Schedule I - Condensed Financial Information of Registrant (Parent Only)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule I - Condensed Financial Information of Registrant (Parent Only)

Schedule I. Condensed Financial Information of Registrant

TALOS ENERGY INC. (PARENT ONLY)

BALANCE SHEETS

(In thousands, except share amounts)

	Year Ended December 31,
	2022			2021
ASSETS
Current assets:
Accounts receivable:
Other, net	$	—		$	523
Prepaid assets		169			141
Other current assets		36			—
Total current assets		205			664
Other long-term assets:
Investments in subsidiaries		1,168,053			761,739
Total assets	$	1,168,258		$	762,403
LIABILITIES AND STOCKHOLDERSʼ EQUITY
Current liabilities:
Accounts payable	$	249		$	178
Accrued liabilities		728			497
Other current liabilities		62			—
Total current liabilities		1,039			675
Long-term liabilities:
Other long-term liabilities		1,643			1,075
Total liabilities		2,682			1,750
Stockholdersʼ equity:
Preferred stock, $0.01 par value; 30,000,000 shares authorized and no shares issued or outstanding as of December 31, 2022 and 2021		—			—
Common stock $0.01 par value; 270,000,000 shares authorized; 82,570,328 and 81,881,477 shares issued and outstanding as of December 31, 2022 and 2021, respectively		826			819
Additional paid-in capital		1,699,799			1,676,798
Accumulated deficit		(535,049	)		(916,964	)
Total stockholdersʼ equity		1,165,576			760,653
Total liabilities and stockholdersʼ equity	$	1,168,258		$	762,403

TALOS ENERGY INC. (PARENT ONLY)

STATEMENTS OF OPERATIONS

(In thousands)

	Year Ended December 31,
	2022			2021			2020
Operating expenses:
General and administrative expense	$	2,145		$	1,322		$	1,404
Total operating expenses		2,145			1,322			1,404
Operating expense		(2,145	)		(1,322	)		(1,404	)
Interest income (expense)		—			(5	)		7
Other expense		(1	)		(2	)		(2	)
Equity earnings (loss) from subsidiaries		385,968			(180,548	)		(431,446	)
Net income (loss) before income taxes		383,822			(181,877	)		(432,845	)
Income tax expense		(1,907	)		(1,075	)		(32,760	)
Net income (loss)	$	381,915		$	(182,952	)	$	(465,605	)

TALOS ENERGY INC. (PARENT ONLY)

STATEMENTS OF CASH FLOWS

(In thousands)

	Year Ended December 31,
	2022			2021			2020
Cash flows from operating activities:
Net cash provided used in operating activities	$	(809	)	$	(876	)	$	(936	)
Cash flows from investing activities:
Distributions from subsidiaries		809			879			943
Contributions to subsidiaries		—			(3	)		(71,107	)
Net cash provided by (used in) investing activities		809			876			(70,164	)
Cash flows from financing activities:
Proceeds from issuance of common stock		—			—			71,100
Net cash provided by financing activities		—			—			71,100
Net increase (decrease) in cash and cash equivalents		—			—			—
Cash and cash equivalents:
Balance, beginning of period		—			—			—
Balance, end of period	$	—		$	—		$	—

TALOS ENERGY INC. (PARENT ONLY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

December 31, 2022

Note 1 — Basis of Presentation

Pursuant to the rules and regulations of the SEC, the parent only condensed financial information of Talos Energy, Inc. do not reflect all of the information and notes normally included with financial statements prepared in accordance with GAAP. Therefore, these condensed financial statements should be read in conjunction with the consolidated financial statements and related notes included under Part IV, Item 15. Exhibits and Financial Statement Schedules in this Annual Report.