2024 Q1 Form 10-K Financial Statement

#000095017024022540 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $429.9M $385.0M $1.458B
YoY Change 33.28% 12.49% -11.75%
Cost Of Revenue $135.7M $104.2M $392.1M
YoY Change 65.58% 30.63% 25.83%
Gross Profit $294.2M $280.8M $1.066B
YoY Change 22.27% 6.98% -20.49%
Gross Profit Margin 68.43% 72.94% 73.11%
Selling, General & Admin $20.68M -$34.86M $125.2M
YoY Change -49.77% 3.12% 91.9%
% of Gross Profit 7.03% -12.41% 11.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $215.7M $205.8M $663.5M
YoY Change 46.39% 54.66% 60.03%
% of Gross Profit 73.3% 73.29% 62.26%
Operating Expenses $177.2M $173.9M $822.7M
YoY Change -15.92% 43.74% 44.4%
Operating Profit $67.85M $106.8M $209.8M
YoY Change 764.05% -24.47% -71.5%
Interest Expense $50.85M $44.15M $173.1M
YoY Change 35.29% -158.56% 37.97%
% of Operating Profit 74.94% 41.33% 82.53%
Other Income/Expense, Net -$55.90M $1.921M $12.37M
YoY Change -938.52% -1105.76% -61.1%
Pretax Income -$134.0M $80.82M $126.7M
YoY Change -409.38% 2566.35% -67.03%
Income Tax -$21.60M -$5.081M -$60.60M
% Of Pretax Income -6.29% -47.81%
Net Earnings -$112.4M $85.90M $187.3M
YoY Change -225.13% 3023.56% -50.95%
Net Earnings / Revenue -26.15% 22.31% 12.85%
Basic Earnings Per Share -$0.71 $1.56
Diluted Earnings Per Share -$0.71 $0.69 $1.55
COMMON SHARES
Basic Shares Outstanding 158.6M 124.1M 119.9M
Diluted Shares Outstanding 158.5M 120.8M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.75M $69.79M $69.79M
YoY Change -43.79% 0.89% 0.89%
Cash & Equivalents $21.00M $33.64M $33.64M
Short-Term Investments $18.75M $36.15M $36.15M
Other Short-Term Assets $16.04M $10.39M $74.78M
YoY Change 34.74% 441.94% -13.73%
Inventory
Prepaid Expenses $75.78M $64.39M
Receivables $248.9M $179.0M $179.0M
Other Receivables $160.5M $98.63M $98.63M
Total Short-Term Assets $540.9M $422.2M $422.2M
YoY Change 31.58% 14.77% 14.77%
LONG-TERM ASSETS
Property, Plant & Equipment $5.573B $4.040B $4.052B
YoY Change 34.06% 52.85% 52.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $108.0M $146.0M $163.6M
YoY Change 390.56% 8269.57% 1604.34%
Other Assets $10.49M $5.961M $162.6M
YoY Change -42.14% -8.0% 407.81%
Total Long-Term Assets $5.893B $4.394B $4.394B
YoY Change 34.41% 63.3% 63.3%
TOTAL ASSETS
Total Short-Term Assets $540.9M $422.2M $422.2M
Total Long-Term Assets $5.893B $4.394B $4.394B
Total Assets $6.434B $4.816B $4.816B
YoY Change 34.17% 57.47% 57.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.8M $84.19M $84.19M
YoY Change -25.82% -34.31% -34.31%
Accrued Expenses $272.2M $227.7M $327.7M
YoY Change 35.2% 3.6% 5.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $33.06M $50.89M
YoY Change -100.0% 212.12%
Total Short-Term Liabilities $696.9M $578.6M $578.6M
YoY Change 3.82% -4.69% -4.69%
LONG-TERM LIABILITIES
Long-Term Debt $1.534B $992.6M $1.124B
YoY Change 57.0% 69.58% 53.03%
Other Long-Term Liabilities $391.8M $251.3M $958.7M
YoY Change 37.78% 42.65% 73.81%
Total Long-Term Liabilities $1.926B $1.244B $2.083B
YoY Change 52.67% 63.35% 61.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $696.9M $578.6M $578.6M
Total Long-Term Liabilities $1.926B $1.244B $2.083B
Total Liabilities $3.682B $2.661B $2.661B
YoY Change 34.64% 40.58% 40.58%
SHAREHOLDERS EQUITY
Retained Earnings -$460.2M -$347.7M
YoY Change 3.36% -35.01%
Common Stock $3.260B $2.550B
YoY Change 28.71% 49.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.752B $2.155B $2.155B
YoY Change
Total Liabilities & Shareholders Equity $6.434B $4.816B $4.816B
YoY Change 34.17% 57.47% 57.47%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$112.4M $85.90M $187.3M
YoY Change -225.13% 3023.56% -50.95%
Depreciation, Depletion And Amortization $215.7M $205.8M $663.5M
YoY Change 46.39% 54.66% 60.03%
Cash From Operating Activities $96.43M $176.3M $519.1M
YoY Change 53.41% 3.19% -26.86%
INVESTING ACTIVITIES
Capital Expenditures $146.1M $127.5M $573.8M
YoY Change 30.71% 12.26% 77.56%
Acquisitions $916.0M
YoY Change -5299.78%
Other Investing Activities -$791.6M $6.746M $61.17M
YoY Change -16653.05% 2631.17% 446.83%
Cash From Investing Activities -$937.6M -$120.8M -$512.6M
YoY Change 776.5% 6.55% 64.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $47.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 829.6M -34.90M 85.41M
YoY Change 608.34% -55.16% -120.17%
NET CHANGE
Cash From Operating Activities 96.43M 176.3M 519.1M
Cash From Investing Activities -937.6M -120.8M -512.6M
Cash From Financing Activities 829.6M -34.90M 85.41M
Net Change In Cash -11.64M 20.61M 91.85M
YoY Change -115.94% -201.29% -457.31%
FREE CASH FLOW
Cash From Operating Activities $96.43M $176.3M $519.1M
Capital Expenditures $146.1M $127.5M $573.8M
Free Cash Flow -$49.65M $48.76M -$54.73M
YoY Change 1.53% -14.81% -114.16%

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DepreciationDepletionAmortizationAndAccretionExpense
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CY2022 us-gaap Share Based Compensation
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CY2022 talo Net Cash Received Paid From Price Risk Management Activity
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CY2022 us-gaap Income Loss From Equity Method Investments
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CY2021 us-gaap Income Loss From Equity Method Investments
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CY2021 us-gaap Asset Retirement Obligation Cash Paid To Settle
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CY2021 us-gaap Gain Loss On Disposition Of Assets1
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CY2022 us-gaap Increase Decrease In Other Current Liabilities
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Equity Method Investments
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CY2021 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
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CY2023 us-gaap Payments To Acquire Intangible Assets
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CY2022 us-gaap Payments To Acquire Intangible Assets
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CY2021 us-gaap Payments To Acquire Intangible Assets
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CY2023 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
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CY2022 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
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CY2021 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2022 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2021 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2022 us-gaap Repayments Of Senior Debt
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CY2021 us-gaap Repayments Of Senior Debt
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CY2022 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Interest Paid Net
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CY2023 dei Entity Incorporation Date Of Incorporation
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2017-11-14
CY2023 us-gaap Number Of Operating Segments
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
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CY2022 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
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CY2021 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
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CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Consisting principally of cash and cash equivalents, accounts receivable and commodity derivatives, the Company is subject to concentrated financial instruments credit risk.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Cash and cash equivalents balances are maintained in financial institutions, which at times, exceed federally insured limits. The Company monitors the financial condition of these institutions and has not experienced losses on these accounts.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Commodity derivatives are entered into with registered swap dealers, all of which participate in the Company’s senior reserve-based revolving credit facility (the “Bank Credit Facility”). The Company monitors the financial condition of these institutions and has not experienced losses due to counterparty default on these instruments.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company markets the majority of its oil and natural gas production, and substantially all of its revenues are attributable to the U.S. The majority of the Company’s oil, natural gas and NGL production is sold to customers under short-term (less than 12 months) contracts at market-based prices. The Company’s customers consist primarily of major oil and natural gas companies, well-established oil and pipeline companies and independent oil and gas producers and suppliers. The Company performs ongoing credit evaluations of its customers and provide allowances for probable credit losses when necessary.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:6pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The percent of consolidated revenue of major customers, those whose total represented 10% or more of the Company’s oil, natural gas and NGL revenues, was as follows:</span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:55.842%;"></td> <td style="width:1%;"></td> <td style="width:12.566%;"></td> <td style="width:1%;"></td> <td style="width:1%;"></td> <td style="width:12.566%;"></td> <td style="width:1%;"></td> <td style="width:1%;"></td> <td style="width:13.026%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="8" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">Year Ended December 31,</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2023</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2022</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">2021</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Shell Trading (US) Company</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">54</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">44</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">45</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Valero Energy Corporation</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">21</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">23</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> <td colspan="2" style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">**</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Chevron Products Company</span></p></td> <td colspan="2" style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">**</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">11</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">29</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">%</span></p></td> </tr> </table><p style="padding-bottom:1pt;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;border-bottom:0.5pt solid;margin-right:73.333%;text-align:justify;"><span style="white-space:pre-wrap;font-size:6pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">** Less than </span><span style="font-size:8pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Times New Roman;min-width:fit-content;">%</span></p></div><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The loss of a major customer could have material adverse effect on the Company in the short term. However, the Company believes it would be able to obtain other customers to market its oil, natural gas and NGL production.</span></p>
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The unproved costs will be excluded from the amortization base until the Company has made a determination as to the existence of proved reserves. The Company currently estimates these costs will be transferred to the amortization base over eight years.
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CY2023 us-gaap Restriction To Transfer Funds
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The Company has not historically declared or paid any cash dividends on its capital stock. However, to the extent the Company determines in the future that it may be appropriate to pay a special dividend or initiate a quarterly dividend program, the Company’s ability to pay any such dividends to its stockholders may be limited to the extent its consolidated subsidiaries are limited in their ability to make distributions to the Parent Company, including the significant restrictions that the agreements governing the Company’s debt impose on the ability of its consolidated subsidiaries to make distributions and other payments to the Parent Company. With respect to entities accounted for under the equity method, the Company’s primary equity method investee as of December 31, 2023 did not have any undistributed earnings.The Bank Credit Facility contains restrictions on the ability of Talos Production Inc. to transfer funds to the Parent Company in the form of cash dividends, loans or advances. The Bank Credit Facility restricts distributions and other payments to the Parent Company, subject to certain baskets and other exceptions described therein including the payment of operating expense incurred in the ordinary course of business and for income taxes attributable to its ownership in Talos Production Inc. Under the Bank Credit Facility, general distributions and other restricted payments may be made to the Company so long as after giving pro forma effect to the making of any such restricted payment (i) no default or event of default has occurred and is continuing; (ii) available commitments exceed 25% of the then effective loan limit; (iii) the pro forma current ratio of 1.0 to 1.0 is satisfied; and (iv) either (A) the Consolidated Total Debt to EBITDAX Ratio (as defined in the Bank Credit Facility) is not greater than 1.75 to 1.00 and the aggregate amount of such restricted payments does not exceed the Available Free Cash Flow Amount (as defined in the Bank Credit Facility) at the time made or (B) the Consolidated Total Debt to EBITDAX Ratio is not greater than 1.00 to 1.00. In addition, the indenture governing the 12.00% Notes restricts the Company’s consolidated subsidiaries from, directly or indirectly, among other things, declaring or paying any dividend on account of their equity securities, subject to certain limited exceptions described in the indenture. Such exceptions include, among other things, if (i) no default has occurred or would occur as a result thereof, (ii) immediately after giving effect to such transaction on a pro forma basis, the issuer could incur $1.00 of additional indebtedness in compliance with a fixed charge coverage ratio of 2.25 to 1.00, (iii) the ratio of the issuer’s total debt to EBITDA ratio is not greater than 3.00 to 1.00, and (iii) if payments pursuant to such transaction, together with the aggregate amount of certain other restricted payments, is less than the cumulative credit permitted under the indenture.The indenture governing the 11.75% Notes contains a similar restriction on the Company and its consolidated subsidiaries’ ability to declare or pay dividends, subject to exceptions which include, among other things, (i) subject to no default or event of default having occurred or continuing, dividends in an aggregate amount not to exceed the greater of $25 million and 2.5% of Adjusted Consolidated Net Tangible Assets, (ii) dividends or distributions to any parent company to make payments, in lieu of issuing fractional shares in connection with share dividends, share splits, reverse share splits, mergers, consolidations, amalgamations or other business combinations and in connection with the exercise of warrants, options or other securities convertible into or exchangeable for equity interests of the Company. At December 31, 2023, restricted net assets of the Company’s consolidated subsidiaries exceeded 25%.Subsequent Event — Debt OfferingOn February 7, 2024, the Company closed an upsized offering (the “Debt Offering”) for the sale of $1,250.0 million in aggregate principal amount of second-priority senior secured notes, consisting of $625.0 million aggregate principal amount of second-priority senior secured notes due 2029 and $625.0 million aggregate principal amount of second-priority senior secured notes due 2031 (collectively, the “New Senior Notes”), in a private offering to eligible purchasers that is exempt from registration under the Securities Act. The net proceeds from the Debt Offering (i) are expected to fund a portion of the cash consideration for the pending QuarterNorth Acquisition, (ii) funded the redemption of all of the outstanding 12.00% Notes and all of the outstanding 11.75% Notes discussed above (the “Redemptions”), and (iii) paid premiums, fees and expenses related to the Redemptions and the issuance of the New Senior Notes. The Company intends to use any remaining net proceeds for general corporate purposes, which may include the repayment of a portion of the outstanding borrowings under the Bank Credit Facility.An aggregate of $340.0 million principal amount of the New Senior Notes will be subject to a “special mandatory redemption” in the event that the transactions contemplated by the QuarterNorth Merger Agreement are not consummated on or before May 31, 2024 (or up to September 30, 2024 solely in the event the parties require additional time to satisfy certain requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, pursuant to the terms of the QuarterNorth Merger Agreement), or if we notify the trustee of the New Senior Notes that we will not pursue the consummation of the QuarterNorth Acquisition.
CY2022 talo Remeasurement Of Lease Liability Arising From Modification Of Rou Asset
RemeasurementOfLeaseLiabilityArisingFromModificationOfRouAsset
0
CY2021 talo Remeasurement Of Lease Liability Arising From Modification Of Rou Asset
RemeasurementOfLeaseLiabilityArisingFromModificationOfRouAsset
0
CY2023 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 December 31, 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. Had the Company’s counterparties failed to perform under existing commodity derivative contracts the maximum loss at December 31, 2023 would have been $45.6 million.
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15953000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10992000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
146049000
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1745000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1066041000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
638541000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
40367000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
53201000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1025674000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
585340000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
33060000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
585340000
CY2023 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The Bank Credit Facility has certain debt covenants, the most restrictive of which is that the Company must maintain a Consolidated Total Debt to EBITDAX Ratio (as defined in the Bank Credit Facility) of no greater than 3.00 to 1.00 calculated each quarter utilizing the most recent twelve months to determine EBITDAX.
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
541661000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
434006000
CY2023 talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
258858000
CY2022 talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
0
CY2023 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
14199000
CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
1140000
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
86615000
CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
69596000
CY2023 talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
-19448000
CY2022 talo Asset Retirement Obligations Divested
AssetRetirementObligationsDivested
-1572000
CY2023 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
86152000
CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
55995000
CY2023 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
102419000
CY2022 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
121688000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
541661000
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
77581000
CY2022Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
39888000
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
819645000
CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
25236000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
28280000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
20560000
CY2023 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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12283000
CY2022 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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12327000
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
9568000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12953000
CY2023 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
76000
CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
1375000
CY2021 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
-5000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
31000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
432000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
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CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
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CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
71000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2537000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
26614000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
80735000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1748000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1591000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-674000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
13539000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
15657000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-11920000
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
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CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
2008000
CY2023 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2021 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
4011000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0089
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
147252000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
159257000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
509000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
44462000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
24840000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
24787000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
107000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
107000
CY2023Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
46414000
CY2022Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
23262000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
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CY2023Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
0
CY2022Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
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CY2023Q4 talo Deferred Tax Assets Other Well Equipment
DeferredTaxAssetsOtherWellEquipment
1317000
CY2022Q4 talo Deferred Tax Assets Other Well Equipment
DeferredTaxAssetsOtherWellEquipment
1891000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeBonuses
5050000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Bonuses
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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5172000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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5296000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
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4427000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
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3669000
CY2023Q4 talo Deferred Tax Asset Finance Lease Liability
DeferredTaxAssetFinanceLeaseLiability
31607000
CY2022Q4 talo Deferred Tax Asset Finance Lease Liability
DeferredTaxAssetFinanceLeaseLiability
32559000
CY2023Q4 us-gaap Deferred Tax Assets Other
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3383000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
7142000
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DeferredTaxAssetsGross
460326000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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23697000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Net
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304311000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
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CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
302602000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
2421000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2023Q4 us-gaap Deferred Tax Liabilities Derivatives
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9670000
CY2022Q4 us-gaap Deferred Tax Liabilities Derivatives
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0
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3847000
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
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2530000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
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528856000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
306455000
CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
2144000
CY2023 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
As of December 31, 2023, the Company had U.S. federal net operating loss carryforwards (“NOLs”) of approximately $701.2 million, all of which are subject to limitation under Section 382 of the IRC. IRC Section 382 provides an annual limitation with respect to the ability of a corporation to utilize its tax attributes, against future U.S. taxable income in the event of a change in ownership. If not utilized, such carryforwards would begin to expire at the end of 2035.
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
23700000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
129100000
CY2023 us-gaap Valuation Allowance Commentary
ValuationAllowanceCommentary
In assessing the need for a valuation allowance, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized using available positive and negative evidence, including future reversals of temporary differences, tax-planning strategies and future taxable income, to estimate whether sufficient future taxable income will be generated to permit use of deferred tax assets. A significant piece of objective negative evidence evaluated is the cumulative loss incurred over recent years. Such objective negative evidence limits the Company’s ability to consider other subjective positive evidence.
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
835000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
696000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
648000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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154000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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100000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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21000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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0
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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39000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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27000
CY2023Q4 us-gaap Unrecognized Tax Benefits
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989000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
835000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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696000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
187332000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
381915000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-182952000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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119894000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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82454000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81769000
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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858000
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1229000
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120752000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83683000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81769000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.56
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.63
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.24
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.56
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.24
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1353000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
865000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1709000
CY2023 talo Stockholders Agreement Date
StockholdersAgreementDate
2018-05-10
CY2023 talo Stockholders Agreement Amendment Date
StockholdersAgreementAmendmentDate
2020-02-24
CY2023 talo Amended Restated Stockholders Agreement Date
AmendedRestatedStockholdersAgreementDate
2022-03-29
CY2023Q1 talo Amended Restated Stockholders Agreement Termination Date
AmendedRestatedStockholdersAgreementTerminationDate
2023-02-13
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
312500000
CY2022Q1 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
27500000
CY2023Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
20290000
CY2023Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
327000
CY2023Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
0
CY2023Q4 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
0
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
9425055000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
10674896000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Cash Inflows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesCashInflows
8496005000
CY2023Q4 talo Contractual Obligation Due After Four Year
ContractualObligationDueAfterFourYear
0
CY2023Q4 us-gaap Contractual Obligation
ContractualObligation
20617000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023 us-gaap Segment Reporting No Asset Information
SegmentReportingNoAssetInformation
true
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
126735000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
384452000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-184587000
CY2023 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
561434000
CY2022 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
323164000
CY2021 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
293331000
CY2023Q4 talo Percentage Of Proved Oil Natural Gas And Ngl Reserves Attributable To All Of Oil And Natural Gas Properties
PercentageOfProvedOilNaturalGasAndNGLReservesAttributableToAllOfOilAndNaturalGasProperties
1
CY2022Q4 talo Percentage Of Proved Oil Natural Gas And Ngl Reserves Attributable To All Of Oil And Natural Gas Properties
PercentageOfProvedOilNaturalGasAndNGLReservesAttributableToAllOfOilAndNaturalGasProperties
1
CY2021Q4 talo Percentage Of Proved Oil Natural Gas And Ngl Reserves Attributable To All Of Oil And Natural Gas Properties
PercentageOfProvedOilNaturalGasAndNGLReservesAttributableToAllOfOilAndNaturalGasProperties
1
CY2023 srt Proved Developed And Undeveloped Reserve Net Energy Period Increase Decrease
ProvedDevelopedAndUndevelopedReserveNetEnergyPeriodIncreaseDecrease
12.2
CY2023 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
5.4
CY2023 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
24.2
CY2023 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
-18.1
CY2022 srt Proved Developed And Undeveloped Reserve Net Energy Period Increase Decrease
ProvedDevelopedAndUndevelopedReserveNetEnergyPeriodIncreaseDecrease
-21
CY2022 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
21.7
CY2022 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
-9
CY2022 srt Proved Developed And Undeveloped Reserves Sale Of Mineral In Place Energy
ProvedDevelopedAndUndevelopedReservesSaleOfMineralInPlaceEnergy
1.4
CY2022 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
11.2
CY2021 srt Proved Developed And Undeveloped Reserve Net Energy Period Increase Decrease
ProvedDevelopedAndUndevelopedReserveNetEnergyPeriodIncreaseDecrease
-1.4
CY2021 srt Proved Developed And Undeveloped Reserve Production Energy
ProvedDevelopedAndUndevelopedReserveProductionEnergy
23.5
CY2021 srt Proved Developed And Undeveloped Reserve Revision Of Previous Estimate Energy
ProvedDevelopedAndUndevelopedReserveRevisionOfPreviousEstimateEnergy
20.3
CY2021 srt Proved Developed And Undeveloped Reserve Extension And Discovery Energy
ProvedDevelopedAndUndevelopedReserveExtensionAndDiscoveryEnergy
1.8
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
3090491000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
1906752000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Production Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesProductionCosts
1868818000
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
2358368000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
1873453000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Development Costs
FutureNetCashFlowsRelatingToProvedOilAndGasReservesDevelopmentCosts
1422507000
CY2023Q4 talo Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows Before Income Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlowsBeforeIncomeTaxes
3976196000
CY2022Q4 talo Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows Before Income Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlowsBeforeIncomeTaxes
6894691000
CY2021Q4 talo Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows Before Income Taxes
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlowsBeforeIncomeTaxes
5204680000
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
589413000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
1114409000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Income Tax Expense
FutureNetCashFlowsRelatingToProvedOilAndGasReservesIncomeTaxExpense
676778000
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
3386783000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
5780282000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Net Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesNetCashFlows
4527902000
CY2023Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
343295000
CY2022Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
1411834000
CY2021Q4 srt Future Net Cash Flows Relating To Proved Oil And Gas Reserves Ten Percent Annual Discount For Estimated Timing Of Cash Flows
FutureNetCashFlowsRelatingToProvedOilAndGasReservesTenPercentAnnualDiscountForEstimatedTimingOfCashFlows
1087291000
CY2023Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
3043488000
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
4368448000
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
3440611000
CY2023 talo Discounted Future Net Cash Flows Discounting Rate Used To Derive Standard Measure Of Discounted Future Net Cash Flows
DiscountedFutureNetCashFlowsDiscountingRateUsedToDeriveStandardMeasureOfDiscountedFutureNetCashFlows
0.10
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
4368448000
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
3440611000
CY2020Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
1904934000
CY2023 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
1065814000
CY2022 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
1340400000
CY2021 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
SalesAndTransfersOfOilAndGasProducedNetOfProductionCosts
957576000
CY2023 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
-2835125000
CY2022 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
2388442000
CY2021 srt Net Increase Decrease In Sales And Transfer Prices And Production Costs
NetIncreaseDecreaseInSalesAndTransferPricesAndProductionCosts
2049980000
CY2023 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
-19877000
CY2022 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
-84391000
CY2021 srt Increase Decrease In Estimated Future Development Costs
IncreaseDecreaseInEstimatedFutureDevelopmentCosts
-57876000
CY2023 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
202503000
CY2022 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
20107000
CY2021 srt Previously Estimated Development Costs Incurred
PreviouslyEstimatedDevelopmentCostsIncurred
69125000
CY2023 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
518110000
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
392600000
CY2021 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
StandardizedMeasureOfDiscountedFutureNetCashFlowRelatingToProvedOilAndGasReservesAccretionOfDiscount
199849000
CY2023 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
357321000
CY2022 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
-327265000
CY2021 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
IncreaseDecreaseInFutureIncomeTaxExpenseEstimatesOnFutureCashFlowsRelatedToProvedOilAndGasReserves
-391834000
CY2023 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
2033852000
CY2022 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
0
CY2021 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
0
CY2023 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
0
CY2022 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
5218000
CY2021 srt Decrease Due To Sales Of Minerals In Place
DecreaseDueToSalesOfMineralsInPlace
0
CY2023 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
90244000
CY2022 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
202239000
CY2021 srt Extensions Discoveries Additions And Improved Recovery Less Related Costs
ExtensionsDiscoveriesAdditionsAndImprovedRecoveryLessRelatedCosts
45485000
CY2023 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
-484423000
CY2022 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
-255743000
CY2021 srt Revisions Of Previous Quantity Estimates
RevisionsOfPreviousQuantityEstimates
426357000
CY2023 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
-121751000
CY2022 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
-62534000
CY2021 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Other
StandardizedMeasureOfDiscountedFutureNetCashFlowOfProvedOilAndGasReservesOther
152167000
CY2023Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
3043488000
CY2022Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
4368448000
CY2021Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
3440611000

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