NYSE: TALO
TALOS ENERGY INC.CIK 0001724965 · SIC 1311 · Crude Petroleum & Natural Gas
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Talos swings to $149.7M profit on 56.5% revenue jump; $850M Shell deal and debt refinancing reshape outlook
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Talos Energy reports Q2 beat, raises 2026 guidance, announces Gulf of America acquisition
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Talos acquires 50% of Block 29 Mexico development with 200+ MMBoe resource for $30M at FID
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Talos issues $800M 8% notes to fund Gulf of America acquisition and redeem 9% debt
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Talos prices $800M debt offering to fund Gulf acquisition and refinance 2029 notes
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Talos Energy launches $800M debt offering to fund Gulf of America acquisition from Shell
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Talos Energy to acquire Gulf deepwater assets from Shell for $850M, adding 23 MMBoe reserves
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Talos Energy shareholders approve 4.5M share increase for executive equity compensation plan
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revenue $472.3M, net income -$256.2M. Talos posts impairment, sells Mexico stake, as Iran conflict lifts oil past
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Talos Energy reports Q1 2026 earnings and posts investor presentation
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues: | ||||
| Oil | 620,768 | 373,195 | 1,028,766 | 813,918 |
| Natural gas | 31,040 | 39,415 | 83,943 | 92,150 |
| NGL | 13,005 | 12,111 | 24,414 | 31,712 |
| Total revenues | 664,813 | 424,721 | 1,137,123 | 937,780 |
| Operating expenses: | ||||
| Lease operating expense | 155,683 | 136,971 | 284,718 | 264,776 |
| Production taxes | 103 | 130 | 146 | 244 |
| Depreciation, depletion and amortization | 229,369 | 269,706 | 459,753 | 550,422 |
| Impairment of oil and natural gas properties | — | 223,881 | 145,018 | 223,881 |
| Accretion expense | 35,908 | 32,046 | 70,847 | 62,940 |
| General and administrative expense | 44,626 | 39,430 | 85,596 | 74,045 |
| Other operating (income) expense | 902 | (3,851) | 12,249 | (8,387) |
| Total operating expenses | 466,591 | 698,313 | 1,058,327 | 1,167,921 |
| Operating income (expense) | 198,222 | (273,592) | 78,796 | (230,141) |
| Interest expense | (39,162) | (40,811) | (78,340) | (81,738) |
| Price risk management activities income (expense) | 30,549 | 86,855 | (142,998) | 71,002 |
| Equity method investment income (expense) | (113) | (186) | 6,557 | (676) |
| Other income (expense) | 5,230 | 5,371 | 9,415 | 9,231 |
| Net income (loss) before income taxes | 194,726 | (222,363) | (126,570) | (232,322) |
| Income tax benefit (expense) | (44,837) | 36,426 | 20,455 | 36,517 |
| Net income (loss) | 149,889 | (185,937) | (106,115) | (195,805) |
| Net income (loss) attributable to noncontrolling interest | 222 | — | 383 | — |
| Net income (loss) attributable to Talos Energy Inc. | 149,667 | (185,937) | (106,498) | (195,805) |
| Net income (loss) per share attributable to common stockholders: | ||||
| Basic | 0.90 | (1.05) | (0.64) | (1.10) |
| Diluted | 0.88 | (1.05) | (0.64) | (1.10) |
| Weighted average common shares outstanding: | ||||
| Basic | 166,980 | 177,404 | 167,677 | 178,791 |
| Diluted | 170,085 | 177,404 | 167,677 | 178,791 |
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 577,587 | 362,809 |
| Accounts receivable, net | 330,349 | 323,058 |
| Assets from price risk management activities | 28,834 | 54,420 |
| Prepaid assets | 141,832 | 83,080 |
| Other current assets | 17,118 | 17,939 |
| Total current assets | 1,095,720 | 841,306 |
| Property and equipment: | ||
| Proved properties | 10,912,984 | 10,621,012 |
| Unproved properties, not subject to amortization | 447,034 | 480,555 |
| Other property and equipment | 22,878 | 22,643 |
| Total property and equipment | 11,382,896 | 11,124,210 |
| Accumulated depreciation, depletion and amortization | (7,291,346) | (6,686,575) |
| Total property and equipment, net | 4,091,550 | 4,437,635 |
| Other long-term assets: | ||
| Restricted cash | 76,997 | 76,181 |
| Equity method investments | 44,661 | 112,382 |
| Other well equipment | 61,517 | 49,307 |
| Notes receivable, net | 20,653 | 19,636 |
| Operating lease assets | 8,345 | 9,214 |
| Other assets | 33,836 | 6,396 |
| Total assets | 5,433,279 | 5,552,057 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 87,837 | 92,979 |
| Accrued liabilities | 225,214 | 290,223 |
| Accrued royalties | 99,237 | 59,768 |
| Current portion of asset retirement obligations | 153,225 | 112,489 |
| Liabilities from price risk management activities | 27,504 | 6,708 |
| Accrued interest payable | 49,181 | 48,972 |
| Current portion of operating lease liabilities | 3,872 | 3,657 |
| Other current liabilities | 33,427 | 29,925 |
| Total current liabilities | 679,497 | 644,721 |
| Long-term liabilities: | ||
| Long-term debt | 1,228,764 | 1,226,189 |
| Asset retirement obligations | 1,240,920 | 1,219,639 |
| Operating lease liabilities | 10,051 | 11,956 |
| Other long-term liabilities | 240,891 | 281,429 |
| Total liabilities | 3,400,123 | 3,383,934 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Talos Energy Inc. stockholdersʼ equity: | ||
| Preferred stock; $0.01 par value; 30,000,000 shares authorized and zero shares issued or outstanding as of June 30, 2026 and December 31, 2025, respectively | — | — |
| Common stock; $0.01 par value; 270,000,000 shares authorized; 189,641,450 and 188,530,052 shares issued as of June 30, 2026 and December 31, 2025, respectively | 1,896 | 1,885 |
| Additional paid-in capital | 3,305,983 | 3,296,643 |
| Accumulated deficit | (1,024,898) | (918,400) |
| Treasury stock, at cost; 22,676,655 and 20,015,369 shares as of June 30, 2026 and December 31, 2025, respectively | (250,347) | (212,144) |
| Total Talos Energy Inc. stockholders' equity | 2,032,634 | 2,167,984 |
| Noncontrolling interest | 522 | 139 |
| Total equity | 2,033,156 | 2,168,123 |
| Total liabilities and equity | 5,433,279 | 5,552,057 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | (106,115) | (195,805) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation, depletion, amortization and accretion expense | 530,600 | 613,362 |
| Impairment of oil and natural gas properties | 145,018 | 223,881 |
| Amortization of deferred financing costs and original issue discount | 3,862 | 3,695 |
| Equity-based compensation expense | 11,745 | 8,544 |
| Price risk management activities (income) expense | 142,998 | (71,002) |
| Net cash received (paid) on settled derivative instruments | (96,616) | 38,482 |
| Equity method investment (income) expense | (6,557) | 676 |
| Settlement of asset retirement obligations | (40,571) | (38,249) |
| Loss (gain) on sale of assets | 1,564 | (16) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (11,096) | 63,863 |
| Other current assets | (57,931) | 24,361 |
| Accounts payable | 333 | (2,451) |
| Other current liabilities | 3,631 | (9,244) |
| Other non-current assets and liabilities, net | (46,228) | (40,219) |
| Net cash provided by (used in) operating activities | 474,637 | 619,878 |
| Cash flows from investing activities: | ||
| Exploration, development and other capital expenditures | (254,037) | (276,149) |
| Payments for acquisitions, net of cash acquired | (3,125) | (14,845) |
| Proceeds from (cash paid for) sale of property and equipment, net | 15,027 | 687 |
| Contributions to equity method investees | — | (1,996) |
| Proceeds from sale of equity method investments | 49,665 | — |
| Net cash provided by (used in) investing activities | (192,470) | (292,303) |
| Cash flows from financing activities: | ||
| Deferred financing costs | (7,349) | — |
| Other deferred payments | (4,548) | (10,172) |
| Payments of finance lease | (10,528) | (9,616) |
| Purchase of treasury stock | (38,203) | (54,736) |
| Employee stock awards tax withholdings | (5,945) | (2,399) |
| Net cash provided by (used in) financing activities | (66,573) | (76,923) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 215,594 | 250,652 |
| Cash, cash equivalents and restricted cash: | ||
| Balance, beginning of period | 438,990 | 214,432 |
| Balance, end of period | 654,584 | 465,084 |
| Supplemental non-cash transactions: | ||
| Capital expenditures included in accounts payable and accrued liabilities | 59,974 | 48,926 |
| Supplemental cash flow information: | ||
| Interest paid, net of amounts capitalized | 57,618 | 59,769 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share amounts); (In thousands, except share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗