Talos Energy Inc 2025年度报告

FORM 10-K (Mark One) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☑ for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See thedefinitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an errorto previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executiveofficers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on the closing price of the shares of common stock on the New YorkStock Exchange on June 30, 2025, was $1,106,796,185.The number of shares of registrant’s Common Stock outstanding as of February 17, 2026 was 168,514,683. Portions of the registrant’s definitive proxy statement relating to the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this report. TABLE OF CONTENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS5SUMMARY RISK FACTORS7PART IItems 1 and 2.Business and Properties9Item 1A.Risk Factors27Item 1B.Unresolved Staff Comments43Item 1C.Cybersecurity43Item 3.Legal Proceedings44Item 4.Mine Safety Disclosures45PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of EquitySecurities46Item 6.[Reserved]47Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations48Item 7A.Quantitative and Qualitative Disclosures About Market Risk64Item 8.Financial Statements and Supplementary Data65Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure65Item 9A.Controls and Procedures65Item 9B.Other Information66Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections66PART IIIItem 10.Directors, Executive Officers and Corporate Governance67Item 11.Executive Compensation67Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters67Item 13.Certain Relationships and Related Transactions, and Director Independence67Item 14.Principal Accountant Fees and Services67PART IVItem 15.Exhibits and Financial Statement Schedules68Item 16.Form 10-K Summary71 GLOSSARY The following are abbreviations and definitions of certain terms used in this document, which are commonly used in the oiland natural gas industry: Barrel or Bbl —One stock tank barrel, or 42 United States gallons liquid volume. Boe —One barrel of oil equivalent determined using the ratio of six Mcf of natural gas to one barrel of crude oil orcondensate. BOEM— Bureau of Ocean Energy Management. BSEE— Bureau of Safety and Environmental Enforcement. Boepd —Barrels of oil equivalent per day. Btu —British thermal unit, which is the heat required to raise the temperature of a one-pound mass of water one degreeFahrenheit. CCS —Carbon capture and sequestration. CO2—Carbon dioxide. Completion —The installation of permanent equipment for the production of oil or natural gas. Deepwater —Water depths of more than 600 feet. Developed acres —The number of acres that are allocated or assignable to producing wells or wells capable of production. Dry well —A well that is an exploratory or development well that is not a productive well. Field —An area consistin