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what's the game plan that how should we look at over the next 2 or 3 years
Do you have any rough idea then how that look like in 2027 to 2030
where you think that is the biggest source of that upside
if we set aside, say, the capital constraint, just looking at organizational capability, where is the constraint
should we assume that you have oil price line further from here that you will be making -- you're going to shift more of the rig the gas
at what oil price that you would say the [indiscernible] is here or we are in the red mine and so you would take a more drastic cut
Shell Oil is getting mature. And as that happened, how over the next five years your capital allocation is going to shift
how should we look at it? Would you think that you still have such a huge portfolio that you really don't need to increase your exploration effort
can I just sneak in and just clarify or that confirm Willow, the CapEx is still at $7 billion. And in terms of Eagle Ford
do you think that Conoco need to start more maybe aggressively diversify away from the Lower 48 into your other area of operation
what's the running room in those assets? Terms of the tier one inventory backlog, if there's anything that you can share
is that means that Anadarko could be an area of interest for M&A?
Is there a target in terms of percent of your gas volume, you would like to be in that type of contracts
what should we assume is the maximum? How much? Or that the production that you could expect?
can you give us some idea that on by quarter, how's the well coming on stream and also the CapEx is going to try and look like?
how you see the opportunity set in two of the OPEC countries Libya, and Iraq, where a lot of your competitors seems to be believe that the opportunity sets have margin improved
have you changed the way that how you manage your base? And so has that become a repeatable?
how important going forward the exploration fit into your overall portfolio?
Can you give us some idea that maybe update us on -- in terms of the time line, what's the next step, the size of the project
the question has always been talking about longer term, say, by the turn of the decade
The fourth quarter Delaware result is really very impressive. I mean you have lesser number of TEU and then production is actually higher than expected
can we look at Bakken? Maybe that the data is wrong, but it does look like the well productivity is maybe come down a bit
how that the adoption now you are doing is different than what you've been doing? And also, that how you are different from the rest of your peers
not like the Delaware Basin, comparing to the number of wells that you bought on, the production is a little bit light for us
seems like productivity on a per gross well basis is down. What I want to caution you is there's a little bit of a difference in working interest
when you did dissolve the JV with BP, you're saying that you're going to save the cost by about $2 million per well. And from a design standpoint
How you transform your business? And how much is the potential upside in your free cash flow can generate from those initiatives
at a $65 to $70 WTI price, do you think we are running out of inventories?
Do you still see a lot of opportunity from an acquisition target standpoint out there
how should we look at that business in, say, five years’ time? What is the size of the business you can grow to?
where is the biggest opportunity to drive that down further? Is it coming from further improvement in drilling or completion
$65 WTI last year is really not that low. So still a bit surprising you have reserve write-down and also impairment charge
what percentage of the well that you are in the 3 miles or longer? And if we're looking at over the next several years
how the longer term, your business model need to be evolved over the next say, call it, 5 to 10 years
does that mean that you have to go outside the Permian or that the entire business model perhaps that needs to be changed
can you tell us that with the drawdown in stock, how much you estimate is the saving in CapEx
On a going forward basis, is that the the tie off good reasonable baseline we should assume going forward
how big is that impact, whether it is in the dollar per barrel or percent of capture rate?
With the two pending California refinery closure for your system, how do you think that is going to impact you?
Is that considered the cycle high? And over the next several years, what would be a more normal level or average for the cycle
how your strategy may be different than your peers? And there's also in the commodity business, there's always some fear
what is the root cause of the outages in the first quarter? And more importantly than what are the initiatives that you are doing
is there any one-off item in California for this quarter, we should be aware, or is there any other factor
as for the cycle, what's considered as a normal turnaround cost for you guys? Is $1.4 billion the new normal or this is considered somewhat of a high year
LCV we're not going to spend any money at all? And also that, I think for Richard, can you talk about the $400 million
Is the activity level, right now is being constrained by your capital? Or that is there any other thing is constraining the activity level
what's the potential that we could expect for those 2 years? And how big of the opportunity set that we may be talking
what percent of your 2025 program in the Permian is on the secondary branches versus the 2024
you expect the Permian oil cut is going to be higher in 2024 2025. And if that is correct, what would drive up the oil cut
Do you believe you could be a good consolidator in the refining industry? And do you have the desire to do it
in California, your marketing business. In the long haul, how you see them fitting into your portfolio?
if the margin is lower, that means that you're going to reduce further from the second quarter level
Should Phillips 66 visit or what is the cash balance that you really want to keep on the book
why I mean even though it's a great asset, why that is important for them to be part of the portfolio and what are synergy or that the integration benefit
how we prioritize between the two? That should the debt reduction take a more priority until that you are at a lower level?
Do you think you will start recording some of the benefit related to PTC or that you're not going to report any PTC credits until you are 100% certain
which of your refinery is currently under that contract
Do you think that now on a maximum full cycle basis, that you would be able to do better than that
do you guys think that we are seeing all this new technology now available to you is more the evolution or that is going to transform
part of the issue related to the margin capture is on the octane. Octane value comparing to the second quarter, I think, has come down
how you think it's going to impact on the global distillate yield as more of the medium sour is available
is that still economic for us that to export RD from DGD
when the when was the last major turnaround that you did? At Remington
What's your production expectation in the second quarter based on the current margin for Sandd
when you report the first quarter result in your result, should we just assume that you would take out the $1 per gallon for the PTC in your margin and not includin
do you see a lot of opportunity of reducing your energy cost further
what is your base underlying decline for your upstream portfolio
should we assume that at this moment, you are pretty running up against your organizational capability limit