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Acquisitions and Divestitures (Tables) | 3 Months Ended
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Mar. 31, 2024
QuarterNorth |
Business Acquisition [Line Items] |
Summary of Purchase Price | The following table summarizes the purchase price (in thousands except share and per share data):
Shares of Talos common stock |  | 24,349,452 |
Talos common stock price(1) | $ | 13.25 |
Common stock value | $ | 322,630 |
Cash consideration | $ | 1,247,419 |
Total purchase price(2) | $ | 1,570,049 |
(1) Represents the closing price of the Company’s common stock on March 4, 2024, the date of the closing of the QuarterNorth Acquisition. Total purchase price net of $331.4 million cash and cash equivalents acquired at closing is $1,238.7 million.
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 March 4, 2024 (in thousands):
Cash and cash equivalents | $ | 331,374 |
Other current assets |  | 160,978 |
Property and equipment |  | 1,621,507 |
Other long-term assets |  | 20,780 |
Current liabilities: |  |
Current portion of asset retirement obligations |  | (6,748 | )
Other current liabilities |  | (194,278 | )
Long-term liabilities: |  |
Asset retirement obligations |  | (192,771 | )
Deferred tax liabilities |  | (168,481 | )
Other long-term liabilities |  | (2,312 | )
Allocated purchase price | $ | 1,570,049 |
Summary Of Revenues And Net Income Attributable To Acquisition | The following table presents revenue and net income attributable to the QuarterNorth Acquisition for the period from March 4, 2024 to March 31, 2024:
| Three Months Ended March 31, 2024 |
Revenue | $ | 43,949 |
Net income (loss) | $ | 6,749 |
Supplemental Proforma Information | This information does not purport to be indicative of results of operations that would have occurred had the QuarterNorth Acquisition occurred on January 1, 2023, nor is such information indicative of any expected future results of operations.
| Three Months Ended March 31, |
| 2024 |  | 2023 |
Revenue | $ | 557,201 |  | $ | 482,951 |
Net income (loss) | $ | (110,459 | ) | $ | 74,320 |
Basic net income (loss) per common share | $ | (0.60 | ) | $ | 0.45 |
Diluted net income (loss) per common share | $ | (0.60 | ) | $ | 0.45 |
EnVen Energy Corporation |
Business Acquisition [Line Items] |
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 period from February 13, 2023 to March 31, 2023 (in thousands):
| Three Months Ended March 31, 2023 |
Revenue | $ | 62,059 |
Net income (loss) | $ | (6,090 | )
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 March 31, 2023 |
Revenue | $ | 374,625 |
Net income (loss) | $ | 118,090 |
Basic net income (loss) per common share | $ | 0.93 |
Diluted net income (loss) per common share | $ | 0.92 |

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