you, Thank everyone, We call. in. our you to listening appreciate and Sergio, welcome,
to X became Before public to role in as role at in and new ago, a our his continue and Officer. congratulate deep us drive and since business been to finance, understanding Talos Chief I Financial Talos we are want his our Sergio significant I'm over leadership Sergio company has I years grow begin, in confident a investor his we experience as of accounting forward. treasury, relations and extraordinarily valuable
a share our Class filing solid our program, partial business, progress CCS that VI to in led highlighted drilling upstream and a The and team in Mexico, renewed second in high discovery quarter execution opportunistic permit by monetization by operations repurchases. our in was another margins infrastructure-led
the was bit business. of our about direction quite call. So excited accomplished since we last are And our a
That our day, upstream in equivalent in Concerning our in $XX top netback quarter. of EBITDA we XX,XXX adjusted of $XXX revenue margin and million to companies in Talos to to business. amongst per quarter generated the results, million of led in second equates EBITDA which quartile E&P oil which close production barrels second BOE, $XXX is per public an adjusted believe the
the expenditures CCS $XXX while million positive leading invested free to about business, in also we our quarter million in upstream during $X Capital in business, of million generation cash were quarter. the second our a $XX flow
closing track at pro on stayed forma contribution Xx, EBITDA leverage the months Our to last including in around from EnVen XX February. prior
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worth partners projects, Venice both handling a fees, interest will own the which in discoveries collect we Lime securing Rock, production production Sunspear of with is lowers cost structure working benefits interest of the of fixed We assets. that XX% these dramatically and in It's wells. these noting the both by and together new one working
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XX%. However, probability success the of pre-drill was close to
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further we'll spud field projected the completion We development analyze the have and in Lobster to for quarter. alongside third suspended is well, the which well next it
to others and offering to exploration them, short while capital and exploitation risk programs calendar we're balance reward our to opportunities projects of that spud reevaluating these continually and fine-tuning time production our exposure high-impact and With develop opportunities. drilling inventory annual cycle like wells long-term
resulting X drilling including X in Venice Sunspear, Rock. at last success projects success program in Lime has recent and the exploitation our discoveries, of had a operated our With
as of has Exploration the company. success, this producing as our date, years projects results Tornado X bring but ago. statistically probability did from highest Pancheron still lower lead impactful discovery Tornado a to can wells such the in they To at
portfolio a a to for economic of and exposures believe projects On returns and to Another lead example company to high-impact upside exploration risk-adjusted which outcome provides attractive a Zama, is successful will shareholders. of technical additional shareholders and having basis, success still we resources. long-term
in opportunity excited with next about in Carso, our forward listed XXXX. Mexico. high-impact looking Grupo partnership prospect we're publicly Daenerys are to in a new our conglomerate Mexico, our drilling In We
announced in minority $XXX subsidiary, Zama's production. the $XX Approximately in of with purchase our Talos agreed May, previously million be the of XX.X% $XX will As million. for a owns stake at to first Mexico divest Carso we at XX.X% which paid remaining to closing, Zama Grupo million price
transaction to influence significant through the The our technical co-lead strong outcome of quarter ability in of third is of Zama, economic and our Carso's project's to the installations Talos' baseline investment the potential expected and XXXX. endorsement as the a strong close project is roles valuation capabilities offshore integrated Talos approximately million deal FID and Mexico The drilling the toward project team. and while advance within production. preserving established $XXX for first we upside a of
and progress working towards FEED, the completion final financing final following project approvals. securing FID review are design hard engineering We to or of and in
we gross barrels anticipate per project At equivalent an approximately of oil day, important for it peak of XXX,XXX for making production Talos and production, shareholders. Mexico
process. where is our our interest. for week, project, Talos milestone known to VI CCS we as filed Harvest important an permit first our progressing Low XX% Class River Turning This EPA formerly Talos forward Carbon Bend we Bend, business. as application Solutions the Last a permitting look holds to
year-end. permit across application intend EPA Class our at additional by VI least We to file portfolio also CCS X
our preparing to second first We at half are operated offshore Bend also of Bayou Talos during well drill stratigraphic XXXX. the
to to expects data test to in the demonstrate Additionally, wells critical of poor large stratigraphic store the COX. the quality onshore of XXXX. partnership of Chevron-operated will drill space our provide our These quantities a ability well first and half superior
for As well provide process. permitting as our additional application support
storage properties Gulf for sequestration Coast. with geology the U.S. well-understood along Talos the owns a superior leading carbon rock COX portfolio required with
capture make is right footprint the viable. projects their complex strategically of located concentrated we markets. emissions large industrial incentives And clusters economic COX emissions to Our the close these industrial has to believe to
We discussions retrofitting their as with industrial customers to understand meet decarbonization required continue continue to goals. they the have to potential
sense our capital on execution ongoing, carbon recent business for Talos. will to And portfolio the explore value operational the whether while in raise create continue also a is long-term CCS believe We help we that makes storage for process. business, here her CCS any in her Chief role like shareholders Officer. highlight to Talos' Robin and achievements our questions additional of progress as also enhance that I'd Sustainability for is the but take to
public our ESG Recently, engagement continued a strengthen effort Talos honored operations, the commitment producer and was The Producer, two in ESG sustainable positive in recognizes category. and sustainability. for community only award workplace of Award to to culture. Energy We were to Public Hart one for recognized our local the recipients XXXX advancements a receive
enhancement. safety community our and to of are best outreach industry our commitment recent or governance our execution, proud practices. operational We progress, environmental health, Whether in employees'
ESG to contribute all They advancing Talos' journey.
our the opportunities skill or actively M&A position. larger technical strong evaluate we are business front, improve This transactions. preserve and credit business fit and strategic sets opportunities strategies to and to spans accretive development On our bolt-on continue development, our shareholders that
to With these our financial I'll XXXX to plans over quarter. updates Sergio second key and for it on turn address goals, details our the
