$TALO
TALOS ENERGY INC.

2022 Q3 Form 10-Q Financial Statement

#000095017022014894 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $377.1M $519.1M $413.6M
YoY Change 29.64% 70.88% 54.95%
Cost Of Revenue $82.72M $88.45M $60.67M
YoY Change 16.83% 21.22% -10.13%
Gross Profit $294.4M $430.6M $352.9M
YoY Change 33.76% 86.58% 76.01%
Gross Profit Margin 78.07% 82.96% 85.33%
Selling, General & Admin $22.05M $27.94M $49.06M
YoY Change 15.71% 82.65% 181.95%
% of Gross Profit 7.49% 6.49% 13.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.32M $104.5M $98.34M
YoY Change 4.21% 4.68% -3.26%
% of Gross Profit 31.36% 24.27% 27.87%
Operating Expenses $127.2M $159.7M $161.9M
YoY Change 0.62% 19.71% 20.83%
Operating Profit $164.0M $276.0M $217.5M
YoY Change 77.59% 195.67% 236.58%
Interest Expense $29.27M $30.78M $31.49M
YoY Change -9.65% -8.32% -7.59%
% of Operating Profit 17.85% 11.15% 14.48%
Other Income/Expense, Net $692.0K $3.165M $28.13M
YoY Change -84.54% 103.01% -301.68%
Pretax Income $250.6M $197.7M -$66.91M
YoY Change -1569.28% -257.84% -44.66%
Income Tax $100.0K $2.607M -$500.0K
% Of Pretax Income 0.04% 1.32%
Net Earnings $250.5M $195.1M -$66.44M
YoY Change -1600.6% -255.14% -45.31%
Net Earnings / Revenue 66.41% 37.59% -16.07%
Basic Earnings Per Share $3.03 $2.36 -$0.81
Diluted Earnings Per Share $2.99 $2.33 -$0.81
COMMON SHARES
Basic Shares Outstanding 82.54M 82.57M 82.07K
Diluted Shares Outstanding 83.82M 83.67M 82.07K

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.88M $112.2M $78.35M
YoY Change 54.6% 71.53% 17.46%
Cash & Equivalents $64.49M $108.5M $78.35M
Short-Term Investments $27.39M $3.686M $0.00
Other Short-Term Assets $1.894M $4.244M $1.808M
YoY Change 10.24% 143.63% -94.76%
Inventory
Prepaid Expenses $76.40M $76.91M $43.40M
Receivables $150.1M $244.9M $242.3M
Other Receivables $51.71M $37.28M $35.94M
Total Short-Term Assets $372.0M $475.5M $401.8M
YoY Change 46.61% 56.3% 37.6%
LONG-TERM ASSETS
Property, Plant & Equipment $2.380B $2.352B $2.371B
YoY Change -4.16% -5.83% -5.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.121M $1.131M $2.665M
YoY Change 4228.57% 2592.86% 26.9%
Other Assets $6.936M $8.300M $11.78M
YoY Change -68.46% -63.12% -71.62%
Total Long-Term Assets $2.441B $2.388B $2.409B
YoY Change -3.6% -6.29% -5.46%
TOTAL ASSETS
Total Short-Term Assets $372.0M $475.5M $401.8M
Total Long-Term Assets $2.441B $2.388B $2.409B
Total Assets $2.813B $2.863B $2.810B
YoY Change 0.98% 0.38% -1.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $110.0M $102.4M $91.16M
YoY Change 3.64% -7.86% 25.22%
Accrued Expenses $189.7M $152.4M $126.8M
YoY Change 42.38% -5.11% -38.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $6.060M
YoY Change -100.0% -100.0% -73.65%
Total Short-Term Liabilities $556.3M $701.3M $705.6M
YoY Change -12.5% 3.94% 46.33%
LONG-TERM LIABILITIES
Long-Term Debt $652.1M $788.5M $925.1M
YoY Change -33.38% -19.26% -11.84%
Other Long-Term Liabilities $39.92M $41.10M $35.58M
YoY Change 5.54% -3.41% -92.38%
Total Long-Term Liabilities $692.0M $829.6M $960.7M
YoY Change -31.93% -18.6% -8.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $556.3M $701.3M $705.6M
Total Long-Term Liabilities $692.0M $829.6M $960.7M
Total Liabilities $1.658B $1.966B $2.115B
YoY Change -21.48% -9.24% 4.08%
SHAREHOLDERS EQUITY
Retained Earnings -$537.8M -$788.3M -$983.4M
YoY Change -46.11% -19.67%
Common Stock $1.693B $1.686B $1.679B
YoY Change 1.23% 1.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.155B $897.5M $695.1M
YoY Change
Total Liabilities & Shareholders Equity $2.813B $2.863B $2.810B
YoY Change 0.98% 0.38% -1.03%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $250.5M $195.1M -$66.44M
YoY Change -1600.6% -255.14% -45.31%
Depreciation, Depletion And Amortization $92.32M $104.5M $98.34M
YoY Change 4.21% 4.68% -3.26%
Cash From Operating Activities $184.6M $240.8M $113.6M
YoY Change 108.42% 82.26% 69.68%
INVESTING ACTIVITIES
Capital Expenditures -$81.51M -$74.10M -$53.98M
YoY Change -4.93% 21.19% -16.57%
Acquisitions $3.500M
YoY Change -57.94%
Other Investing Activities $93.00K $16.25M -$5.404M
YoY Change -56.54% 125.3% -32.45%
Cash From Investing Activities -$81.42M -$57.85M -$59.38M
YoY Change -4.8% 7.27% -18.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -147.1M -152.8M -45.73M
YoY Change 1541.97% 96.26% -225.2%
NET CHANGE
Cash From Operating Activities 184.6M 240.8M 113.6M
Cash From Investing Activities -81.42M -57.85M -59.38M
Cash From Financing Activities -147.1M -152.8M -45.73M
Net Change In Cash -43.99M 30.13M 8.496M
YoY Change 642.21% 9287.23% -72.37%
FREE CASH FLOW
Cash From Operating Activities $184.6M $240.8M $113.6M
Capital Expenditures -$81.51M -$74.10M -$53.98M
Free Cash Flow $266.1M $314.9M $167.6M
YoY Change 52.66% 62.94% 27.29%

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30776000
CY2021Q2 us-gaap Interest Expense
InterestExpense
33570000
us-gaap Interest Expense
InterestExpense
62266000
us-gaap Interest Expense
InterestExpense
67646000
CY2022Q2 us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-64094000
CY2021Q2 us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-186617000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-345313000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-324125000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13466000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13608000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3165000
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1559000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
31299000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-12391000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
197748000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-125284000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
130835000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-246191000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2607000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
498000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2135000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1082000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
195141000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-125782000
us-gaap Net Income Loss
NetIncomeLoss
128700000
us-gaap Net Income Loss
NetIncomeLoss
-247273000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.36
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.03
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.33
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.03
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82566000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81823000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82320000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-125782000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
686421000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83665000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
695125000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2250000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81823000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83247000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81630000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
807154000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
125846000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
354365000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3500000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6018000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
969000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7244000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
195141000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
897510000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
926601000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10212000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3119000
us-gaap Net Income Loss
NetIncomeLoss
-247273000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
686421000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
760653000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12633000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4476000
us-gaap Net Income Loss
NetIncomeLoss
128700000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
897510000
us-gaap Profit Loss
ProfitLoss
128700000
us-gaap Profit Loss
ProfitLoss
-247273000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
232072000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
231940000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6952000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6934000
us-gaap Share Based Compensation
ShareBasedCompensation
7367000
us-gaap Share Based Compensation
ShareBasedCompensation
5681000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-345313000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-324125000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-287321000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-117618000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13608000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-13225000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
39768000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
36329000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-390000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
853000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
57394000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12633000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
31435000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
19409000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
23360000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3776000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
33284000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
48597000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-6453000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
1069000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5399000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1597000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
199094000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
128082000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
15000000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5587000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5714000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1846000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-117235000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-126633000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
600500000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
6060000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
356803000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
35000000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
210000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
240000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
129000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
25981000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5575000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12836000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
10361000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4476000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3120000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-198501000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-41340000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
38629000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31121000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
69852000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
34233000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
108481000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65354000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
47354000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
95724000
us-gaap Interest Paid Net
InterestPaidNet
47570000
us-gaap Interest Paid Net
InterestPaidNet
19006000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-11-14
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.56
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
124299000
CY2022Q2 us-gaap Lease Cost
LeaseCost
8757000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
124299000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.03
CY2021Q2 us-gaap Lease Cost
LeaseCost
16146000
us-gaap Lease Cost
LeaseCost
17509000
us-gaap Lease Cost
LeaseCost
26200000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
434006000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
54000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
39768000
talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
-1572000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
29221000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
30490000
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
452431000
CY2022Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
55542000
CY2022Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
396889000
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1734000
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3012000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3793000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6268000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
567000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
720000
us-gaap Operating Lease Cost
OperatingLeaseCost
1135000
us-gaap Operating Lease Cost
OperatingLeaseCost
1436000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6094000
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12092000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
11856000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
17852000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
362000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
322000
us-gaap Variable Lease Cost
VariableLeaseCost
725000
us-gaap Variable Lease Cost
VariableLeaseCost
644000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83665000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81823000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1715000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
15367000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16330000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
17213000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18045000
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
27386000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
27083000
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
13138000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
27386000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
40221000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3793000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
6268000
us-gaap Operating Lease Payments
OperatingLeasePayments
1845000
us-gaap Operating Lease Payments
OperatingLeasePayments
1974000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1020000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
869000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2252000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83247000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81630000
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 June 30, 2022 represent derivative instruments from eight 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 all 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.
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
850000000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1031060000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
61532000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
68333000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
788468000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
962727000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6060000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
788468000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
956667000
CY2022Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0485
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.36
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7319000
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
5626000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
12971000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
10541000
CY2022Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3270000
CY2021Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2609000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
5604000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4860000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4049000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3017000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7367000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5681000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.013
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.013
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004
CY2021Q2 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
0.016
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.016
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
0.004
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.004
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
195141000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-125782000
us-gaap Net Income Loss
NetIncomeLoss
128700000
us-gaap Net Income Loss
NetIncomeLoss
-247273000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82566000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81823000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82320000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81630000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1099000
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.54
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
927000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.03
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.33
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.54
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1664000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
27500000

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