XML 141 R71.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidating Financial Information - Summary of Condensed Consolidating Results Of Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:                            
Total revenue $ 203,906 $ 115,616 $ 99,962 $ 95,426 $ 101,824 $ 76,918 $ 63,775 $ 67,405 $ 50,656 $ 349,756 $ 197,250 $ 412,828 $ 258,754 $ 315,606
Operating expenses:                            
Direct lease operating expense 34,060     28,871           58,975 56,735 109,180 124,360 171,095
Insurance 4,259     2,688           6,934 5,409 10,743 13,101 17,965
Production taxes 564     380           955 645 1,460 1,958 3,311
Total lease operating expense 38,883     31,939           66,864 62,789 121,383 139,419 192,371
Workover and maintenance expense 17,714     8,225           24,619 17,047 32,825 24,810 29,752
Depreciation, depletion and amortization 67,726     36,157           116,766 76,088 157,352 124,689 212,689
Write-down of oil and natural gas properties under ceiling test 0     0           0 0 603,388
Accretion expense 9,492     5,321           14,252 10,509 19,295 21,829 19,395
General and administrative expense 30,880     7,470           39,460 17,216 36,673 28,686 35,662
Total operating expenses 164,695     89,112           261,961 183,649 367,528 339,433 1,093,257
Operating income (loss) 39,211 18,370 13,329 6,314 7,287 (7,103) (12,868) (20,697) (40,011) 87,795 13,601 45,300 (80,679) (777,651)
Interest expense (21,678)     (20,805)           (41,420) (39,577) (80,934) (70,415) (51,544)
Price risk management activities income (expense) (91,176) [1] (84,365) (28,086) 38,995 [1] 45,893 (32,742) 11,350 (48,930) 12,924 (143,152) [1] 84,888 [1] (27,563) [2] (57,398) [2] 182,196 [2]
Other income (expense) (1,269)     103           (1,078) 157 329 405 314
Net income (loss) (74,912) $ (85,760) $ (36,177) 24,607 $ 34,462 $ (60,354) $ (22,219) $ (84,715) $ (40,799) (97,855) 59,069 (62,868) (208,087) (646,685)
Talos                            
Operating expenses:                            
Equity earnings from subsidiaries (74,912)     24,607           (97,855) 59,069 (62,868) (208,087) (646,685)
Net income (loss) (74,912)     24,607           (97,855) 59,069 (62,868) (208,087) (646,685)
Talos Issuers                            
Operating expenses:                            
Depreciation, depletion and amortization 384     353           725 722 1,401 1,553 1,528
General and administrative expense 13,804     3,775           18,398 10,166 21,882 13,204 19,630
Total operating expenses 14,188     4,128           19,123 10,888 23,283 14,757 21,158
Operating income (loss) (14,188)     (4,128)           (19,123) (10,888) (23,283) (14,757) (21,158)
Interest expense (14,399)     (11,487)           (26,627) (23,501) (48,236) (47,291) (46,235)
Price risk management activities income (expense) (89,970)     36,040           (139,217) 81,541 (22,998) (57,398) 182,196
Other income (expense) (1,358)     150           (1,208) 300 600   129
Equity earnings from subsidiaries 45,003     4,032           88,320 11,617 31,049 (88,641) (761,617)
Net income (loss) (74,912)     24,607           (97,855) 59,069 (62,868) (208,087) (646,685)
Guarantors                            
Revenues:                            
Total revenue 203,906     95,426           349,756 197,250 412,828 258,754 315,606
Operating expenses:                            
Direct lease operating expense 34,060     28,871           58,975 56,735 109,180 124,360 171,095
Insurance 4,259     2,688           6,934 5,409 10,743 13,101 17,965
Production taxes 564     380           955 645 1,460 1,958 3,311
Total lease operating expense 38,883     31,939           66,864 62,789 121,383 139,419 192,371
Workover and maintenance expense 17,714     8,225           24,619 17,047 32,825 24,810 29,752
Depreciation, depletion and amortization 67,341     35,803           116,039 75,364 155,947 123,132 211,161
Write-down of oil and natural gas properties under ceiling test                           603,388
Accretion expense 9,492     5,321           14,252 10,509 19,295 21,829 19,395
General and administrative expense 16,854     3,531           20,567 6,621 14,172 15,044 14,541
Total operating expenses 150,284     84,819           242,341 172,330 343,622 324,234 1,070,608
Operating income (loss) 53,622     10,607           107,415 24,920 69,206 (65,480) (755,002)
Interest expense (6,891)     (7,695)           (13,957) (14,723) (30,252) (19,680) (4,080)
Price risk management activities income (expense) (1,206)     2,955           (3,935) 3,347 (4,565)    
Other income (expense) 132     (87)           85 (162) (333) 430 176
Net income (loss) 45,657     5,780           89,608 13,382 34,056 (84,730) (758,906)
Non-Guarantors                            
Operating expenses:                            
Depreciation, depletion and amortization 1     1           2 2 4 4  
General and administrative expense 222     164           495 429 619 438 1,491
Total operating expenses 223     165           497 431 623 442 1,491
Operating income (loss) (223)     (165)           (497) (431) (623) (442) (1,491)
Interest expense (388)     (1,623)           (836) (1,353) (2,446) (3,444) (1,229)
Other income (expense) (43)     40           45 19 62 (25) 9
Net income (loss) (654)     (1,748)           (1,288) (1,765) (3,007) (3,911) (2,711)
Elimination                            
Operating expenses:                            
Equity earnings from subsidiaries 29,909     (28,639)           9,535 (70,686) 31,819 296,728 1,408,302
Net income (loss) 29,909     (28,639)           9,535 (70,686) 31,819 296,728 1,408,302
Oil Revenue                            
Revenues:                            
Revenue 180,161     78,719           307,854 162,487 344,781 197,583 244,167
Oil Revenue | Guarantors                            
Revenues:                            
Revenue 180,161     78,719           307,854 162,487 344,781 197,583 244,167
Natural Gas Revenue                            
Revenues:                            
Revenue 16,448     12,888           29,171 26,062 48,886 42,705 55,026
Natural Gas Revenue | Guarantors                            
Revenues:                            
Revenue 16,448     12,888           29,171 26,062 48,886 42,705 55,026
NGL Revenue                            
Revenues:                            
Revenue 7,297     3,436           12,731 7,069 16,658 9,532 10,523
NGL Revenue | Guarantors                            
Revenues:                            
Revenue $ 7,297     3,436           $ 12,731 7,069 16,658 9,532 10,523
Other                            
Revenues:                            
Revenue       383             1,632 2,503 8,934 5,890
Other | Guarantors                            
Revenues:                            
Revenue       $ 383             $ 1,632 $ 2,503 $ 8,934 $ 5,890
[1] The Company paid $33.6 million and received $9.2 million in net cash settlements for the three months ended June 30, 2018 and 2017, respectively, and paid $54.1 million and received $13.7 million in net cash settlements for the six months ended June 30, 2018 and 2017, respectively.
[2] The Company received net cash settlements of $23.8 million, $172.2 million and $181.9 million for the years ended December 31, 2017, 2016 and 2015, respectively.