Talos Energy Inc. (NYSE:TALO) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET

Company Participants

Clay Jeansonne - IR
Tim Duncan - President and CEO
Sergio Maiworm - SVP and CFO

Conference Call Participants

Neil Mehta - Goldman Sachs
Leo Mariani - ROTH MKM
Jarrod Giroue - Stephens
Jeff Robertson - Water Tower Research
Noel Parks - Tuohy Partners

Operator

Good morning ladies and gentlemen, and welcome to the Talos Energy Second Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]

This call is being recorded on Thursday, August 8th, 2024. I would now like to turn the conference over to Clay Jeansonne for the start. Please go ahead.

Clay Jeansonne

Thank you, Operator. Good morning, everyone, and welcome to our Second Quarter 2024 Earnings Conference Call. Joining me today to discuss our results are Tim Duncan, President and Chief Executive Officer, and Sergio Maiworm, Executive Vice President and Chief Financial Officer.

For our prepared remarks, we will refer to our second quarter 2024 Earnings Slide presentation, which is available for viewing and downloading on Talos's website. Now let's start on Slide 2, cautionary statements. I'd like to remind you that our remarks will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in yesterday's press release and our Form 10-Q for the period ending June 30, 2024, filed yesterday with the SEC.

Forward-looking statements are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information or future events. So in this call, we may present GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in yesterday's press release, which was filed with the SEC and is available on our website.

And now I'd like to turn the call over to Tim.

Tim Duncan

Thanks, Clay, and welcome everyone to our call. We're looking forward to highlighting a fantastic quarter from an operational and financial execution standpoint and introduce a new project we picked up in the quarter. So let's get right into the slide deck. Let's jump in on slide 3.

As I look at this introduction slide, I always like to start on the right side of the page and talk about the core tenets of our strategy. We like having oil-weighted production in the Gulf of Mexico. We think it's critically important to have infrastructure where we can focus on short cycle times in our drilling inventory and lower break even. We think if we execute that program well, it leads to consistent generation of free cash flow, which certainly we saw in the second quarter.