatives directly with these counterparties and, subject to the terms of the Company’s Bank Credit Facility, is not required to post collateral or other securities for credit risk in relation to the derivative activities.
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1056060000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
993314000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
71223000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
7802000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
984837000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
985512000
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
6060000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
978777000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
985512000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16691000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-52000000
us-gaap Net Income Loss
NetIncomeLoss
-263964000
us-gaap Net Income Loss
NetIncomeLoss
-34862000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81901
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71286
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4993000
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4386000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
15534000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
12053000
CY2021Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2380000
CY2020Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2039000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
7240000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
5732000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2613000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2347000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8294000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6321000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-400000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.021
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.021
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-28300000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.352
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.352
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81721
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65134
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81901
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71286
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81721
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65134
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1516
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5407
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2007
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4957

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