TALOS ENERGY INC
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
TALO$14.87+1.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(112,439) | $89,860 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation, depletion, amortization and accretion expense | 242,567 | 166,737 |
| Amortization of deferred financing costs and original issue discount | 2,598 | 4,148 |
| Equity-based compensation expense | 2,754 | 3,938 |
| Price risk management activities (income) expense | 87,062 | (58,937) |
| Net cash received (paid) on settled derivative instruments | (3,494) | (12,323) |
| Equity method investment (income) expense | 8,054 | (7,443) |
| Loss (gain) on extinguishment of debt | 60,256 | — |
| Settlement of asset retirement obligations | (27,907) | (10,113) |
| Loss (gain) on sale of business | (86,940) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 8,020 | 36,821 |
| Other current assets | (5,818) | 7,735 |
| Accounts payable | 10,707 | (4,894) |
| Other current liabilities | (65,249) | (116,637) |
| Other non-current assets and liabilities, net | (23,745) | (36,035) |
| Net cash provided by (used in) operating activities | 96,426 | 62,857 |
| Cash flows from investing activities: | ||
| Exploration, development and other capital expenditures | (146,077) | (103,962) |
| Proceeds from (cash paid for) acquisitions, net of cash acquired | (916,045) | 17,617 |
| Contributions to equity method investees | (17,519) | (12,835) |
| Investment in intangible assets | — | (7,796) |
| Proceeds from sales of businesses | 141,997 | — |
| Net cash provided by (used in) investing activities | (937,644) | (106,976) |
| Cash flows from financing activities: | ||
| Issuance of common stock | 387,717 | — |
| Issuance of senior notes | 1,250,000 | — |
| Redemption of senior notes | (897,116) | — |
| Proceeds from Bank Credit Facility | 670,000 | 275,000 |
| Repayment of Bank Credit Facility | (545,000) | (110,000) |
| Deferred financing costs | (25,505) | (11,346) |
| Other deferred payments | (672) | — |
| Payments of finance lease | (4,324) | (3,987) |
| Purchase of treasury stock | — | (25,173) |
| Employee stock awards tax withholdings | (5,520) | (7,378) |
| Net cash provided by (used in) financing activities | 829,580 | 117,116 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (11,638) | 72,997 |
| Cash, cash equivalents and restricted cash: | ||
| Balance, beginning of period | 135,999 | 44,145 |
| Balance, end of period | $124,361 | $117,142 |
| Supplemental non-cash transactions: | ||
| Capital expenditures included in accounts payable and accrued liabilities | $101,794 | $174,597 |
| Supplemental cash flow information: | ||
| Interest paid, net of amounts capitalized | $55,224 | $40,988 |
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