$TALO
TALOS ENERGY INC.

2018 Q2 Form 10-Q Financial Statement

#000156459018020821 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $203.9M $95.43M
YoY Change 113.68%
Cost Of Revenue $34.60M $29.30M
YoY Change 18.09%
Gross Profit $169.3M $66.20M
YoY Change 155.74%
Gross Profit Margin 83.03% 69.37%
Selling, General & Admin $52.90M $18.40M
YoY Change 187.5%
% of Gross Profit 31.25% 27.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.73M $86.60M
YoY Change -21.79%
% of Gross Profit 40.0% 130.82%
Operating Expenses $130.1M $59.80M
YoY Change 117.56%
Operating Profit $39.21M $6.314M
YoY Change 521.02%
Interest Expense $21.68M $20.81M
YoY Change 4.2%
% of Operating Profit 55.29% 329.51%
Other Income/Expense, Net -$114.1M $18.29M
YoY Change -723.86%
Pretax Income -$74.91M $24.61M
YoY Change -404.43%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$74.91M $24.61M
YoY Change -404.43%
Net Earnings / Revenue -36.74% 25.79%
Basic Earnings Per Share -$1.69 $0.79
Diluted Earnings Per Share -$1.69 $0.79
COMMON SHARES
Basic Shares Outstanding 44.34M 31.24M
Diluted Shares Outstanding 44.34M 31.24M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.40M
YoY Change
Cash & Equivalents $78.86M $42.05M
Short-Term Investments $500.0K
Other Short-Term Assets $3.910M
YoY Change
Inventory $0.00
Prepaid Expenses $51.70M
Receivables $100.8M
Other Receivables $31.70M
Total Short-Term Assets $268.7M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.998B
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K
YoY Change
Other Assets $8.143M
YoY Change
Total Long-Term Assets $2.015B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $268.7M
Total Long-Term Assets $2.015B
Total Assets $2.284B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.73M
YoY Change
Accrued Expenses $155.9M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $434.0K
YoY Change
Total Short-Term Liabilities $495.6M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $628.0M
YoY Change
Other Long-Term Liabilities $122.8M
YoY Change
Total Long-Term Liabilities $750.8M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $495.6M
Total Long-Term Liabilities $750.8M
Total Liabilities $1.598B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$638.3M
YoY Change
Common Stock $1.324B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $685.8M
YoY Change
Total Liabilities & Shareholders Equity $2.284B
YoY Change

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$74.91M $24.61M
YoY Change -404.43%
Depreciation, Depletion And Amortization $67.73M $86.60M
YoY Change -21.79%
Cash From Operating Activities $67.50M $85.30M
YoY Change -20.87%
INVESTING ACTIVITIES
Capital Expenditures -$111.0M -$62.50M
YoY Change 77.6%
Acquisitions
YoY Change
Other Investing Activities $293.0M -$2.200M
YoY Change -13418.18%
Cash From Investing Activities $182.0M -$64.80M
YoY Change -380.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -184.0M -11.90M
YoY Change 1446.22%
NET CHANGE
Cash From Operating Activities 67.50M 85.30M
Cash From Investing Activities 182.0M -64.80M
Cash From Financing Activities -184.0M -11.90M
Net Change In Cash 65.50M 8.600M
YoY Change 661.63%
FREE CASH FLOW
Cash From Operating Activities $67.50M $85.30M
Capital Expenditures -$111.0M -$62.50M
Free Cash Flow $178.5M $147.8M
YoY Change 20.77%

Facts In Submission

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0
talo Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
1.23
talo Unweighted Average First Day Of Month Commodity Price For Crude Oil For Prior Twelve Months
UnweightedAverageFirstDayOfMonthCommodityPriceForCrudeOilForPriorTwelveMonths
60.03
talo Unweighted Average First Day Of Month Commodity Price For Natural Gas For Prior Twelve Months
UnweightedAverageFirstDayOfMonthCommodityPriceForNaturalGasForPriorTwelveMonths
2.90
talo Unweighted Average First Day Of Month Commodity Price For Natural Gas Liquids For Prior Twelve Months
UnweightedAverageFirstDayOfMonthCommodityPriceForNaturalGasLiquidsForPriorTwelveMonths
28.26
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0
talo Capitalized Overhead Costs
CapitalizedOverheadCosts
6500000
CY2017Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
214733000
talo Fair Value Of Asset Retirement Obligations Assumed
FairValueOfAssetRetirementObligationsAssumed
220637000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
43896000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
120000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
8532000
CY2018Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
414378000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
402062000
CY2017Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
403000000
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2019-02-28
CY2017 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2019-02-28
CY2017Q2 us-gaap Derivative Cost Of Hedge Net Of Cash Received
DerivativeCostOfHedgeNetOfCashReceived
9200000
us-gaap Derivative Cost Of Hedge Net Of Cash Received
DerivativeCostOfHedgeNetOfCashReceived
13700000
CY2018Q2 us-gaap Derivative Cost Of Hedge
DerivativeCostOfHedge
33600000
us-gaap Derivative Cost Of Hedge
DerivativeCostOfHedge
54100000
CY2018Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
8906000
CY2018Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
240000000
CY2018Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
628402000
CY2017Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
697558000
CY2018Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3900000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4500000
talo Payments Of Work Fees To Debt Holders
PaymentsOfWorkFeesToDebtHolders
9300000
us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
The indenture governing the 11.00% Senior Secured Notes applies certain limitations on the Company’s ability and the ability of its subsidiaries to, among other things, (i) incur additional indebtedness or issue certain preferred shares; (ii) pay dividends and make certain other restricted payments; (iii) create restrictions on the payment of dividends or other distributions to the Company from its restricted subsidiaries; (iv) create liens on certain assets to secure debt; (v) make certain investments; (vi) engage in sales of assets and subsidiary stock; (vii) transfer all or substantially all of its assets or enter into merger or consolidation transactions; and (viii) engage in transactions with affiliates. The 11.00% Senior Secured Notes contain customary quarterly and annual reporting, financial and administrative covenants. The Company was in compliance with all debt covenants at June 30, 2018.
CY2018Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
600000000
CY2018Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2018Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
213029000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0
CY2018Q2 us-gaap Capital Lease Obligations
CapitalLeaseObligations
99700000

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