$TALO
TALOS ENERGY INC.

2019 Q1 Form 10-Q Financial Statement

#000156459019017443 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $178.7M $145.9M
YoY Change 22.53% 43.24%
Cost Of Revenue $41.40M $25.30M
YoY Change 63.64%
Gross Profit $137.3M $120.5M
YoY Change 13.94%
Gross Profit Margin 76.83% 82.62%
Selling, General & Admin $42.20M $18.20M
YoY Change 131.87%
% of Gross Profit 30.74% 15.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.59M $49.04M
YoY Change 31.7%
% of Gross Profit 47.04% 40.7%
Operating Expenses $116.4M $72.00M
YoY Change 61.67%
Operating Profit $18.37M $48.58M
YoY Change -62.19% 566.72%
Interest Expense $25.22M $19.74M
YoY Change 27.74%
% of Operating Profit 137.29% 40.63%
Other Income/Expense, Net $433.0K $191.0K
YoY Change 126.7%
Pretax Income -$116.0M -$22.94M
YoY Change 405.58%
Income Tax -$6.359M $0.00
% Of Pretax Income
Net Earnings -$109.6M -$22.94M
YoY Change 377.86% -166.57%
Net Earnings / Revenue -61.35% -15.73%
Basic Earnings Per Share -$2.02 -$0.73
Diluted Earnings Per Share -$2.02 -$0.73
COMMON SHARES
Basic Shares Outstanding 54.16M 31.24M
Diluted Shares Outstanding 54.16M 31.24M

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.40M
YoY Change
Cash & Equivalents $46.98M $14.54M
Short-Term Investments $9.700M
Other Short-Term Assets $32.00M
YoY Change
Inventory
Prepaid Expenses
Receivables $87.20M
Other Receivables $64.20M
Total Short-Term Assets $238.6M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.179B
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.200M
YoY Change
Other Assets $17.90M
YoY Change
Total Long-Term Assets $2.201B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $238.6M
Total Long-Term Assets $2.201B
Total Assets $2.440B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.60M
YoY Change
Accrued Expenses $237.9M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $15.30M
YoY Change
Total Short-Term Liabilities $424.6M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $741.4M
YoY Change
Other Long-Term Liabilities $374.0M
YoY Change
Total Long-Term Liabilities $1.115B
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $424.6M
Total Long-Term Liabilities $1.115B
Total Liabilities $1.540B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $900.0M -$77.13M
YoY Change
Total Liabilities & Shareholders Equity $2.440B
YoY Change

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$109.6M -$22.94M
YoY Change 377.86% -166.57%
Depreciation, Depletion And Amortization $64.59M $49.04M
YoY Change 31.7%
Cash From Operating Activities $41.12M $39.65M
YoY Change 3.73%
INVESTING ACTIVITIES
Capital Expenditures -$102.4M -$30.00M
YoY Change 241.33%
Acquisitions $32.92M
YoY Change
Other Investing Activities -$32.90M $0.00
YoY Change
Cash From Investing Activities -$135.3M -$30.01M
YoY Change 350.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000K -28.52M
YoY Change -100.02%
NET CHANGE
Cash From Operating Activities 41.12M 39.65M
Cash From Investing Activities -135.3M -30.01M
Cash From Financing Activities 5.000K -28.52M
Net Change In Cash -94.19M -18.89M
YoY Change 398.57%
FREE CASH FLOW
Cash From Operating Activities $41.12M $39.65M
Capital Expenditures -$102.4M -$30.00M
Free Cash Flow $143.5M $69.65M
YoY Change 106.08%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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IncomeTaxReceivable
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CY2019Q1 us-gaap Capitalized Costs Wells And Related Equipment And Facilities
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CY2019Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2018Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2018Q1 us-gaap Business Acquisitions Pro Forma Revenue
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CY2019Q1 talo Capitalized Overhead Costs
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CY2018Q1 talo Capitalized Overhead Costs
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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CY2018Q4 us-gaap Liabilities Current
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CY2018Q4 us-gaap Long Term Debt Noncurrent
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CY2018Q4 us-gaap Asset Retirement Obligations Noncurrent
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CY2018Q4 us-gaap Liabilities
Liabilities
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CY2018Q4 us-gaap Commitments And Contingencies
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Amortization Of Financing Costs And Discounts
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CY2019Q1 us-gaap Share Based Compensation
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CY2018Q1 us-gaap Share Based Compensation
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CY2018Q1 talo Payments For Proceeds From Settled Derivative Instruments Operating Activities
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CY2018Q1 us-gaap Costs And Expenses
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CY2018Q1 us-gaap Interest Expense
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CY2018Q1 us-gaap Gain Loss From Price Risk Management Activity
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CY2018Q1 us-gaap Asset Retirement Obligation Cash Paid To Settle
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CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2019Q1 us-gaap Increase Decrease In Other Current Assets
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CY2018Q1 us-gaap Increase Decrease In Other Current Assets
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CY2019Q1 us-gaap Increase Decrease In Accounts Payable
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CY2018Q1 us-gaap Increase Decrease In Accounts Payable
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CY2019Q1 us-gaap Increase Decrease In Other Current Liabilities
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CY2018Q1 us-gaap Increase Decrease In Other Current Liabilities
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CY2019Q1 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2018Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q1 talo Repayments Of Senior Notes And Other Long Term Debt
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CY2018Q1 talo Repayments Of Senior Notes And Other Long Term Debt
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CY2019Q1 us-gaap Proceeds From Bank Debt
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CY2019Q1 us-gaap Repayments Of Bank Debt
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CY2019Q1 talo Other Deferred Payments
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CY2019Q1 us-gaap Finance Lease Principal Payments
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CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2019Q1 us-gaap Business Acquisitions Pro Forma Revenue
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CY2018Q1 talo Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
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CY2018Q4 us-gaap Asset Retirement Obligation
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CY2019Q1 talo Fair Value Of Asset Retirement Obligations Assumed
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CY2019Q1 us-gaap Finance Lease Liability Noncurrent Statement Of Financial Position Extensible List
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
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P4Y
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CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.219
CY2019Q1 us-gaap Finance Lease Interest Payment On Liability
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CY2019Q1 talo Finance Lease Payments Use
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CY2019Q1 us-gaap Operating Lease Payments
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CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019Q1 us-gaap Debt Instrument Carrying Amount
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CY2018Q4 us-gaap Debt Instrument Carrying Amount
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16004000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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17191000
CY2019Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
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CY2018Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
655304000
CY2019Q1 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 March 31, 2019.
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000
CY2019Q1 talo Capitalized Share Based Compensation Costs In To Oil And Gas Producing Activities
CapitalizedShareBasedCompensationCostsInToOilAndGasProducingActivities
1000000
CY2018Q1 talo Capitalized Share Based Compensation Costs In To Oil And Gas Producing Activities
CapitalizedShareBasedCompensationCostsInToOilAndGasProducingActivities
200000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0548
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4762000
CY2018Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
3528000
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4762000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3528000
CY2019Q1 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
1.00
CY2019Q1 talo Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
6989000
CY2019Q1 talo Operating And Finance Lease Liability Current
OperatingAndFinanceLeaseLiabilityCurrent
1276000
CY2019Q1 talo Operating And Finance Lease Liability Noncurrent
OperatingAndFinanceLeaseLiabilityNoncurrent
15620000
CY2019Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3311000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
141162000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46977000
CY2018Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3547000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33433000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14542000

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