morning Good Thank you, our joining call. thanks Sergio. and for
for our with across was businesses. another XXXX transformative year and Upstream Talos CCS key milestones
been has advanced our with possible employee's only creation. value hard have team Our and accomplishments the catalysts future to These work focus. drive
employees to Talos' foremost first for job thank So, past and over our year. well a you done the
carbon sequestration from of carbon United we addition in advanced major storage the States. one acquisition, M&A to and the attained our completed business our with XXXX, portfolios record-setting EnVen a to largest the In business and EnVen performance, financial capture
position with standards. while and credit accomplishments the profile We achieved is were strategic today statistics free best maintaining credit our and year safety environmental our liquidity meaningfully flow performance our in These generation strengthened history. and cash the throughout our high
results and very want take XXXX fourth full to address the and quarter in Before a detail, moment year projects addressing four topics. to I important
reserves. year-end First, the of our value
long-term in Second, Shane later. guidance discuss that our and will XXXX detail outlook more
capital business Third, our investments towards capital and providing the CCS generative highly our growth while we fourth, to to balance our shareholders. intend path drilling upstream also ongoing results allocation business, cash high returning solid a of And and framework and flow program. how our
which oil assuming with with approximately approximately PVXX pro forma for XXX the Starting of Talos our reserves. per billion are our XXXX developed of $X.X XX% a transaction, base proven is more more a is base. of today's reserves reserve is our EnVen barrel The proved and $XX we billion $X.X line prices, of price which the value billion. PV-XX $XX reserves oil. $X.X per more larger, proved at prices. On equivalent, barrel. The year-end deck, with diverse, is reserve Talos's still or of ended liquid-weighted flat is barrels million basis producing SEC PDP The PV-XX a reserves in at proved
higher XX% alone business value. our production. current all I and I for our the that we because current market bring is production are up than approximately investors greater enterprise our investments to than The making our PV-XX current X% value in option extraordinary able current the are get of capitalization. believe outside
from our substantially on business. acquirer tremendous. stock of FID active an This growing continuing to the and key Mexico is our reaching why drilling to bringing value in focused assets in Zama extremely are to runway of is for CCS upside forward and The program we the our ongoing also of catalysts Gulf be
we've on between XX,XXX creation. barrels per That the long-term focus generation release decision our estimating provided day production the in value flow yesterday is free of on cash oil that and earnings Talos's based expectation XXXX for shareholder we Turning to business to our XXXX XX,XXX made year. very equivalent and conscious guidance, the
the from we prospect Lisbon approximately to per we barrels gross of Instead, With mind, the inventory X,XXX decided in potential year, in remove impact are gas-weighted our to gas-weighted oil a despite projects XXXX that more XX,XXX production equivalent of Lisbon subsequent when its will economics day. of drilling near-term preserve for calendar attractive.
That to cause this made XXXX to production, Rock short-term additional capital but value our first volatility will some XXXX. long-term we this to for Venice firmly Talos also the production position to recent knew development decision right for decision creation was in and discoveries is incur decision as accelerate could XXXX Lime success-based early our we shareholders. believe in We our
than healthier year. development throughout we're most our outlook our online ever program, because and come of several exploitation is successes XXXX Talos been, our this of drilling and will bullish XXXX, projects which and drill planning recent of on Longer-term the to it's in
production We our expect XX% now will and to grow between XXXX. XX%
to per X% That's rate growth X% approximately a year. compounded annual of
of forecast. one to flow expect billion a about. excited very during XXXX the really also XXXX that is period $XX $X we're flat business That billion barrel cash cumulative free per $X.X healthy a price generate a same We and between to at and
capital framework, cash paying down allocation be continues debt. our generation our Concerning free priority flow to and
back near paid last our history. metric years, the our lowest Over $XXX two in bringing its we million over leverage debt level have in
firm addition think balance we In we worth to the do paying are share in of to repaying value attention months metrics quantum a have also need to transferred still per we last there's on more by shareholders overall bit $X.XX but to the sheet. alone, leverage our debt of XX we debt
business to in the those We have projects, fundamentally in we intend shareholders. we gas continue company, CCS equity invest our it's growth we they value catalyst-rich whether to oil or our a because substantial and to portfolio. will in our projects that our create in business believe As believe
shareholders, subject Directors. approvals generation our through continued debt to we further cash and our primarily Board to After share reinvest free appropriately our of to business, repurchases prepared are re-prioritize continue incremental of in we reduction also opportunistic return flow to
be this to to position accelerate debt once capital in we expect our a meet return of reduction goals. We
potential with over subject our equity We the Board. in our any approval Talos repurchases addition, significantly this event technical participating In base. to by years occur monetization connection private could consider will benefit several next believe and stock could the help overhang broader in shareholder share that alleviate in Talos' shareholder
forward successful recently our and Finally, We basis, XXXX a the the on drilling looking at and wells. ongoing we including impact have throughout EnVen program those will exploitation drilled development XXXX. pro wells look assets, positive forma provide to acquired into and six
sidetrack up commenced appraisal mixed well project appraisal multiple In the our encounter drilling late we with XXXX, wellbore. The had of to appraisal date, did wells Puma a we as sands. in which results has of in subsequently West, followed hydrocarbons the
us additional temporarily that subsequent well be a suspended a However, necessary the hydrocarbons bore, the our wells that from would well, flexibility a said, well future sidetrack, path to best the working move forward we provides preliminary With which from actively the current the to drill sidetrack development. appraisal are we incorporate analysis where forward. full-scale have determine to with data suggests to a
updates to Our now important will as continue and teams studying data are available. the provide
highlight our advancements transaction, and safety our and our of accretive our performance. remainder for full For on discuss value drilling environmental address comment in results remarks I'll quickly with CCS, conclude financial my year, the remarks. the about our a prepared program, few
our weighted on per XXXX, XX% full XX% was We EBITDA year near the BOE adjusted and oil at with generated production the lowest achieved than liquids. million free our to the the shortly. highest of this approximately day in of us liquidity of more $XXX Shane For a record end adjusted details allowed XX,XXX year cash more company's history. $XXX flow, provide and million. which We leverage will
Regarding our successes. previously drilling mentioned
with projects proud of across of our been the very XXXX totaling team six busy success successful XXXX thus The drilling our very Gulf. second early to half projects far for have and I'm date.
and discoveries Venice Platform and Ram near Powell Rock were located Canyon operated owned Lime announced previously successful. Talos's Mississippi both in XXX% Our
rate strategy could to Ram projects first equivalent XX,XXX in to in of is day combined years, barrels they XX facility a is expected our of highest exactly infrastructure-led come gross production gross per to once achieved Those in achieve. deliver contributing online of drilling Powell barrels XXXX which what the the quarter XX,XXX over oil
grants footprint newly discovered has oil-producing deepwater flow barrels of Gulf a infrastructure other emissions continues our in why a existing in environment, Mexico subsea than which much to be lower to The the the leader ability the barrels. basins. us This highlights low-emissions
this of barrels in oil of to production Pompano The and X,XXX quarter end first Hunter deliver X,XXX of of in multiple program field second Talos-operated in production the results production the this generated platform towards horizons also to project was by gross rig Lobster expect pay year fresh achieving discovering first barrels last day the Mount solid of quarter expected rates with field we EnVen's the per XXXX. equivalent prospect and year. successful
back success are discoveries recent Gunflint Spruance project that, discovery. The subsea projects to exploitation Pompano water in recompletion water also rig to high non-operated the on prospect, move Talos's will the has a program, Our rig The tie wells. achieving the After degree Number West open target with would our our Rigolets via and One bullet Rigolets to if platform. program flow sidetrack third of rig at the open moved our a successful from
a the Rigolets gross see second XX,XXX per reached of barrels oil of X,XXX Talos barrels with in owns oil of to project. XX% working could this interest day about production We by equivalent XXXX. half rates first
the we Following to half EnVen in of we to Rigolets, drill prospect a plan the are from great the portfolio drill This it Sunspear and prospect. is excited second year. the
own the If Gross between EnVen successful, barrels this to are We we project. Prince XX% equivalent acquired production day. oil rates a tie it working barrels that be the to expected to of XX,XXX per we in back platform X,XXX expect to interest in transaction.
completion with XX,XXX-acre we track, first in XX% able high-impact Talos were project well a Pancheron are excited the to is Oxy of a project owns is operator very expect we interest. own XXXX. the we Pancheron. a is the them. spud the half to following combine project, of with of working and the about Another Oxy we continuous
development. cash about skills active production that and across growth the and discoveries We optimize will business these we to Overall, ourselves are infrastructure through pride utilizing add. our or projects our core while and excited XXXX, own in material beyond technical leveraging campaign in portfolio operational we our flow acquire drill on potential
Mount horizon. led quarter, that has to strategy Lime to solid This at and EnVen others last in results, on Rock, the successes is with me Rigolets, and Venice, Sunspear, acquisition. just is strategy generating leads Hunter That the which a our immediate
in As further our improves closed The outstanding It's previously expands with the Gulf of accretive ample EnVen high-margin shareholders position. in Mexico credit oil-weighted transaction announced, and operations infrastructure. mid-February. assets transaction Talos's we our to
as for businesses that With as value-creating activities The well expect CCS to development organic both the acquisition, we our valuable business on accelerate M&A upstream Talos is of our activities. we the realize the and to work better integration generate companies positioned will any subsequent synergies combination. is through track and to and
We to this the will continue on synergy integration and realizations our update this year. later market
team to those the CCS securing This our in first to the sites, made business. out partners Turning major team to progress portfolio in drive more incredible sequestration building bringing XXXX. reiterate in key will across projects I and want maturation. multiple a the that included
proud our the expansion of level in the There early structure CCS the of extraordinary after become along about Coast. our U.S. XXQ XXXX. the leadership position tax incredibly in I'm promise advancements of incentive the is of enthusiasm can business what an in Gulf
to said States. work of world, Gulf often going in that Coast is United has have it the in if We the anywhere work CCS to the
sequester we the the the and infrastructure geology injected monitor existing Here COX. and market, combination required superb right economic the industrial incentives, large concentrated emissions of permanently midstream have to a
in And Talos' an alone. to strong portfolio, sequestration project position announced of our combined this Bend continue COX elected to a Southeast in project more CCS to that alongside complement of storage will our we onshore Chevron Bayou COX with billion give us tonnes leasehold across Texas the gross one our participate capacity acreage already yesterday, and than
industrial as the That be very will Houston Channel Port the Arthur as Ship corridor. emissions Beaumont to well for allow competitive in us
a which also Energy Howard the for Talos, the of and Assurance Additionally Facility carbon grant Texas Storage as the earlier of Port $X Energy's Coastal Department this Authority management our selected includes from CarbonSAFE. Enterprise, partnership million University month, A&M known Carbon Bend system Corpus U.S. Partners. Christi were
stratigraphic funding directly Under grant project the and final subject and majority the including award, key will of a feasibility of of terms technical FEED grant reimburse work studies, upcoming the streams. economic award well, The a is other with negotiation Department Energy. costs the evaluation to
to with lease future. finalized pore opportunities additional project Port with team the February in teams the securing the for space and documents that in Talos potential Howard definitive Additionally, of XX,XXX-acre for expand Corpus the regional Christi
grow in our areas, source design our For commercial are straightforward capacity streams, portfolio permitting additional and execute existing XXXX increased goals in existing point front-end partnerships areas, engineering TLCS, project advance the projects. and existing and expand develop contracts work project storage and progress
exciting We look throughout more grow year updates the forward continue to we as providing business. to the
continued trend greenhouse XXXX reducing was year lost environmental responsibility. categories historic gas rates safety time record-setting for and and emissions Our our intensity. into of incident another
forma assets. company's three pro Over the years rates by our XXXX, year's GHG approach company's from evolving proactive our reduction achieving Scope on and resulting to a the sooner emissions improved goal X including EnVen XX% previous has incident baseline XXXX TRIR. management basis, the from initial in years continuous Talos's a we HSE year, the In our XX% reduced intensity
turn to as With the guidance. that, year the financial fourth details full and call for XXXX to overview operational of financial the and well as Shane quarter I'll our over our address an
