$TALO
TALOS ENERGY INC.

2022 Q4 Form 10-Q Financial Statement

#000095017022021374 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $342.2M $377.1M
YoY Change -10.41% 29.64%
Cost Of Revenue $79.75M $82.72M
YoY Change 5.29% 16.83%
Gross Profit $262.4M $294.4M
YoY Change -14.29% 33.76%
Gross Profit Margin 76.69% 78.07%
Selling, General & Admin -$33.80M $22.05M
YoY Change 15.71%
% of Gross Profit -12.88% 7.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $133.1M $92.32M
YoY Change 10.95% 4.21%
% of Gross Profit 50.7% 31.36%
Operating Expenses $121.0M $127.2M
YoY Change -16.01% 0.62%
Operating Profit $141.4M $164.0M
YoY Change -12.77% 77.59%
Interest Expense -$75.40M $29.27M
YoY Change 61.89% -9.65%
% of Operating Profit -53.31% 17.85%
Other Income/Expense, Net -$191.0K $692.0K
YoY Change -120.58% -84.54%
Pretax Income $3.031M $250.6M
YoY Change -96.15% -1569.28%
Income Tax $281.0K $100.0K
% Of Pretax Income 9.27% 0.04%
Net Earnings $2.750M $250.5M
YoY Change -96.61% -1600.6%
Net Earnings / Revenue 0.8% 66.41%
Basic Earnings Per Share $3.03
Diluted Earnings Per Share $0.03 $2.99
COMMON SHARES
Basic Shares Outstanding 82.57M 82.54M
Diluted Shares Outstanding 83.82M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.17M $91.88M
YoY Change -2.32% 54.6%
Cash & Equivalents $44.15M $64.49M
Short-Term Investments $25.03M $27.39M
Other Short-Term Assets $1.917M $1.894M
YoY Change 14.52% 10.24%
Inventory
Prepaid Expenses $84.76M $76.40M
Receivables $150.6M $150.1M
Other Receivables $61.38M $51.71M
Total Short-Term Assets $367.8M $372.0M
YoY Change 8.18% 46.61%
LONG-TERM ASSETS
Property, Plant & Equipment $2.643B $2.380B
YoY Change 10.66% -4.16%
Goodwill
YoY Change
Intangibles $1.400M
YoY Change
Long-Term Investments $1.745M $2.121M
YoY Change 4228.57%
Other Assets $6.479M $6.936M
YoY Change -47.31% -68.46%
Total Long-Term Assets $2.691B $2.441B
YoY Change 10.88% -3.6%
TOTAL ASSETS
Total Short-Term Assets $367.8M $372.0M
Total Long-Term Assets $2.691B $2.441B
Total Assets $3.059B $2.813B
YoY Change 10.55% 0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.2M $110.0M
YoY Change 49.36% 3.64%
Accrued Expenses $219.8M $189.7M
YoY Change 68.46% 42.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $607.1M $556.3M
YoY Change 1.09% -12.5%
LONG-TERM LIABILITIES
Long-Term Debt $585.3M $652.1M
YoY Change -38.81% -33.38%
Other Long-Term Liabilities $176.2M $39.92M
YoY Change 291.4% 5.54%
Total Long-Term Liabilities $761.5M $692.0M
YoY Change -23.98% -31.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $607.1M $556.3M
Total Long-Term Liabilities $761.5M $692.0M
Total Liabilities $1.893B $1.658B
YoY Change -5.64% -21.48%
SHAREHOLDERS EQUITY
Retained Earnings -$535.0M -$537.8M
YoY Change -41.65% -46.11%
Common Stock $1.701B $1.693B
YoY Change 1.37% 1.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.166B $1.155B
YoY Change
Total Liabilities & Shareholders Equity $3.059B $2.813B
YoY Change 10.55% 0.98%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $2.750M $250.5M
YoY Change -96.61% -1600.6%
Depreciation, Depletion And Amortization $133.1M $92.32M
YoY Change 10.95% 4.21%
Cash From Operating Activities $170.8M $184.6M
YoY Change 38.04% 108.42%
INVESTING ACTIVITIES
Capital Expenditures $113.6M -$81.51M
YoY Change -238.92% -4.93%
Acquisitions
YoY Change
Other Investing Activities $247.0K $93.00K
YoY Change 57.32% -56.54%
Cash From Investing Activities -$113.3M -$81.42M
YoY Change 38.89% -4.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -77.83M -147.1M
YoY Change 145.36% 1541.97%
NET CHANGE
Cash From Operating Activities 170.8M 184.6M
Cash From Investing Activities -113.3M -81.42M
Cash From Financing Activities -77.83M -147.1M
Net Change In Cash -20.34M -43.99M
YoY Change -295.16% 642.21%
FREE CASH FLOW
Cash From Operating Activities $170.8M $184.6M
Capital Expenditures $113.6M -$81.51M
Free Cash Flow $57.24M $266.1M
YoY Change -72.15% 52.66%

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
381421000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-263246000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
121000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-364000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2256000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
718000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
250465000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16691000
us-gaap Net Income Loss
NetIncomeLoss
379165000
us-gaap Net Income Loss
NetIncomeLoss
-263964000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.03
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.23
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.99
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.23
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81901000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82406000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
28576000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
16598000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81721000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83818000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81901000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83438000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81721000
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
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
897510000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7495000
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
127000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
250465000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1155343000
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 Net Income Loss
NetIncomeLoss
-263964000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
674624000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
760653000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20128000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4603000
us-gaap Net Income Loss
NetIncomeLoss
379165000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1155343000
us-gaap Profit Loss
ProfitLoss
379165000
us-gaap Profit Loss
ProfitLoss
-263964000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
337574000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
334204000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10614000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10085000
us-gaap Share Based Compensation
ShareBasedCompensation
11677000
us-gaap Share Based Compensation
ShareBasedCompensation
8294000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-231133000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-405604000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-368483000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-189252000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14599000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-13225000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
60304000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
58001000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-390000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
677000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23783000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-29078000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
16677000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1591000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-6682000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
16395000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
538928000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
287648000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
209592000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
211580000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
3500000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5399000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1690000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4826000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2250000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
15000000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-198652000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-212153000
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
75000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
350000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
315000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
211000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
26991000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-7921000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
19764000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15925000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4603000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3161000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-345638000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50301000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5362000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25194000
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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
64490000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
59427000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
78191000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
72802000
us-gaap Interest Paid Net
InterestPaidNet
89187000
us-gaap Interest Paid Net
InterestPaidNet
64603000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-11-14
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Variable Lease Cost
VariableLeaseCost
994000
CY2022Q3 us-gaap Lease Cost
LeaseCost
15299000
CY2021Q3 us-gaap Lease Cost
LeaseCost
18342000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
434006000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
78000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
60304000
talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
-1572000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
42400000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
38656000
CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
453264000
CY2022Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
65613000
CY2022Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
387651000
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1386000
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2749000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5179000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9017000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
568000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
702000
us-gaap Operating Lease Cost
OperatingLeaseCost
1703000
us-gaap Operating Lease Cost
OperatingLeaseCost
2138000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12982000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14541000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
24838000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
32393000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
363000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
350000
us-gaap Variable Lease Cost
VariableLeaseCost
1088000
us-gaap Lease Cost
LeaseCost
32808000
us-gaap Lease Cost
LeaseCost
44542000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5518000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5714000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1885000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1715000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14895000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16330000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16780000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18045000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
124299000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
124299000
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
20458000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
27083000
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
13138000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
20458000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
40221000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5179000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9017000
us-gaap Operating Lease Payments
OperatingLeasePayments
2776000
us-gaap Operating Lease Payments
OperatingLeasePayments
2946000
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
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, 2022 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 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.
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
710000000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1031060000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
57892000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
68333000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
652108000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
962727000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6060000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
652108000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
956667000
CY2022Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0616
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7626000
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4993000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
20597000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
15534000
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3316000
CY2021Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2380000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
8920000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
7240000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4310000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2613000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11677000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8294000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
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
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.006
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.006
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
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
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
250465000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16691000
us-gaap Net Income Loss
NetIncomeLoss
379165000
us-gaap Net Income Loss
NetIncomeLoss
-263964000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82576000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81901000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82406000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81721000
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1242000
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1032000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81901000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83438000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81721000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.03
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.23
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.99
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.23
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
120000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1516000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1149000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2007000
talo Stockholders Agreement Date
StockholdersAgreementDate
2018-05-10
talo Stockholders Agreement Amendment Date
StockholdersAgreementAmendmentDate
2020-02-24
talo Amended Restated Stockholders Agreement Date
AmendedRestatedStockholdersAgreementDate
2022-03-29
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
27500000

Files In Submission

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talo-20220930_def.xml Edgar Link unprocessable
0000950170-22-021374-index-headers.html Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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talo-20220930.htm Edgar Link pending
talo-20220930.xsd Edgar Link pending
talo-ex31_1.htm Edgar Link pending
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talo-20220930_pre.xml Edgar Link unprocessable
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talo-20220930_htm.xml Edgar Link completed
talo-20220930_cal.xml Edgar Link unprocessable