Acquisitions and Divestitures (Tables) - EnVen Energy Corporation

12 Months Ended

Dec. 31, 2023

Business Acquisition [Line Items]

Summary of Purchase Price

The following table summarizes the purchase price (in thousands except share and per share data):

Talos common stock		43,799,890
Talos common stock price per share(1)	$	19.00
Common stock value	$	832,198
Cash consideration	$	207,313
Settlement of preexisting relationship	$	8,388
Total purchase price	$	1,047,899

(1)Represents the closing price of the Company’s common stock on February 13, 2023, the date of the closing of the EnVen Acquisition.

Summary of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table presents the final allocation of the purchase price to the assets acquired and liabilities assumed based on their fair values on February 13, 2023 (in thousands):

Current assets	$	243,571
Property and equipment		1,455,347
Other long-term assets:
Restricted cash		100,753
Notes receivable, net		14,844
Other long-term assets		48,899
Current liabilities:
Current portion of long-term debt		(33,234	)
Current portion of asset retirement obligations		(7,079	)
Other current liabilities		(124,347	)
Long-term liabilities:
Long-term debt		(233,836	)
Asset retirement obligations		(251,779	)
Deferred tax liabilities		(150,264	)
Other long-term liabilities		(14,976	)
Allocated purchase price	$	1,047,899

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 December 31, 2023 (in thousands):

	Year Ended December 31, 2023
Revenue	$	423,624
Net income (loss)	$	85,622

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).

	Year Ended December 31,
	2023		2022
Revenue	$	1,509,929	$	2,355,215
Net income (loss)	$	217,537	$	425,995
Basic net income (loss) per common share	$	1.74	$	3.37
Diluted net income (loss) per common share	$	1.73	$	3.34