TALO Stock Price Correlated With Talos Energy Financials

Note 1 — Organization, Nature of Business and Basis of Presentation Organization and Nature of Business Talos Energy Inc. (the “Parent Company”) is a Delaware corporation originally incorporated on November 14, 2017. On May 10, 2018, the Parent Company consummated a combination between Talos Energy LLC and Stone Energy Corporation (“Stone”) (such combination, “Stone Combination”). Talos Energy LLC, which was the acquirer of Stone for financial reporting and accounting purposes, was formed in 2011 and commenced commercial operations on February 6, 2013. The Parent Company conducts all business operations through its operating subsidiaries, owns no operating assets and has no material operations, cash flows or liabilities independent of its subsidiaries. The Parent Company’s common stock is traded on the New York Stock Exchange under the ticker symbol “TALO.” The Parent Company (including its subsidiaries, collectively “Talos” or the “Company”) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States (“U.S.”) Gulf of Mexico and offshore Mexico both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. The Company leverages decades of technical and offshore operational expertise in the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, the Company also utilizes its expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage collaborative arrangements along the coast of the U.S. Gulf of Mexico. Basis of Presentation and Consolidation The Consolidated Financial Statements have been prepared in accordance with GAAP and include each subsidiary from the date of inception. All intercompany transactions have been eliminated. All adjustments are of a normal, recurring nature and are necessary to fairly present the financial position, results of operations and cash flows for the periods reflected herein. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods and the reported amounts of proved oil and natural gas reserves. Actual results could differ from those estimates.

Certain reclassifications have been made to the prior year presentation to conform to the current year presentation. Amounts previously included as income in “Other” within “Revenues and Other” on the Consolidated Statements of Operations are now reflected in “Other operating (income) expense” as a component of “Total operating expenses” on the Consolidated Statements of Operations. The Company has two operating segments: (i) exploration and production of oil, natural gas and NGLs (“E&P Segment”) and (ii) carbon capture and sequestration (“CCS Segment”). The E&P Segment is the Company’s only reportable segment. The CCS Segment did not meet any of the quantitative thresholds to be a separate reportable segment. It did no t generate any revenue and incurred $ 4.3 million of general and administrative expense during the year ended December 31, 2021. The CCS Segment did no t have any assets at December 31, 2021.

Free historical financial statements for Talos Energy Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 23 quarters since 2019. Compare with TALO stock chart to see long term trends.

Data imported from Talos Energy Inc SEC filings. Check original filings before making any investment decision.