TALOS ENERGY INC
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(11,885) | $101,434 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation, depletion, amortization and accretion expense | 836,057 | 543,906 |
| Amortization of deferred financing costs and original issue discount | 6,930 | 11,247 |
| Equity-based compensation expense | 8,859 | 9,080 |
| Price risk management activities (income) expense | (41,531) | 13,668 |
| Net cash received (paid) on settled derivative instruments | (14,941) | (10,474) |
| Equity method investment (income) expense | 9,054 | (2,938) |
| Loss (gain) on extinguishment of debt | 60,256 | — |
| Settlement of asset retirement obligations | (86,074) | (71,097) |
| Loss (gain) on sale of assets | (10,069) | (66,115) |
| Loss (gain) on sale of business | (100,482) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 24,183 | 3,821 |
| Other current assets | (34,649) | (12,992) |
| Accounts payable | 12,624 | (30,063) |
| Other current liabilities | (41,246) | (89,511) |
| Other non-current assets and liabilities, net | (3,830) | (57,155) |
| Net cash provided by (used in) operating activities | 613,256 | 342,811 |
| Cash flows from investing activities: | ||
| Exploration, development and other capital expenditures | (355,197) | (438,506) |
| Cash acquired in excess of payments for acquisitions | — | 17,617 |
| Payments for acquisitions, net of cash acquired | (936,214) | — |
| Proceeds from (cash paid for) sale of property and equipment, net | 1,017 | 66,183 |
| Contributions to equity method investees | (19,627) | (29,372) |
| Investment in intangible assets | — | (7,796) |
| Proceeds from sales of businesses | 141,997 | — |
| Net cash provided by (used in) investing activities | (1,168,024) | (391,874) |
| Cash flows from financing activities: | ||
| Issuance of common stock | 387,717 | — |
| Issuance of senior notes | 1,250,000 | — |
| Redemption of senior notes | (897,116) | (15,000) |
| Proceeds from Bank Credit Facility | 820,000 | 675,000 |
| Repayment of Bank Credit Facility | (895,000) | (460,000) |
| Deferred financing costs | (29,886) | (11,775) |
| Other deferred payments | (1,791) | (841) |
| Payments of finance lease | (13,238) | (12,117) |
| Purchase of treasury stock | (45,181) | (47,504) |
| Employee stock awards tax withholdings | (5,791) | (7,454) |
| Net cash provided by (used in) financing activities | 569,714 | 120,309 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 14,946 | 71,246 |
| Cash, cash equivalents and restricted cash: | ||
| Balance, beginning of period | 135,999 | 44,145 |
| Balance, end of period | $150,945 | $115,391 |
| Supplemental non-cash transactions: | ||
| Capital expenditures included in accounts payable and accrued liabilities | $110,201 | $90,688 |
| Supplemental cash flow information: | ||
| Interest paid, net of amounts capitalized | $127,367 | $108,931 |
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