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Employee Benefits Plans and Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Employee Benefits Plans and Share Based Compensation [Line Items]  
Schedule of Acquisition Severance Costs

The following table summarizes severance accrual activity in connection the EnVen Acquisition, QuarterNorth Acquisition and TLCS Divestiture included in “Other current liabilities” and “Other long-term liabilities” on the Condensed Consolidated Balance Sheets as of March 31, 2024 (in thousands):

Severance accrual at December 31, 2023

$

6,295

 

Accrual additions

 

17,914

 

Benefit payments

 

(10,258

)

Severance accrual at March 31, 2024

 

13,951

 

Less: Current portion at March 31, 2024

 

13,876

 

Long-term portion at March 31, 2024

$

75

 
Summary of Restricted Stock Units Activity The following table summarizes RSU activity under the Talos Energy Inc. 2021 Long Term Incentive Plan (the “2021 LTIP”) for the three months ended March 31, 2024:

 

Restricted
Stock Units

 

Weighted Average
Grant Date Fair Value

 

Unvested RSUs at December 31, 2023

 

2,306,361

 

$

14.89

 

Granted

 

1,435,516

 

$

13.27

 

Vested

 

(1,357,605

)

$

13.56

 

Forfeited

 

(41,691

)

$

15.14

 

Unvested RSUs at March 31, 2024(1)

 

2,342,581

 

$

14.66

 

 

(1)
As of March 31, 2024, 32,213 of the unvested RSUs were accounted for as liability awards in “Accrued liabilities” on the Condensed Consolidated Balance Sheets.
Summary of Performance Share Units Activity The following table summarizes PSU activity under the 2021 LTIP for the three months ended March 31, 2024:

 

Performance
Share Units

 

Weighted Average
Grant Date Fair Value

 

Unvested PSUs at December 31, 2023

 

1,016,649

 

$

21.30

 

Forfeited

 

(48,995

)

$

20.16

 

Unvested PSUs at March 31, 2024

 

967,654

 

$

21.36

 
Schedule of Recognized Share Based Compensation Expense, Net

The following table presents the amount of costs expensed and capitalized (in thousands):

 

Three Months Ended March 31,

 

 

2024

 

2023

 

Share-based compensation costs

$

4,615

 

$

7,191

 

Less: Amounts capitalized to oil and gas properties

 

1,861

 

 

3,253

 

Total share-based compensation expense

$

2,754

 

$

3,938