TALOS ENERGY INC.

Listed Company

TALOCIK 0001724965NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.78B

Net Income

$-494.29M

Total Assets

$5.55B

Equity

$2.17B

Shares Out

168.51M

Op. Cash Flow

$935.83M

Business

TALOS ENERGY INC. is a technically driven, independent energy company that explores for, develops and produces oil, natural gas and natural gas liquids through its upstream operations. It offers exploration, seismic imaging and reprocessing, drilling and appraisal, development and production services, plus facility operations and subsea tie-back infrastructure management. Its business is organized around Upstream activities with key operating areas in Deepwater and Shelf & Gulf Coast segments and an equity interest in Mexico’s Block 7/Zama unit. The Company markets production primarily from the U.S. Gulf of America and offshore Mexico through pipelines and commercial customers, including major oil and gas companies.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,780	1,974	1,458	1,652	1,245
Lease operating expense	547	566	390	308	284
Production taxes	418,000	1	2	3	3
Depreciation, depletion and amortization	1,056	1,024	664	415	396
Impairment of oil and natural gas properties	454	0	0	0	18
Accretion expense	125	118	86	56	58
General and administrative expense	155	202	158	100	79
Other operating (income) expense	2	−109	−52	34	32
Total operating expenses	2,340	1,801	1,248	916	870
Operating income (expense)	−560	173	210	736	375
Interest expense	−163	−188	−173	−125	−133
Price risk management activities income (expense)	105	−1	81	−272	−419
Equity method investment income (expense)	−2	−10	−3	14	0
Other income (expense)	16	−45	12	32	−7
Net income (loss) before income taxes	−604	−71	127	384	−185
Income tax benefit (expense)	109	−5	61	−3	2
Net income (loss)	−495	−76	187	—	—
Net income (loss) attributable to noncontrolling interest	−1	0	0	—	—
Net income (loss) attributable to Talos Energy Inc.	−494	−76	187	382	−183
Basic (per share)	−2.82	−0.44	1.56	4.63	−2.24
Diluted (per share)	−2.82	−0.44	1.55	4.56	−2.24
Basic (shares)	175	176	120	82	82
Diluted (shares)	175	176	121	84	82

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	363	108	34	44	70
Accounts receivable, net	323	404	—	—	—
Assets from price risk management activities	54	33	36	25	967,000
Prepaid assets	83	77	64	85	48
Other current assets	18	36	10	2	2
Total current assets	841	659	422	368	340
Proved properties	10,621	9,785	7,906	5,964	5,232
Unproved properties, not subject to amortization	481	587	268	155	219
Other property and equipment	23	35	34	31	29
Total property and equipment	11,124	10,407	8,209	6,150	5,481
Accumulated depreciation, depletion and amortization	−6,687	−5,192	−4,168	−3,507	−3,092
Total property and equipment, net	4,438	5,215	4,040	2,643	2,389
Restricted cash	76	106	102	0	—
Assets from price risk management activities	0	253,000	18	8	3
Equity method investments	112	111	146	2	0
Other well equipment	49	58	54	26	17
Notes receivable, net	20	18	16	0	—
Operating lease assets	9	11	11	6	6
Other assets	6	12	6	6	12
Total assets	5,552	6,192	4,816	3,059	2,767
Accounts payable	93	117	84	128	86
Accrued liabilities	290	327	228	220	130
Accrued royalties	60	78	55	52	59
Current portion of asset retirement obligations	112	97	78	40	60
Liabilities from price risk management activities	7	6	7	68	187
Accrued interest payable	49	49	42	36	38
Current portion of operating lease liabilities	4	4	3	2	2
Other current liabilities	30	45	49	60	33
Total current liabilities	645	723	579	607	601
Long-term debt	1,226	1,221	993	585	957
Asset retirement obligations	1,220	1,053	820	502	374
Liabilities from price risk management activities	0	4	795,000	8	14
Operating lease liabilities	12	15	18	15	16
Other long-term liabilities	281	416	251	176	45
Total liabilities	3,384	3,432	2,661	1,893	2,006
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock; $0.01 par value; 30,000,000 shares authorized and zero shares issued or outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Common stock; $0.01 par value; 270,000,000 shares authorized; 188,530,052 and 187,434,908 shares issued as of December 31, 2025 and 2024, respectively	2	2	1	826,000	819,000
Additional paid-in capital	3,297	3,275	2,549	1,700	1,677
Accumulated deficit	−918	−424	−348	−535	−917
Treasury stock, at cost; 20,015,369 and 7,417,385 shares as of December 31, 2025 and 2024, respectively	−212	−93	−48	0	—
Total Talos Energy Inc. stockholders' equity	2,168	2,760	2,155	1,166	761
Noncontrolling interest	139,000	0	—	—	—
Total equity	2,168	2,760	—	—	—
Total liabilities and stockholders' equity	5,552	6,192	4,816	3,059	2,767

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion, amortization and accretion expense	1,182	1,141	750	471	454
Amortization of deferred financing costs and original issue discount	8	9	15	14	13
Equity-based compensation expense	18	14	13	16	11
Net cash received (paid) on settled derivative instruments	81	5	−9	−426	−290
Loss (gain) on extinguishment of debt	0	60	0	2	13
Settlement of asset retirement obligations	−118	−109	−87	−70	−68
Loss (gain) on sale of assets	381,000	38,000	−66	303,000	—
Loss (gain) on sale of business	0	−100	0	0	—
Accounts receivable	85	9	20	15	−35
Other current assets	16	−7	7	−37	−19
Accounts payable	−23	−4	−60	24	−6
Other current liabilities	−67	1	−97	74	65
Other non-current assets and liabilities, net	−104	8	−76	−14	14
Net cash provided by (used in) operating activities	936	963	519	710	411
Exploration, development and other capital expenditures	−482	−509	−561	−323	−293
Cash acquired in excess of payments for acquisitions	2	0	18	0	—
Payments for acquisitions, net of cash acquired	−50	−936	0	−4	−5
Proceeds from (cash paid for) sale of property and equipment, net	2	1	73	2	5
Contributions to equity method investees	−5	−23	−29	−2	0
Investment in intangible assets	0	0	−12	0	0
Proceeds from sale of business	0	147	0	0	—
Other	−14	0	0	—	—
Net cash provided by (used in) investing activities	−547	−1,320	−513	−312	−294
Issuance of common stock	0	388	0	0	0
Issuance of senior notes	0	1,250	0	0	601
Redemption of senior notes	0	−897	−30	−18	−357
Proceeds from Bank Credit Facility	0	880	825	85	100
Repayment of Bank Credit Facility	0	−1,080	−625	−460	−365
Deferred financing costs	0	−33	−12	−189,000	−28
Other deferred payments	−21	−2	−2	0	−8
Payments of finance lease	−20	−18	−16	−25	−22
Purchase of treasury stock	−119	−45	−48	0	0
Employee stock awards tax withholdings	−4	−6	−7	−5	−3
Distribution to noncontrolling interest	−1	0	0	—	—
Net cash provided by (used in) financing activities	−165	436	85	−423	−82
Net increase (decrease) in cash, cash equivalents and restricted cash	225	78	92	−26	36
Capital expenditures included in accounts payable and accrued liabilities	85	86	115	106	46
Interest paid, net of amounts capitalized	118	131	130	92	69

Filings

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