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TALOS ENERGY INC

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

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About this filing

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.

Sep 30, 2024 · Filed Nov 12, 2024

TALO$14.84+1.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number:001-38497

Talos Energy Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware82-3532642
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
333 Clay Street, Suite 3300Houston, TX77002
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (713)328-3000

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common StockTALONew York Stock Exchange
Preferred Stock Purchase RightsNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

As of November 5, 2024, the registrant had 179,961,333 shares of common stock, $0.01 par value per share, outstanding.

TABLE OF CONTENTS

Page
GLOSSARY3
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS5
PART I — FINANCIAL INFORMATION
Item 1.Financial Statements7
Condensed Consolidated Balance Sheets7
Condensed Consolidated Statements of Operations8
Condensed Consolidated Statements of Changes in Stockholders’ Equity9
Condensed Consolidated Statements of Cash Flows10
Notes to Condensed Consolidated Financial Statements11
Note 1 — Organization, Nature of Business and Basis of Presentation11
Note 2 — Acquisitions and Divestitures12
Note 3 — Property, Plant and Equipment15
Note 4 — Leases15
Note 5 — Financial Instruments16
Note 6 — Equity Method Investments19
Note 7 — Debt19
Note 8 — Asset Retirement Obligations21
Note 9 — Employee Benefits Plans and Share-Based Compensation22
Note 10 — Income Taxes23
Note 11 — Income (Loss) Per Share24
Note 12 — Related Party Transactions24
Note 13 — Commitments and Contingencies25
Note 14 — Segment Information26
Note 15 — Subsequent Events29
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations30
Item 3.Quantitative and Qualitative Disclosures About Market Risk42
Item 4.Controls and Procedures42
PART II — OTHER INFORMATION
Item 1.Legal Proceedings44
Item 1A.Risk Factors45
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds47
Item 3.Defaults Upon Senior Securities47
Item 4.Mine Safety Disclosures47
Item 5.Other Information47
Item 6.Exhibits48
Signatures50
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.