$TALO
TALOS ENERGY INC.

2023 Q4 Form 10-Q Financial Statement

#000095017023059561 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $385.0M $383.1M
YoY Change 12.49% 1.59%
Cost Of Revenue $104.2M $104.1M
YoY Change 30.63% 25.85%
Gross Profit $280.8M $279.0M
YoY Change 6.98% -5.24%
Gross Profit Margin 72.94% 72.82%
Selling, General & Admin -$34.86M $89.20M
YoY Change 3.12% 304.54%
% of Gross Profit -12.41% 31.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $205.8M $163.4M
YoY Change 54.66% 76.94%
% of Gross Profit 73.29% 58.55%
Operating Expenses $173.9M $216.6M
YoY Change 43.74% 70.3%
Operating Profit $106.8M $126.8M
YoY Change -24.47% -22.69%
Interest Expense $44.15M $45.64M
YoY Change -158.56% 55.94%
% of Operating Profit 41.33% 36.0%
Other Income/Expense, Net $1.921M $2.193M
YoY Change -1105.76% 216.91%
Pretax Income $80.82M -$17.97M
YoY Change 2566.35% -107.17%
Income Tax -$5.081M -$15.90M
% Of Pretax Income -6.29%
Net Earnings $85.90M -$2.103M
YoY Change 3023.56% -100.84%
Net Earnings / Revenue 22.31% -0.55%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share $0.69 -$0.02
COMMON SHARES
Basic Shares Outstanding 124.1M 124.1M
Diluted Shares Outstanding 124.1M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.79M $25.10M
YoY Change 0.89% -72.68%
Cash & Equivalents $33.64M $13.63M
Short-Term Investments $36.15M $11.50M
Other Short-Term Assets $10.39M $14.46M
YoY Change 441.94% 663.31%
Inventory
Prepaid Expenses $64.39M $86.08M
Receivables $179.0M $181.4M
Other Receivables $98.63M $104.5M
Total Short-Term Assets $422.2M $411.6M
YoY Change 14.77% 10.65%
LONG-TERM ASSETS
Property, Plant & Equipment $4.040B $4.007B
YoY Change 52.85% 68.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $146.0M $141.7M
YoY Change 8269.57% 6579.96%
Other Assets $5.961M $13.45M
YoY Change -8.0% 93.94%
Total Long-Term Assets $4.394B $4.342B
YoY Change 63.3% 77.83%
TOTAL ASSETS
Total Short-Term Assets $422.2M $411.6M
Total Long-Term Assets $4.394B $4.342B
Total Assets $4.816B $4.753B
YoY Change 57.47% 68.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.19M $125.6M
YoY Change -34.31% 14.18%
Accrued Expenses $227.7M $205.1M
YoY Change 3.6% 8.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $33.06M $33.11M
YoY Change
Total Short-Term Liabilities $578.6M $629.8M
YoY Change -4.69% 13.21%
LONG-TERM LIABILITIES
Long-Term Debt $992.6M $1.019B
YoY Change 69.58% 56.23%
Other Long-Term Liabilities $251.3M $267.0M
YoY Change 42.65% 569.01%
Total Long-Term Liabilities $1.244B $1.286B
YoY Change 63.35% 85.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $578.6M $629.8M
Total Long-Term Liabilities $1.244B $1.286B
Total Liabilities $2.661B $2.691B
YoY Change 40.58% 62.3%
SHAREHOLDERS EQUITY
Retained Earnings -$347.7M -$433.6M
YoY Change -35.01% -19.37%
Common Stock $2.550B $2.543B
YoY Change 49.97% 50.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.155B $2.062B
YoY Change
Total Liabilities & Shareholders Equity $4.816B $4.753B
YoY Change 57.47% 68.95%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $85.90M -$2.103M
YoY Change 3023.56% -100.84%
Depreciation, Depletion And Amortization $205.8M $163.4M
YoY Change 54.66% 76.94%
Cash From Operating Activities $176.3M $65.70M
YoY Change 3.19% -64.4%
INVESTING ACTIVITIES
Capital Expenditures $127.5M $131.4M
YoY Change 12.26% -261.21%
Acquisitions
YoY Change
Other Investing Activities $6.746M $52.00M
YoY Change 2631.17% 55813.98%
Cash From Investing Activities -$120.8M -$79.30M
YoY Change 6.55% -2.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.90M 10.40M
YoY Change -55.16% -107.07%
NET CHANGE
Cash From Operating Activities 176.3M 65.70M
Cash From Investing Activities -120.8M -79.30M
Cash From Financing Activities -34.90M 10.40M
Net Change In Cash 20.61M -3.200M
YoY Change -201.29% -92.73%
FREE CASH FLOW
Cash From Operating Activities $176.3M $65.70M
Capital Expenditures $127.5M $131.4M
Free Cash Flow $48.76M -$65.70M
YoY Change -14.81% -124.69%

Facts In Submission

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Talos Energy Inc.
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IncomeLossFromEquityMethodInvestments
991000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2938000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14599000
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2193000
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
692000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10450000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
31991000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17968000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
250586000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
45918000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
381421000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-15865000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
121000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55516000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2256000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2103000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
250465000
us-gaap Net Income Loss
NetIncomeLoss
101434000
us-gaap Net Income Loss
NetIncomeLoss
379165000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.6
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.99
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124103000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82576000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118459000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82406000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124103000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1155343000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
2061888000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2353000
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
76000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2103000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2062062000
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
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1165576000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
17812000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
7454000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
832198000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
47504000
us-gaap Net Income Loss
NetIncomeLoss
101434000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2062062000
us-gaap Profit Loss
ProfitLoss
101434000
us-gaap Profit Loss
ProfitLoss
379165000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
543906000
talo Depreciation Depletion Amortization And Accretion Expense
DepreciationDepletionAmortizationAndAccretionExpense
337574000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
11247000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
10614000
us-gaap Share Based Compensation
ShareBasedCompensation
9080000
us-gaap Share Based Compensation
ShareBasedCompensation
11677000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-13668000
us-gaap Gain Loss From Price Risk Management Activity
GainLossFromPriceRiskManagementActivity
-231133000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-10474000
talo Net Cash Received Paid From Price Risk Management Activity
NetCashReceivedPaidFromPriceRiskManagementActivity
-368483000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2938000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
14599000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
71097000
us-gaap Asset Retirement Obligation Cash Paid To Settle
AssetRetirementObligationCashPaidToSettle
60304000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
66115000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-390000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3821000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23783000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
12992000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
28576000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-30063000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
16677000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-89511000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-6682000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
57155000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-6559000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
342811000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
538928000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
438506000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
209592000
us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
17617000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-3500000
talo Payments For Sale Of Property And Equipment Net
PaymentsForSaleOfPropertyAndEquipmentNet
-66183000
talo Payments For Sale Of Property And Equipment Net
PaymentsForSaleOfPropertyAndEquipmentNet
-1690000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
29372000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2250000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
15000000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
7796000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-391874000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-198652000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
15000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
6060000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
675000000
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
35000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
460000000
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
350000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11775000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
211000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-841000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
12117000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
19764000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
47504000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7454000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4603000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
120309000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-345638000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
71246000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5362000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
44145000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
69852000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
115391000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
64490000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
90688000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
78191000
us-gaap Interest Paid Net
InterestPaidNet
108931000
us-gaap Interest Paid Net
InterestPaidNet
89187000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-11-14
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13631000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44145000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
101760000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
115391000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
44145000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
541661000
talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
258858000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
297000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
71097000
talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
19417000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
63430000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
43116000
CY2023Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
816848000
CY2023Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
69288000
CY2023Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
747560000
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3604000
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1386000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10969000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5179000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1323000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
568000
us-gaap Operating Lease Cost
OperatingLeaseCost
3419000
us-gaap Operating Lease Cost
OperatingLeaseCost
1703000
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
33152000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12982000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
103001000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
24838000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
666000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
363000
us-gaap Variable Lease Cost
VariableLeaseCost
1856000
us-gaap Variable Lease Cost
VariableLeaseCost
1088000
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
207000
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
0
us-gaap Sublease Income
SubleaseIncome
276000
us-gaap Sublease Income
SubleaseIncome
0
CY2023Q3 us-gaap Lease Cost
LeaseCost
38538000
CY2022Q3 us-gaap Lease Cost
LeaseCost
15299000
us-gaap Lease Cost
LeaseCost
118969000
us-gaap Lease Cost
LeaseCost
32808000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12313000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5903000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2859000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1943000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18888000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14855000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
21747000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16798000
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
166261000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
166261000
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
17426000
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
16306000
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
135826000
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
149064000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
153252000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
165370000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
585340000
CY2023Q1 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
The indenture governing the 11.75% Notes requires the redemption of $15.0 million of the principal amount outstanding at par value on April 15th and October 15th of each year
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
10969000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5179000
us-gaap Operating Lease Payments
OperatingLeasePayments
4880000
us-gaap Operating Lease Payments
OperatingLeasePayments
2776000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12971000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
talo Remeasurement Of Lease Liability Arising From Modification Of Rou Asset
RemeasurementOfLeaseLiabilityArisingFromModificationOfRouAsset
-5124000
talo Remeasurement Of Lease Liability Arising From Modification Of Rou Asset
RemeasurementOfLeaseLiabilityArisingFromModificationOfRouAsset
0
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, 2023 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.
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1096041000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
638541000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
44158000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
53201000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
1051883000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
585340000
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
33109000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1018774000
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2556000
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7626000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
18038000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
20597000
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2163000
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3316000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
8958000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
8920000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
393000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4310000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9080000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11677000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-15900000
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.883
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.883
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-55500000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.209
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.209
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
54900000
us-gaap Valuation Allowance Deferred Tax Asset Explanation Of Change
ValuationAllowanceDeferredTaxAssetExplanationOfChange
The release of the valuation allowance is a result of the deferred tax liabilities acquired with the EnVen Acquisition
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
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2103000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
250465000
us-gaap Net Income Loss
NetIncomeLoss
101434000
us-gaap Net Income Loss
NetIncomeLoss
379165000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124103000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82576000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118459000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82406000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1242000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
803000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1032000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124103000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83818000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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119262000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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83438000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.6
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.99
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1851000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
120000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1491000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1149000
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
CY2023Q1 talo Amended Restated Stockholders Agreement Termination Date
AmendedRestatedStockholdersAgreementTerminationDate
2023-02-13
CY2022Q1 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
27500000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Segment Reporting No Asset Information
SegmentReportingNoAssetInformation
true
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17968000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
250586000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
45918000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
381421000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
438506000
us-gaap Payments To Explore And Develop Oil And Gas Properties
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209592000
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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talo-20230930_htm.xml Edgar Link completed
talo-20230930_lab.xml Edgar Link unprocessable