2024 Q2 Form 10-Q Financial Statement

#000095017024053731 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $549.2M $429.9M $322.6M
YoY Change 49.55% 33.28% -22.0%
Cost Of Revenue $157.8M $135.7M $81.97M
YoY Change 55.04% 65.58% 35.12%
Gross Profit $391.4M $294.2M $240.6M
YoY Change 47.45% 22.27% -31.82%
Gross Profit Margin 71.27% 68.43% 74.59%
Selling, General & Admin $41.62M $20.68M $41.18M
YoY Change 40.27% -49.77% -16.07%
% of Gross Profit 10.63% 7.03% 17.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $259.1M $215.7M $147.3M
YoY Change 52.59% 46.39% 49.81%
% of Gross Profit 66.2% 73.3% 61.23%
Operating Expenses $330.4M $177.2M $210.8M
YoY Change 49.16% -15.92% 30.16%
Operating Profit $54.37M $67.85M $7.852M
YoY Change 34.5% 764.05% -96.39%
Interest Expense $48.98M $50.85M $37.58M
YoY Change 7.34% 35.29% 19.34%
% of Operating Profit 90.09% 74.94% 478.62%
Other Income/Expense, Net $4.164M -$55.90M $6.666M
YoY Change 161.72% -938.52% -76.31%
Pretax Income $11.40M -$134.0M $43.32M
YoY Change -44.59% -409.38% -164.74%
Income Tax -$1.000M -$21.60M -$46.50M
% Of Pretax Income -8.77% -107.35%
Net Earnings $12.38M -$112.4M $89.86M
YoY Change -9.48% -225.13% -235.25%
Net Earnings / Revenue 2.25% -26.15% 27.86%
Basic Earnings Per Share $0.07 -$0.71 $0.85
Diluted Earnings Per Share $0.07 -$0.71 $0.84
COMMON SHARES
Basic Shares Outstanding 183.9M 158.6M 126.4M
Diluted Shares Outstanding 183.7M 158.5M 107.0M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.21M $39.75M $70.72M
YoY Change -14.02% -43.79% -9.73%
Cash & Equivalents $37.80M $21.00M $16.17M
Short-Term Investments $16.41M $18.75M $54.55M
Other Short-Term Assets $18.12M $16.04M $11.90M
YoY Change 5.05% 34.74% 558.24%
Inventory
Prepaid Expenses $79.87M $75.78M $60.13M
Receivables $243.8M $248.9M $169.9M
Other Receivables $169.8M $160.5M $98.50M
Total Short-Term Assets $565.8M $540.9M $411.1M
YoY Change 28.54% 31.58% 2.31%
LONG-TERM ASSETS
Property, Plant & Equipment $5.481B $5.573B $4.158B
YoY Change 32.47% 34.06% 75.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $109.7M $108.0M $22.02M
YoY Change 388.89% 390.56% 726.38%
Other Assets $5.964M $10.49M $18.14M
YoY Change -65.94% -42.14% 54.01%
Total Long-Term Assets $5.796B $5.893B $4.385B
YoY Change 32.78% 34.41% 82.03%
TOTAL ASSETS
Total Short-Term Assets $565.8M $540.9M $411.1M
Total Long-Term Assets $5.796B $5.893B $4.385B
Total Assets $6.362B $6.434B $4.796B
YoY Change 32.39% 34.17% 70.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $91.87M $136.8M $184.5M
YoY Change -50.12% -25.82% 102.36%
Accrued Expenses $315.2M $272.2M $201.4M
YoY Change 43.0% 35.2% 58.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $33.20M
YoY Change -100.0% -100.0% 447.87%
Total Short-Term Liabilities $711.6M $696.9M $671.2M
YoY Change 2.86% 3.82% -4.88%
LONG-TERM LIABILITIES
Long-Term Debt $1.436B $1.534B $977.0M
YoY Change 43.57% 57.0% 5.61%
Other Long-Term Liabilities $389.1M $391.8M $284.4M
YoY Change 37.29% 37.78% 699.35%
Total Long-Term Liabilities $1.825B $1.926B $1.261B
YoY Change 42.19% 52.67% 31.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $711.6M $696.9M $671.2M
Total Long-Term Liabilities $1.825B $1.926B $1.261B
Total Liabilities $3.636B $3.682B $2.735B
YoY Change 32.51% 34.64% 29.29%
SHAREHOLDERS EQUITY
Retained Earnings -$447.8M -$460.2M -$445.2M
YoY Change 3.77% 3.36% -54.73%
Common Stock $3.265B $3.260B $2.533B
YoY Change 28.48% 28.71% 50.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.726B $2.752B $2.061B
YoY Change
Total Liabilities & Shareholders Equity $6.362B $6.434B $4.796B
YoY Change 32.39% 34.17% 70.64%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $12.38M -$112.4M $89.86M
YoY Change -9.48% -225.13% -235.25%
Depreciation, Depletion And Amortization $259.1M $215.7M $147.3M
YoY Change 52.59% 46.39% 49.81%
Cash From Operating Activities $289.4M $96.43M $62.86M
YoY Change 35.07% 53.41% -44.67%
INVESTING ACTIVITIES
Capital Expenditures $123.1M $146.1M $111.8M
YoY Change -39.42% 30.71% -307.04%
Acquisitions $916.0M -$17.62M
YoY Change -5299.78% -603.34%
Other Investing Activities -$2.108M -$791.6M $4.782M
YoY Change -13.07% -16653.05% -188.49%
Cash From Investing Activities -$125.2M -$937.6M -$107.0M
YoY Change -39.11% 776.5% 80.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -146.4M 829.6M 117.1M
YoY Change 1915.69% 608.34% -356.09%
NET CHANGE
Cash From Operating Activities 289.4M 96.43M 62.86M
Cash From Investing Activities -125.2M -937.6M -107.0M
Cash From Financing Activities -146.4M 829.6M 117.1M
Net Change In Cash 17.80M -11.64M 73.00M
YoY Change 1212.98% -115.94% 759.19%
FREE CASH FLOW
Cash From Operating Activities $289.4M $96.43M $62.86M
Capital Expenditures $123.1M $146.1M $111.8M
Free Cash Flow $166.3M -$49.65M -$48.90M
YoY Change 1405.81% 1.53% -129.18%

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CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
CY2024Q1 us-gaap Finance Lease Principal Payments
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4324000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3987000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25173000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5520000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7378000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
829580000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
117116000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11638000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
72997000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135999000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
44145000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124361000
CY2023Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-116637000
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
23745000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
36035000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
96426000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
62857000
CY2024Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
146077000
CY2023Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
103962000
CY2024Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
916045000
CY2023Q1 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
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CY2024Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
17519000
CY2023Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
12835000
CY2024Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
7796000
CY2024Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
141997000
CY2023Q1 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106976000
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
387717000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2024Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1250000000
CY2023Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0
CY2024Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
897116000
CY2023Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
CY2024Q1 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
670000000
CY2024Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
545000000
CY2023Q1 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
110000000
CY2024Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
25505000
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11346000
CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-672000
CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4324000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3987000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25173000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5520000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7378000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
829580000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
117116000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11638000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
72997000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135999000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124361000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
117142000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
101794000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
174597000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
117142000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
101794000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
174597000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
55224000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
40988000
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-11-14
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21001000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33637000
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
103360000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102362000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124361000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135999000
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34500000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
55224000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
40988000
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2017-11-14
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21001000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33637000
CY2024Q1 us-gaap Restricted Cash Noncurrent
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103360000
CY2023Q4 us-gaap Restricted Cash Noncurrent
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102362000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124361000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135999000
CY2024Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
34500000
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3372000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3708000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
897000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
908000
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12652000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
32985000
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
616000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
363000
CY2024Q1 us-gaap Sublease Income
SubleaseIncome
359000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2024Q1 us-gaap Lease Cost
LeaseCost
17178000
CY2023Q1 us-gaap Lease Cost
LeaseCost
37964000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12676000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11418000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3543000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2666000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18271000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18211000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
21814000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20877000
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
166261000
CY2024Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
18279000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
17834000
CY2024Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
126461000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
131230000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
144740000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
149064000
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3372000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3708000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
897000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
908000
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12652000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
32985000
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
616000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
363000
CY2024Q1 us-gaap Sublease Income
SubleaseIncome
359000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2024Q1 us-gaap Lease Cost
LeaseCost
17178000
CY2023Q1 us-gaap Lease Cost
LeaseCost
37964000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12676000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11418000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3543000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2666000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18271000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18211000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
21814000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
20877000
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
166261000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
166261000
CY2024Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
18279000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
17834000
CY2024Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
126461000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
131230000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
144740000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
149064000
CY2024Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3372000
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3708000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1217000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1265000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1601000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12971000
CY2024Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3372000
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3708000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1601000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12971000
CY2024Q1 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 March 31, 2024 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 March 31, 2024 would have been $5.5 million.
CY2024Q1 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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5500000
CY2024Q1 us-gaap Equity Method Investments
EquityMethodInvestments
108036000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
146049000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
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1575000000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1066041000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
41048000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
40367000
CY2024Q1 us-gaap Long Term Debt
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1533952000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1025674000
CY2024Q1 us-gaap Long Term Debt Current
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0
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
33060000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1533952000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
992614000
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4615000
CY2024Q1 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 March 31, 2024 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 March 31, 2024 would have been $5.5 million.
CY2024Q1 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
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5500000
CY2024Q1 us-gaap Equity Method Investments
EquityMethodInvestments
108036000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
146049000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1575000000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1066041000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
41048000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
40367000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
1533952000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
1025674000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
33060000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1533952000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
992614000
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
7191000
CY2024Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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1861000
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3253000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2754000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3938000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
897226000
CY2024Q1 talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
199519000
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
36000
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
27907000
CY2024Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
26903000
CY2024Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
13555000
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
1109332000
CY2024Q1 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
71799000
CY2024Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
1037533000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-21600000
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.161
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.161
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-46500000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
897226000
CY2024Q1 talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
199519000
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
36000
CY2024Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
27907000
CY2024Q1 us-gaap Asset Retirement Obligation Accretion Expense
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