Employee Benefits Plans and Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024 (in thousands):

Severance accrual at December 31, 2023	$	6,295
Accrual additions		26,060
Benefit payments		(25,493	)
Severance accrual at June 30, 2024		6,862
Less: Current portion at June 30, 2024		6,810
Long-term portion at June 30, 2024	$	52

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity under the Amended and Restated Talos Energy Inc. 2021 Long Term Incentive Plan (the “A&R LTIP”) for the six months ended June 30, 2024:

	Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested RSUs at December 31, 2023		2,306,361		$	14.89
Granted		1,448,026		$	13.27
Vested		(1,389,364	)	$	13.62
Forfeited		(290,512	)	$	14.93
Unvested RSUs at June 30, 2024(1)		2,074,511		$	14.60

(1)As of June 30, 2024, 37,217 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 A&R LTIP for the six months ended June 30, 2024:

	Performance Share Units			Weighted Average Grant Date Fair Value
Unvested PSUs at December 31, 2023		1,016,649		$	21.30
Forfeited		(95,811	)	$	20.34
Unvested PSUs at June 30, 2024		920,838		$	21.40

Schedule of Recognized Share Based Compensation Expense, Net

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Share-based compensation costs	$	4,954	$	8,291	$	9,569	$	15,482
Less: Amounts capitalized to oil and gas properties		2,164		3,542		4,025		6,795
Total share-based compensation expense	$	2,790	$	4,749	$	5,544	$	8,687