XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.23.3

Acquisitions and Divestitures (Tables) - EnVen Energy Corporation | 9 Months Ended
--- | ---
Sep. 30, 2023
Business Acquisition [Line Items] |
Summary of Purchase Price | The following table summarizes the purchase price (in thousands except share and per share data):
Talos common stock |  | 43,799,890 |
Talos common stock price per share(1) | $ | 19.00 |
Common stock value | $ | 832,198 |
Cash consideration | $ | 207,313 |
Settlement of preexisting relationship | $ | 8,388 |
Total purchase price | $ | 1,047,899 |
(1) Represents the closing price of the Company’s common stock on February 13, 2023, the date of the closing of the EnVen Acquisition.
Summary of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed | The following table presents the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their fair values on February 13, 2023 (in thousands):
Current assets | $ | 238,293 |
Property and equipment |  | 1,459,916 |
Other long-term assets: |  |
Restricted cash |  | 100,753 |
Notes receivable, net |  | 14,844 |
Other long-term assets |  | 48,899 |
Current liabilities: |  |
Current portion of long-term debt |  | (33,234 | )
Current portion of asset retirement obligations |  | (7,079 | )
Other current liabilities |  | (123,399 | )
Long-term liabilities: |  |
Long-term debt |  | (233,836 | )
Asset retirement obligations |  | (251,779 | )
Deferred tax liabilities |  | (150,504 | )
Other long-term liabilities |  | (14,975 | )
Allocated purchase price | $ | 1,047,899 |
Summary Of Revenues And Net Income Attributable To Acquisition | The following table presents revenue and net income (loss) attributable to the EnVen Acquisition for the three months ended September 30, 2023 and the period from February 13, 2023 to September 30, 2023 (in thousands):
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023 |
Revenue | $ | 126,358 |  | $ | 301,999 |
Net income (loss) | $ | 37,790 |  | $ | 57,578 |
Supplemental Proforma Information | This information does not purport to be indicative of results of operations that would have occurred had the EnVen Acquisition occurred on January 1, 2022, nor is such information indicative of any expected future results of operations (in thousands, except for the per share data).
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2023 |  | 2022 |  | 2023 |  | 2022 |
Revenue | $ | 383,136 |  | $ | 552,168 |  | $ | 1,124,970 |  | $ | 1,888,702 |
Net income (loss) | $ | (1,483 | ) | $ | 334,368 |  | $ | 131,421 |  | $ | 404,026 |
Basic net income (loss) per common share | $ | (0.01 | ) | $ | 2.65 |  | $ | 1.05 |  | $ | 3.20 |
Diluted net income (loss) per common share | $ | (0.01 | ) | $ | 2.62 |  | $ | 1.04 |  | $ | 3.18 |

X
- Definition The tabular disclosure of revenues and net income attributable to acquisition. + References No definition available. + Details
Name: | talo_SummaryOfRevenuesAndNetIncomeAttributableToAcquisitionTableTextBlock
Namespace Prefix: | talo_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of acquisition of assets or a business through noncash (or part noncash) transactions. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Disclosure may include the equity interest acquired, value of assets acquired, value of liabilities acquired, net monetary assets acquired, number of shares, warrants or options issued as consideration for a business or asset acquired and other information necessary to a fair presentation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-5 + Details
Name: | us-gaap_ScheduleOfNoncashOrPartNoncashAcquisitionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=talo_EnvenEnergyCorporationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |