fact portfolios following integrate combination of having first talented we Sergio, Stone two Certainly for historic our of professionals. Talos the two we're call. thank as strong second our for the was everyone call for the the groups offshore joining earnings Thanks quarter and simply public completion and you that
cash to giving flow negotiate scale, free ability helped transaction and diversity, to program capital and core and the the after payments. asset adding approved current we Stone's prior closing the generate combined of the company Rampart interest merger field an positive another Just our more
than those mentioned, As Sergio this future. the in earnings post we'll be different will release
a Talos pro You'll Talos May are the on focuses discussions if discussions; and and the focused they the the combined where combined as through for see through two and on GAAP we and Stone January which then assets forward; from forma and full year. April, discussion June only assets were legacy
barrels on pro assets a As year the Talos net basis combined full for day reference these XXXX. has in a XX,XXX and from equivalent forma daily production Stone a with
our XXXX also for with website provides investment detail several you XXXX. run To expense look take transaction, averaged closed the As company include In volumes the of now the assets. our after and we previously second in forma, GAAP XXXX, announced for offshore and would the we've Rampart will by it fully introductory to level of barrels for All full transaction. and key together, to history the X,XXX management XXXX cases, accounted all two from I pro the be has Talos shortly production assets companies oil allows of being encourage the equivalent Talos for presentation a net a quarter. CapEx linkers we as two the provides it you so more corporate privately-held Stone previously into these third deck from to and there. posted time we into day so the time details of set Stone quarter of at the teams; for Rampart the at months the forward, in the that guidance have you third look May only on assets assets moving year
call, production pro forma can viewed it's you was deck our operated. updated of We SEC over year-end imagine of a pro month production value remainder production our shallow assets, assets Year-end the billion as in XX% conferences. the operated barrels, proved our approved SEC or deepwater resetting deepwater at assets round XX% in with in million included asset next XX% $XX.XX reserves strip. worth assets of are of with these from reserve is Referencing the our year-end and is ahead contingent expect valuable this is XXX offshore you water $X.X at it's probably price that more in of is prices Mexico first from lifecycle. this resource Zama point as these our deck the the corporate reserves forma from to Discovery post our a combined Not are because an base. I've an remind and updated of it's with which
to us strategy and development management and using by our drilling asset margin core the modern base. Gulf in our of fixed superior infrastructure and high achieve reduce to a Our or is running techniques across on barrels what Mexico is within the cost to lease our reasonable within that more use infrastructure our economics U.S. allows position reprocessing and seismic generate generally distance new cost infrastructure either opportunities,
Phoenix Producer infrastructure. and unit, known subsea dry-tree's has Flix infrastructure with field is that over have in field as our Canyon in lease which features platforms Canyon the which the assets field Green is the and Mississippi area, to a series production as back key the under in flows HPX Helix to with of facility floating is are Rampart - which wells the follows; Pompano sub-sea XXX,XXX X acres subsea U.S. and We the the of and being Gulf key fixed both Mexico this dry-tree's the Tornado Amberjack otherwise the field and tension-leg a
Zama have that that Bank we winner the East call. approximately Mexico, world after our being assets. efforts find on an and highlight Block In that and have very We these Discovery sharing water We including assets of Discovery a And South July Island X XXXX recognized XXX discuss other are acquired first shallow XXXX. we XXX,XXX and we production post-synergy in deck reforms of a in praise series this assets the Ewing website. of again, leasing also XXX, XXX, you assortment of introductory XXX, contracts through round acres Marsh our Cameron offshore on to two our drove called historic at X and Block we'll the in can
for If forma you to pro at guidance, XX,XXX May year we Talos net equivalent year, the from of full day on and on. XX,XXX full look XXXX the daily and for a Rampart a production assets with Stone barrels
components; have plaguing we forma on The several they a manage are the our guided Gulf also [ph] we capital pro We of a basis little Stone leasing combination $XXX also the capital first, a XXXX. in normal than XXXX always program obligations as million leasing we and consists In of $XXX - value infrastructure percent key like for have million capitalized cost, between total Mexico, G&A. more capital our time. cost as but result that expected a G&G program and we with we [ph] in normal will of of with decrease
activities submersible to to XX out can do some with activity tie It quickly; to first typically own [indiscernible]; production outside opportunities, be Beyond defense corporate management into impact and They rate turn types changing drilling good is two capital and these we we focus activities expected or try that client. of are they of access that reserves can production costs. levels and with have were all add of new can or XX returns projects managing are projects gasless to. of three to asset that back we we production have XX year. have drilling we others our our our but which of low low-risk we those probable recompleting a pumps, value; location it infrastructure is our they what production on typically line call then infrastructure conversion rate [ph] adding but in and first, designer have and proves smaller wells adding And to
Finally, of NAV. can projects materially in our drill our program to have high strong economic that we'll increase risk use and moderate impact part but capital
our about second were information and averaged backdrop going So results with this the talk in all of to we quarter a and as what what we're year-to-date.
averaged new PDMP we an to in that our the net of as million from second are earlier, a second in we in barrels year-to-date quarter equivalent year-to-date had we that a basis, then water going has quarter we in and [ph] day XX,XXX the barrels conversions second just our which $XXX about well management; quarter minute drilling asset On and a we're to EBITDA impacted a $XXX million EBITDA. we've PDP, XX,XXX that again, program and we've had a So well. And talked of interest. here EBITDA about talk day, recompletions averaged equivalent shallow of call to series
quarter in we consider are not that will we And quarter going some some the year-to-date reflected the the things would of development. of third or forward be that activities that have done are that in second recent the
facility. has is six about that. it For kind of these our a response the rig back example, exactly online oil X,XXX so barrels came months to rate premium guidance pretty initial of to it we well some of near-infrastructure also team a into we which generally from of as online day well [indiscernible] bring we and impact. subsea a and net to which a sell a barrels our equipment which all happy on X,XXX flows high-end took window in with turned of Pompina the want rate our were asset was to quick providence and of This at growth projects. drilled an nice advantage because of by we're we production and well after turnaround a market our able to was at equivalent The close planning did day important note, good this of WTI operations sea the It's
the into in area be the development that first of should We will XXXX, XXXX. this our first we start by of other second XXXX X Phoenix/Tornado the both of several the in well discovery expect deepwater is wells Phoenix have Tornado two well field; quarter of tornado these wells year, followed quarter our fourth projects third the to early quarter will the online and in drill we X which in Boris be well
we're the begin with to online their when those two wells partnering we or took then So we for third wells of into in the hoped moved XXX, quarter to Kinki [ph] in a again, which quarter. active fourth expected own quarter deeper subsea after we at In is drilling of the ASCOXX targets. two we infrastructure. prospect Ship successful XXXX, shallow quarter which also it of the we We're [ph], first with infrastructure will [ph] is XXXX second available drilled high drilled be Murphy us, Ewing interest in fourth impact in our exploration we the it rig well utilizing finding back-to-back drill XX.X% what well working late again and will continue the than in water, XXX found early three of well better pool then and out targets; production development deeper Bank turned and Shell
in We sand our as on gross rate net a at as day which equivalent XXX is expect bring reflects production to X,XXX exactly in the equivalent July low completion bought The X,XXX this day the we day assets; to X,XXX X,XXX we're in deepest would third year. in and a what a barrels quarter to be XXXX a interest. do trying equivalent and field barrels these that project was gross the first between to which barrels a
several first I and and over earlier targets are don't AXX We deal Mexico progress targets to it increase we've we Discovery. the gross through our made - several day well this some was the looks drilling wells, drilled own and year. more Bank projects like that Ewing reprocessed X,XXX set were to years. XXX, could field we up data, able we developed I over of in So great equivalent our In last which it of projects next a drilling drilling production the management praising described seismic asset targets, include a those barrels which drilling those just discussed earlier Zama
over U.S. logged in this commence third as an will properties pay be we Gulf plan upper side of type Discovery, is the feet has operations discovery rock with of interval geological The Zama drilling gross of XX% approved appraisal and on been oil, we year-end. Miocene a Mexico the Miocene target, our X,XXX reminder, Gulf a Mexico. the As is U.S. that expect the city upper before to of quarter prolific is
We rig Zama same XX-XX will is the which use the [ph] the that Discovery. rig INSCO original drilled
prepare we A first activities sit appraisal has unitization looking we'll in Our original generally doing government federal agreement for goal wells to study wells move think the our that start XXXX. our in out general oil-water where some unitization will a strike allows is and the finally approved. Mexican what's prospect. our the the is to appraisal the take me, There and obviously X, then table the The sharing guidelines you Once been here Block What lease, on and put some putting contact next us is in related of well, couple appraisal call to the of excuse we the that's our won process close location. ourselves be conversations, second well the be fairly Pemex operators XXX pre-unitization of pre-unitization to The will not agreement pre-unitization some some us that north plans but will will agreement We're contact and X.X drill take also goal Discovery; for provide drill - targets dip also going needs way idea original to identified in as before well appraisal when will first does think closer been we beyond and drilled we for our owns this quarter the two next the we that south are decision, talked test and to prospect, Zama and final generally location of have we and quarter look a but is making to of in we up it tightens to a way for in on certainly splits there projects the that us get any it done prospect, govern location better some NFID, we that to infrastructure deeper release an in door, framework water minds which interesting round we've and of require to can is is this of the our that fixed geologically will year narrow with second have agreement quickly data the and project. see our get the to XXXX, what appraisal of reserves, investment fact feet to the year. federal the end a is early high two well to executed on there, the to Mexico able that other original so in here, oil call expectations government enough second in we're contract, earnings half by the we the and and marked-up and online up some deepening that water - first what by drill of and that look to able we've too decision we've by a test we our think do know, a down we've two be our XXXX, can in production distinct auction how well, Mexico at discussed and discovery that to prolific feed permitting milestone another from Bacalt we save point. development past which great time of negotiated other and first here, we this a reached FID, it review equity that production other years impact these to start [indiscernible] about very has discussions. maybe between enables a agreement, and try we'll dip ultimately rules about - of that in we costs [ph] that also it's have such allows
continue assets the these from combination in or onetime slow we I we think will see the Stone, As some synergies in combination. integrate teams to pull and to the start of integration expenses with the down
headquartered that all synergy side so while you the As we're in on and certainly see was know, some are to going conclude online, of G&A combination. the an the headquartered appraisal running side. new but Lafayette; some we rate operating take be run from synergies To are through this of to We come there's the pleased a our discovery, Stone in and will can year cost flow. of very still the it those bulk managing do we the projects through onetime pull year expect expect most inside confident with We're we're reflective savings guidance the so Houston the some of building. this we worldclass the we things by you'd on doing run we're rate we're of where the this, business meet to end of expect through are; great the working cash organization
the believe a our leverage development as about also with stat forma pro position think Mexico the competitive annualized at the of first a for a from of in perspective. sheet in us also Gulf puts drop we opportunities year other X.Xx half business balance in We
progress come. to we're about things continue hard, with we some working excited team and So making, to we're is very the happy be the
will walk So it that, through quarter. to Harding over with hand I'll the Mike who second
