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Mmawa wabwino, amayi ndi abambo, ndipo mwalandilidwa ku Murphy Oil Corporation Fourth Quarter 2019 Earnings Conference Call.[Malangizo Othandizira]
Ndikufuna tsopano kupereka msonkhano kwa Kelly Whitley, Wachiwiri kwa Purezidenti, Investor Relations and Communications.Chonde pitirirani.
M'mawa wabwino, ndikukuthokozani nonse chifukwa chobwera nafe pa foni yathu yopeza gawo lachinayi lero.Ndili ndi Roger Jenkins, Purezidenti ndi Chief Executive Officer;David Looney, Wachiwiri kwa Purezidenti ndi Chief Financial Officer;Mike McFadyen, Wachiwiri kwa Purezidenti, Offshore;ndi Eric Hambly, Wachiwiri kwa Purezidenti, Onshore.
Chonde onani zithunzi zomwe taziyika pagawo la Investor Relations patsamba lathu mukamatsatira kutsatsa kwathu lero.Masiku ano manambala opangira mafoni, nkhokwe ndi ndalama zimasinthidwa kuti zichotse chiwongola dzanja chosalamulirika ku Gulf of Mexico.
Slide 1, chonde kumbukirani kuti ndemanga zina zomwe zaperekedwa panthawiyi zidzaganiziridwa ngati ziganizo zoyang'ana kutsogolo monga momwe zafotokozedwera mu Private Securities Litigation Reform Act ya 1995. Momwemo, palibe chitsimikizo chomwe chingaperekedwe kuti izi zidzachitika kapena kuti zoyembekeza zidzakwaniritsidwa.Pali zinthu zingapo zomwe zingapangitse kuti zotsatira zenizeni zisiyane.Kuti mumve zambiri pazowopsa, onani Lipoti Lapachaka la Murphy la 2018 pa Fomu 10-K pafayilo ndi SEC.Murphy alibe udindo wosinthira pagulu kapena kukonzanso zomwe akuyembekezera.
Zikomo, Kelly.Mmawa wabwino, nonse, ndipo zikomo pomvera kuyimba kwathu lero.Pa Slide 2 m'nthawi yonse ya '19 tidachita bwino dongosolo lathu lopanga katundu wolemera mafuta kuti tipeze kuchuluka kwa ndalama zomwe tikukula, zomwe zimabweretsa kubweza kwakukulu ndikusintha kampaniyo kuti ikhale yotsika mtengo kwanthawi yayitali pomwe tikupitiliza kubweza ndalama. eni masheya.
Chuma chathu chonse -- zomwe timapanga pachaka zidakwana migolo 173,000 yofanana patsiku ndi mafuta 60%, tawona kuwonjezeka kwakukulu kwa kupanga kuchokera ku katundu wathu wa Eagle Ford Shale ndi Gulf of Mexico ndipo timanyadira kukhala otsogola asanu a Gulf of Mexico. Mtumiki waku Mexico.Pafupifupi mafuta onse amafuta athu akupitilirabe kugulitsidwa pamtengo wokwera ku WTI, West Texas Intermediate, ndipo chifukwa chake, tidapanga $145 miliyoni yaulere mu 2019. Timagwiritsa ntchito ndalamazi kuphatikiza ndalama zomwe tapeza kuchokera kugulitsa kwathu ku Malaysia. chuma kuti chibweze ndalama zoposa $660 miliyoni kwa omwe ali ndi ma sheya kudzera mugawo lagawo la kotala limodzi ndi pulogalamu yogulira magawo ambiri.Tikukhulupirira kuti Murphy ndi kampani yosinthika yomwe ili ndi kuthekera kwakukulu m'tsogolo pamene tikupitiliza kupanga chuma chathu cha Eagle Ford Shale, Canada ndi Gulf of Mexico ndikulonjeza zabwino kuchokera pamapulogalamu athu ofufuza ku Gulf of Mexico, Brazil ndi Mexico.
Chofunika koposa, talengeza lero kuti tachita chikumbutso chomvetsetsana ndi ArcLight Capital Partners, zokhudzana ndi umwini wathu wa 50% mu makina oyandama a King's Quay ndipo tikugwira ntchito ndi mapangano otsimikizika okhudza mbiri yakale komanso yamtsogolo ya polojekitiyi, kuphatikiza kubweza ndalama pafupifupi $125. miliyoni zomwe zidagwiritsidwa ntchito mu 2019. Kuti tikambirane mwatsatanetsatane mapulani athu athunthu a 2020 titawunikanso zotsatira za kotala yachinayi ndi chaka chonse.
Slide 3. Kupanga kotala lachinayi kunali kofanana ndi mbiya 194,000 patsiku ndi voliyumu yamadzimadzi 67%, zotsatira zopanga zidaphatikizapo kutsika kosagwiritsidwa ntchito kosakonzekera kwa migolo 1,900 yofanana patsiku ku Gulf ndi migolo 1,000 yofanana patsiku ku Terra Nova ku Canada, ku Canada. Anagwiritsanso ntchito nthawi yosakonzekera yofanana ndi migolo 1,500 chifukwa cha kusokonekera kwa zida zapanyanja pamunda wathu wa Neidermeyer ku Gulf of Mexico.Izi zadzetsa kukhudzidwa kwa masiku asanu pamunda wa zitsime zitatuzo ndipo chitsime chimodzi chimakhalabe pansi mpaka kukonzanso kukamalizidwa ndi kotala yachiwiri ya 2020.
Ponena za Terra Nova, tidaneneratu kuti gawoli likhalabe mu 2020 kuti tithane ndi zosintha zachitetezo ndikumaliza ntchito yomwe idalengezedwa kale.Izi zimabweretsa kugunda kwa migolo pafupifupi 2,000 muukonde wopanga ku Canada kupita ku Murphy kwa chaka chonse cha 2020 komanso zofananira zopitilira 3,000 patsiku kotala yoyamba ya 2020.
Chiwombankhanga cha Ford Shale, kupanga kudakhudzidwa kwambiri ndi migolo ya 3,600 yofanana patsiku mgawo lachinayi, chifukwa cha ntchito yabwino - ogwira ntchito bwino pazitsime zapamwamba ndi Catarina, komanso zitsime za New East Tilden zomwe zimagwira pansi pa zitsime zakale za Tilden, koma zimapanga. m'munsimu zomwe tidagwiritsa ntchito kotala.Ponseponse, kupanga kwazaka zonse za 2019 kunali kofanana ndi 173,000 patsiku kumapangidwa ndi 67% zamadzimadzi, makamaka mafuta amakula 14% kuchokera pazaka zonse za '18 mpaka zopitilira 103,000 patsiku, chifukwa cha kugulitsa zinthu zamafuta aku Malaysia, kuwonjezera mafuta olemera a Gulf of Mexico.
Slide 4, malo athu osungira akadali okulirapo mu 2019 ndi kugula katundu wa Gulf of Mexico pang'ono - kuthetseratu kugulitsa kwa malo aku Malaysia pakati pa chaka.Zosungira zathu zotsimikizika kumapeto kwa chaka cha 2019 zinali zofanana 800 miliyoni patsiku ndi zakumwa 57%.Ndipo timasunga moyo wosungika pafupifupi zaka 12.Kuonjezera apo, tinawonjezera gulu lathu lachitukuko lomwe latsimikiziridwa kufika pa 57% ya nkhokwe zonse kuchokera ku 50% mu 2018. Ponseponse, chiŵerengero chathu cha chaka chimodzi cha organic reserve m'malo chinali 172%, pamene ndalama zathu za F & D zazaka zitatu zili pansi pa $ 13 pa BOE.
Zikomo, Roger, ndi m'mawa wabwino nonse.Kwa kotala yachinayi zotsatira za Murphy zidakhudzidwa kwambiri ndi kutayika kwakukulu kwa $ 133 miliyoni kopanda ndalama kumsika pamiyala yathu yamafuta, komwe kunali $56.42 pamigolo 45,000 patsiku chaka chino.Mwachilengedwe, kutsika kwaposachedwa kwamitengo yamafuta m'masiku apitawa a 30 kwathetseratu kutayika kumeneku, ndipo kwenikweni tingakhale ndi malo abwino pamsika kumapeto kwa bizinesi dzulo pafupifupi $ 56 miliyoni;makamaka chifukwa cha kutayika kumeneku, tidalemba ndalama zokwana madola 72 miliyoni pagawo lachinayi kapena $ 0.46 pagawo lililonse.
Komabe, mukamakonzekera kutayika kwa msika muzinthu zina zingapo, tidapeza $25 miliyoni muzopindula zosinthidwa kapena $0.16 pagawo lochepetsedwa.Zopindulitsa zomwe zasinthidwa zimabwezera osati kungotayika kwa msika komwe kwatchulidwa pamwambapa, komanso kuwonjezereka kopanda ndalama kwa mtengo woganizira modzidzimutsa komanso kutayika chifukwa cha kutha kwa ngongole, zonse zitatuzo zidakwana pafupifupi $138 miliyoni. pambuyo pa msonkho.
Slide 6, gawo lalikulu la njira ya Murphy ndikugwiritsa ntchito ndalama zomwe zimachokera ndi ndalama zochulukirapo zomwe zimabwezeredwa kwa omwe ali ndi masheya kudzera mugawo lathu la kotala.Monga mukuwonera pachithunzichi, tapezanso ndalama zabwino mchaka chonse cha 2019 ngakhale titachita zambiri zomwe zidamalizidwa koyambirira kwa chaka.Pagawo lachinayi la ndalama zogwirira ntchito zidakwana $ 336 miliyoni, pomwe zowonjeza za katundu ndi zowononga zowuma zidafika pa $335 miliyoni zomwe zidapangitsa kuti ndalama zokwana 1 miliyoni zitheke.Ndizindikira kuti izi ndi pambuyo poganizira za kusintha kwa ndalama zogwirira ntchito zomwe zinachititsa kuti ndalama zogwirira ntchito zikhale zotsika ndi $ 57 miliyoni.
M'chaka chandalama cha 2019 pa ndalama zonse za $ 1.5 biliyoni kuchokera ku ntchito zomwe zidalipiridwa $ 1.3 biliyoni yazowonjezera katundu, potero zimakwaniritsa pafupifupi $ 145 miliyoni za ndalama zonse zaulere kwa miyezi 12.Monga momwe talengezera pa foni yathu yachitatu, tidamaliza pulogalamu yogulira $ 500 miliyoni mu Okutobala 2019. Komanso mu kotalayi, tidakulitsa mbiri yathu yakukhwima yangongole popereka $ 550 miliyoni ya 5.875% zolemba zakale zomwe zidalipo mu 2027, ndi ndalama zomwe tidagwiritsa ntchito popanga ma tender. ndikuguliranso ndalama zokwana $521 miliyoni zomwe zidatsala pang'ono kutha mu 2022. Mphamvu zathu zachuma ndi kukhazikika kwandalama zimasonyezedwanso ndi ngongole yathu yonse ya EBITDAX yosinthidwa chaka ndi chaka cha 1.5 kumapeto kwa kotala yachinayi.
Slide 7, njira ya Murphy yoyang'ana kwambiri katundu wolemera kwambiri wamafuta ikupitilizabe kulipira ndi 95% yamafuta athu adagulitsidwanso pamtengo wokwera ku WTI kwa kotalayi, ngakhale kusiyanasiyana kukulirakulira m'misika ya Gulf Coast.Katundu wathu wapakati wa Eagle Ford Shale ndi North America wakunyanja akupitilira kupanga zotsatira zolimba ndi gawo la EBITDA pa BOE ya $31 ndi $30 pa mbiya mu kotala, motsatana.Izi ndizinthu zapamwamba kwambiri ndipo zikupitiliza kuyendetsa ndalama zathu zamphamvu chaka ndi chaka.
Slide 8, mfundo yofunika kwambiri ya njira ya Murphy ndikubweza ndalama zonse kwa omwe ali ndi ma sheya kudzera mugawo lathu lomwe lakhalapo kotala kotala, komanso njira zogulira zogawana monga pulogalamu ya $ 500 miliyoni yomwe idachitika chaka chatha.Izi zitha kuchitika pokhapokha popanga ndalama zaulere, zomwe takhala tikuchita chaka ndi chaka.Ponseponse Murphy wabweza ndalama pafupifupi $4 biliyoni kwa omwe ali ndi masheya kuyambira 2012 kudzera m'magawo ndi kugawana zowombola popanda kuperekedwanso.
Zikomo, David.Slide 9 pamene tikuyamba chaka chathu cha 70 monga mabungwe ophatikizidwa, ndife onyadira kwambiri ndi ulamuliro wathu wamkati, womwe umathandizira ntchito zathu pazachuma.Mamembala athu a Board ali ndi chidziwitso chambiri mumakampani, makamaka ndi magwiridwe antchito mu HSE komanso ndi chitsogozo chawo ndi chithandizo Murphy mosalekeza amayankha zachitetezo cha chilengedwe, kukhazikitsidwa mu Komiti ya HSE kuyambira 1994, ndikupanga chiwongola dzanja chapachaka chogwirizana ndi chilengedwe ndi chilengedwe. magwiridwe antchito achitetezo zaka zingapo zapitazo, ndikutulutsa lipoti lathu loyamba lokhazikika mu 2019. Murphy amadziwika ndi ISS ndi amodzi mwazochita zapamwamba kwambiri zaboma ndipo ali ndi 75% kuposa avareji ya anzathu.
Pa Slide 10, Board of Directors mu HSE Committee pamodzi ndi utsogoleri wa kampaniyo amayang'ana kwambiri kusintha kwa nyengo, chitetezo ndi zotsatira zina pazachilengedwe, ndi membala wonyadira wa mgwirizano wa chilengedwe Murphy amayang'anira ndikutsata mitundu ingapo yotayika nthawi yomweyo. Zolinga zamkati, zina zomwe zimalumikizidwa ndi chipukuta misozi.Magulu akulimbikitsidwa kuganiza mopitilira zotheka kuti apereke malingaliro athu kuti agwire ntchito zokhazikika monga kukonzanso 100% yamadzi athu opangidwa ku Tupper Montney asset, kuyesa scalability kuchepetsa kwambiri mpweya wotenthetsera mpweya, kwanthawi yayitali ndi mapampu achilengedwe omwe amapangidwa ndi frac padziko lonse lapansi. kumtunda portfolio.Ndi mbiri yathu yatsopano, tikuyembekeza kuchepetsedwa kwa 50% kwa mpweya wochokera ku 2018 mpaka 2020.
Tsopano ndikusamukira ku Slide 12, Eagle Ford Shale.Ndi kuwonjezera kwa zitsime 18 zomwe zikubwera pa intaneti koyambirira kwa kotala yachinayi kupanga pafupifupi 50,000 migolo yofanana ndi 77% yamafuta, mulingo wopangawu ukuyimira chiwonjezeko chopitilira 23% kuchokera pagawo lachinayi la '18.Komabe popeza palibe chomwe chidachitika m'miyezi iwiri yapitayi ya chaka chikuyembekezeka kuchepa mgawo loyamba, chifukwa zitsime zatsopano sizikhala zitayikidwa pa intaneti kwa masiku opitilira 100.Pulogalamu ya 2019 ya zitsime 91 imapatsa gulu lathu lakumtunda njira yokwanira yoyendetsa ndikubowola ndi kumaliza bwino, malo oyenga zitsime, kusunga nthawi ndikusintha njira zomalizirira.Zotsatira zake, mtengo wathu wapakati udakwera kufika pa $6 miliyoni pachitsime chilichonse.Kuphatikiza apo, magwiridwe antchito athu apakati a EUR akupitilizabe kuyenda bwino kuphatikiza kuchuluka kwapakati pa quartile komwe kukukulirakulira kuyambira 2016.
Slide 13, kuyambira pomwe tidapeza maekala a Kaybob Duvernay mu '16, tsopano tili ndi zitsime zopitilira 80 zomwe zikugwira ntchito pachinthu chonsecho, kupanga kumakhalabe kosalala mu kotala yachinayi pa 9,000 zofanana patsiku ndi 55% yamafuta.Kwa chaka chakuchita bwino kwambiri kuposa zomwe tikuyembekezera pafupifupi 20%, takhala tikuchita bwino m'derali, pobowola ndikumaliza ndalama zotsika mtengo zosakwana $6.3 miliyoni, kukumba chitsime chachangu kwambiri mpaka pano m'masiku 12 ndikubowola. wautali kwambiri mpaka pano pamtunda wopitilira 13,600.Monga gawo la njira yathu yopititsira patsogolo nthawi zonse Murphy wayamba kugwiritsa ntchito bi-fuel kuti achepetse kutulutsa kwa gasi wowonjezera kutentha ndi mtengo wa dizilo ku Kaybob Duvernay, izi zatheka kale kuchepetsa 30% kwa mpweya m'derali.
Slide 14, katundu wathu wa Tupper Montney adapanga ma kiyubiki mita 260 miliyoni patsiku kotala.Ndife okondwa ndi zotsatira zathu zabwino za 2019 chifukwa zakhala zikuchitika komanso zikugwirizana ndi ma curve amtundu wa 24 Bcf, kuwonjezeka kuchokera m'mbuyomu 18 Bcf mu 2018. ya CAD2.15 pa Mcf.
Slide 16 mu bizinesi yathu ya Gulf of Mexico Murphy tsopano ali pa malo omwe angokulitsidwa kumene ku Gulf of Mexico kwa miyezi isanu ndi umodzi ndipo kotala yachinayi bizinesi iyi idapanga zofananira 82,000 patsiku pazamadzimadzi 85%.Mu kotala yonseyi, tabweretsa zitsime zitatu pa intaneti titamaliza ntchito zolimbitsa thupi.Kuphatikiza apo, monga ndanena kale, tachita chikumbutso chakumvetsetsa kwathu pakupanga makina oyandama a King's Quay.
Slide 17, mapulojekiti athu akuyenda monga momwe anakonzera ku Gulf, pakadali pano tili ndi nsanja yobowola pulogalamu ya zitsime zitatu ku Front Runner komanso sitima yobowola yomwe imayendetsa ma workovers awiri mobwerera m'mbuyo, koyambirira. mtundu wa 2020. Monga tidzafotokozera mwatsatanetsatane mapulojekitiwa pamodzi ndi ena omwe alembedwa pazithunzizi abweretse ma voliyumu owonjezera pa intaneti kuti tipitilize kutulutsa kwanthawi yayitali monga momwe tafotokozera kale.Ntchito zathu zazikulu zanthawi yayitali ku Khaleesi / Mormont ndi Samurai zikuyenda bwino komanso ma contract aukadaulo ndi zomangamanga omwe aperekedwa posachedwa pansi pa bajeti.
Slide 19, kotala yoyamba ya 2020, tikuyembekeza kupanga zofananira 181,000 mpaka 193,000 patsiku kuwerengera kuchepa kwachilengedwe komanso nthawi yopumira, kuphatikiza zofananira 3,000 patsiku zomwe zimalumikizidwa ndi Terra Nova kukhala osalumikizidwa.Kupanga kwa 190,000 mpaka 202,000 pa 60% yamafuta akuloseredwa kwa chaka chonse cha 2020 kutengera dongosolo lalikulu la $ 1.4 biliyoni mpaka $ 1.5 biliyoni.Pa ndalamazo, pafupifupi $1.2 biliyoni ya bajeti yathu yaperekedwa ku chuma chathu mu Eagle Ford Shale ndi kunyanja.
Ndipo kuphatikiza pulogalamu yathu yayikulu yapachaka, cholinga chathu chachikulu ndikutulutsa ndalama zochulukirapo kuti tipeze gawo lathu pomwe tidapeza chuma chatsopano ku Gulf mu 2019 pali projekiti imodzi ku St. Malo waterflood, likulu lofunikira posachedwa ndi kukwera kwa kupanga kukuyembekezeka m'zaka zitatu.Ntchitoyi idakhudza kugawika kwathu kwachuma kwa 2020 popeza kudzipatulira kwathu ku cash flow capex parity kudatipangitsa kuti tisinthe dongosolo lathu kuti titsimikizire kutetezedwa kwa ndalama.Izi zimatilola kupitiliza kupindula kwathu kwanthawi yayitali ndikusunga ngongole pafupifupi 1.5 ku EBITDA.
Slide 20, monga tidakambirana m'magawo apitawa mapulani athu azaka zisanu Gulf of Mexico amakwanitsa kupanga pafupifupi 85,000 ofanana.Mchaka cha 2020, chiŵerengero chathu chonse cha $440 miliyoni chimapanga avareji ya chaka chonse cha 86,000 tsiku lililonse ndi zitsime zisanu ndi chimodzi zoyendetsedwa ndi zisanu zosagwiritsidwa ntchito zimabwera pa intaneti chaka chonse.Dongosolo la pulojekiti ya 2020 ndikuphatikiza zida zamapulatifomu, zogwirira ntchito ndi ma tiebacks monga tafotokozera m'mawonekedwe am'mbuyomu.Ponseponse, apanga pafupifupi $ 1 biliyoni ya ndalama zogwirira ntchito chaka chino.
Slide 21, kutengera pakati pa chitsogozo chathu cha capex, bajeti yathu yakunyanja ikuyembekezeka kukhala $855 miliyoni pomwe pafupifupi 80% ikuperekedwa ku Eagle Ford Shale.Ndife okondwa kupitiliza pulogalamu yathu yolimba kwambiri mu 2020 titachepetsa kwambiri ndalama m'zaka zingapo zapitazi pamene tikusunga njira yathu yogawa ndalama.Zitsime 97 zomwe zikubwera pa intaneti chaka chino zidayang'ana kwambiri kumadera athu a Karnes ndi Catarina.Kuphatikiza apo, tili ndi chiwongola dzanja cha 24% ndi zitsime 59 zosagwiritsidwa ntchito zomwe zakonzedwa kuti zizibwera pa intaneti chaka chonse, makamaka ku Karnes County.
M'kupita kwa 2020, kupanga kwathu kwa Eagle Ford Shale kudakulitsidwa pang'onopang'ono monga momwe anakonzera, kufika pa avareji yachinayi ya zofananira 60,000 patsiku.Kukula kolemera kwamafuta kumeneku kumatibweretsanso pamlingo womwe sitinakhale nawo zaka zingapo.Ku Kaybob Duvernay, tikukonzekera kugwiritsa ntchito $125 miliyoni kuti tibweretse zitsime 16 zogwiritsidwa ntchito pa intaneti pamene tikukwaniritsa ntchito yathu yoboola kumayambiriro kwa chaka.Kaybob Duvernay ikuchita bwino kwambiri pagulu lonselo ndi zotulukapo zapadera pakubowola ndi kumaliza bwino zomwe zakwaniritsidwa.
Mu Tupper Montney wathu wochulukira, tikugawa $35 miliyoni kuti tibweretse zitsime zisanu pa intaneti pamlingo wokwera kwambiri wogwiritsa ntchito zitsimezi kupanga ndalama zaulere pamitengo pafupifupi CAD1.60 AECO.Zochepa zomwe zimagwiritsidwa ntchito mkati mwa ndalama zaulere muzinthu zazikuluzikuluzi zimayikidwa bwino mu mbiri yathu monga gawo la zofunikira zapadziko lonse za gasi wachilengedwe monga m'malo mwa malasha kwa nthawi yayitali komanso tsogolo lochepa la carbon.
Slide 22, pulogalamu yathu ya 2020 ikugwirizana bwino ndi zolinga zathu zanthawi yayitali, tikukonzekera kugwiritsa ntchito pafupifupi $100 miliyoni ndikukumba zitsime zinayi, zomwe zikutitheketsa kuyang'ana zinthu zopitilira $500 miliyoni za migolo.Kumbali ya US ku Gulf, tili ndi chidwi cha 12% chosagwira ntchito ku Mt. Ouray bwino.Chiyembekezo ichi chikuyembekezeka kutha kumapeto kwa kotala yachiwiri.Ndife okondwa kwambiri ndi pulogalamu yathu ya zitsime ziwiri ku Mexico;Choyamba, tikukonzekera spud Cholula Appraisal motsatiridwa ndi chiyembekezo chatsopano choyang'ana chitsime choyamba chamchere cha Mexico chotchedwa Batopilas.Zitsime zonsezi ndi zanzeru pazolinga zathu zamtsogolo komanso ku Mexico.Ku Brazil tikupitiliza kukulitsa ziyembekezo zingapo, komanso kubzala - komanso kukonzekera kukupitilira.Wokondedwa wathu akuyembekeza kutulutsa chitsime choyamba koyambirira kwa 2021.
Slide 23, mukamawona mapulani athu pazaka zingapo zikubwerazi, ndikukhulupirira kuti titha kupanga pafupifupi $ 1.4 biliyoni yandalama zaulere titagawira gawo lathu, pomwe tikupereka CAGAR pafupifupi 5%, ndikusunga mafuta 60%.Tikwaniritsa izi pogawa pafupifupi $ 1.3 biliyoni pachaka ndi 1.4% mpaka 1.5% kukhala pulogalamu mu 2020, tikuyembekeza kukhala chaka chokwera kwambiri chogwiritsa ntchito ndalama zambiri.Pazaka zisanu zikubwerazi, katundu wathu wa ku Gulf of Mexico azipanga pafupifupi 85,000 zofananira pachaka, ndipo chiwombankhanga cha Ford Shale pakali pano chikuyembekezeka kukhala ndi 10% mpaka 12% yopanga CAGAR.Pamene tinkakonzekera ndalama zathu zapachaka zokwana madola 100 miliyoni a ndalama ndi kufufuza, zomwe zimatilola kukumba zitsime zitatu kapena zisanu pachaka.Ndikukhulupirira kuti muvomereza kuti iyi ndi pulogalamu yazaka zambiri.
Slide 24, tikulowa m'chaka chathu cha 70 ngati kampani ya Murphy Oil ili ndi chiyembekezo chamtsogolo pambuyo potuluka chaka chinanso chakuchita bwino kwa omwe adagawana nawo, poyerekeza ndi gulu lathu lomwe tapeza 95 peresenti pakubwerera kwa eni ake onse. pazaka zitatu zapitazi.Mbiri yathu yomwe yasinthidwa kumene yokhala ndi kafukufuku wam'mwamba ili ndi kuthekera kopitilirabe kutulutsa ndalama zaulere kuposa zomwe timapindula nazo.
Pomaliza, ndikuwona kuti tasintha bwino pomwe tikusintha Murphy kukhala kampani yoyang'ana kwambiri ku Western Hemisphere Oil.Izi zimatipatsa mwayi wopanga phindu kwa nthawi yayitali.Ndine wonyadira kwambiri kukhala m'modzi mwamakampani omwe asankhidwa kuti apange ndalama zaulere ndikubweza magawo - zopindulitsa zazikulu kwa omwe ali nawo lero.Ndipo tili ndi luso lapadera lopangira zabwino zomwe eni ake amagawana ndi mapulogalamu opitiliza kufufuza.Tikugawa ndalama kuzinthu zathu zolemedwa ndi mafuta ochulukirapo kuti zikule bwino, tikuchita zonsezi tikuyang'anitsitsa njira zopitirizira kugwira ntchito moyenera mtsogolomo.
Zikomo.Amayi ndi abambo, tiyamba tsopano gawo la mafunso ndi mayankho.[Malangizo Othandizira] Funso loyamba likuchokera kwa Brian Singer wochokera ku Goldman Sachs.Chonde pitirirani.
Funso langa loyamba liri pa Eagle Ford Shale, yomwe mudawunikira mu imodzi mwazithunzi, Slide 12, mukuyembekezera -- kapena kuti mudawonapo ma EUR okwera kuchokera ku zitsime zobowoledwa mu 2019. Ndipo ndimadabwa ngati mutha kuyankhula ziyembekezo zili mu 2020 motsutsana ndi 2019 kuchokera pamalingaliro amafuta a EUR.Zomwe mukuwona ngati zowopsa zolimbana ndi zovuta kuti mukwaniritse njira yakukula yomwe ingakankhire kupanga ku 60,000 BOE patsiku mgawo lachinayi?
Chabwino Brian, tiwona kupitiriza kwathu kuti sindikutsimikiza panjira yomweyi yomwe takhala nayo m'mbuyomu, tikuwona izi zikuyenda bwino pang'ono ndiukadaulo wa frac ndikusintha kwakukulu komwe gulu lathu lapanga.Komanso chaka chino ndi pulogalamu yosiyana kotheratu kuposa chaka chatha cholemera kwambiri ku Karnes ndi Catarina komanso zochepa kudera la Tilden komwe tinali ndi mavuto mgawo lachinayi.Koma dera la Tilden silinalakwe konse, linali lingaliro la zitsime za Tilden izi zikuyenda bwino kuposa EUR yomwe tili nayo m'malo athu otsimikiziridwa osatukuka ndiyeno dongosolo lathu lalitali, ndipo timasunga mulingo womwewo kenako idapita. kubwerera ku mlingo umene tikanakhala nawo mu ndondomeko ya nthawi yaitali pa zitsime zochepa kwambiri mu gawo lachinayi.
Nkhani yogawira ndalama ndi BPX yatsopano, yomwe ikubowola mwachangu atagula BHP m'dera la Karnes ndi zina zabwino kwambiri - zitsime za Eagle Ford Shale zotsika ndi zitsime zabwino kwambiri za Austin Chalk.Chifukwa chake akulowa m'malo momwe timagawira ndalama ku Tilden ndikuti tikubowola pachimake chaka chino komanso chiopsezo chosiyana kwambiri ndi zaka zam'mbuyomu ku Tilden komwe sitinabowole kwa zaka zingapo.Chifukwa chake tili ndi chidaliro pokwaniritsa izi chifukwa cha kufunikira kwa pulogalamu yathu yosagwira ntchito komanso pulogalamu yayikulu yosagwira ntchito mgawo lachinayi pomwe chaka chino tinali ndi ndalama zochepa kwambiri m'miyezi iwiri yapitayi ndipo tili lero ku Eagle Ford. ,Brian.
Zabwino.Zikomo.Ndiyeno chachiwiri ndi mafunso angapo panyanja.Kodi mungalankhule ndi zomwe mukuwona kumbali ya mtengo ndi zowopsa ndi zowopsa pamenepo?Ndiyeno padera zindikirani kuti nthawi yopumira komanso kusasunthika ndi gawo lomwe limagwira ntchito kulikonse, makamaka kumtunda, koma kodi mungalankhule za momwe mukuyika pachiwopsezo chanthawi yopuma mu 2020 chitsogozo potengera zina zomwe tawona pano posachedwa?
Chabwino, pachithunzi cham'tawuni pali mitundu iwiri ya nthawi yopumira m'madera akunyanja, pali nthawi yopumira yokhudzana ndi kusakonzekera komwe kumakuchitikirani nthawi ndi nthawi.Nthawi zambiri chaka chino tili ndi chilolezo cha 5% pantchito yathu yopanga nthawi yopumira yosakonzekera kapena nthawi yocheperako mubizinesi yathu.Kwenikweni mu 2020 tinali ndi nthawi yochepa yokonzekera kutsika komanso ndalama zochulukirapo, poyerekeza ndi zaka zam'mbuyo zomwe sitinakonzekere.Inde, ndizovuta kulosera nthawi zina, Brian ndizochitika zomwe zimachitika bwino, monga kusagwira bwino ntchito kwa zinthu zatsopanozi, monga ndidanenera kale lero tili ndi katunduyu kwa miyezi isanu ndi umodzi ndipo zida zidasweka, ngati mungafune mphamvu ya umbilical ndi chingwe chonyamulira ma hydraulic ndipo tidayenera kuzikonza ndikuzikonza, izi ndizovuta kuziyika mulingo womwewo komanso osowa kwambiri.
Koma m'malingaliro athu akumzinda wonse tili ndi chizindikiro ichi ndipo izi ndi zomwe timakonda kuchita komanso zomwe timakonda kuziwona kunja kwa zochitika zanthawi zonse.Ndipo monga tikumvetsetsa bwino za subsea, tikukhulupirira kuti tili nazo panthawi ino ndipo taneneratu molimba mtima.Komanso mkati mwa nthawi yopumayi 5% ndi yabwino kwa chaka cha, Brian pa nthawi ya masiku 365 akhala akuphatikizidwa -- pepani masiku asanu ndi awiri akupanga ziro ku Gulf chifukwa cha mphepo yamkuntho nthawi zambiri migolo yathu ku Gulf simazimitsidwa konse, Sindikukumbukira nthawi yomwe Gulf yonse idasiya kupanga, chifukwa tili ndi mapaipi osiyanasiyana m'malo osiyanasiyana ogwirira ntchito.Ndipo ndimaona kuti ndizoyeneranso chiopsezo.
Ndipo pachiwopsezo china chomwe tayika mu izi, chofunikira kwambiri ngati kuti mbiya yanu ndi katundu wa Terra Nova amayenera kutulutsa mpaka Meyi ndikupita kwa miyezi isanu ndi umodzi yowuma ndikubwerera mu Okutobala komanso chifukwa cha zomwe sizikudziwika kumeneko. anapita patsogolo ndikuyika izo ngati ziro.Chifukwa chake zikanasintha zokambirana zathu zam'mbuyomu zopanga, monga chidziwitso chatsopano, ngati izi zidangochitika pa Disembala 19.Chifukwa chake ndikuganiza kuti tili nazo bwino, mutha kutsitsa ziro, Brian.Ndiyeno timayika izo ndipo timakhala ndi nthawi yochepetsera nthawi ndi deta yambiri ku Gulf ndi chidziwitso chautali ndipo tsopano miyezi isanu ndi umodzi yophunzira machitidwe atsopano a subsea omwe tidagula ndipo timakhala omasuka ndi zomwe tili nazo.
Monga mtengo, Brian.Padzakhala kuwonjezeka kwa mitengo ya tsiku ndi nthawi yayitali.Tili ndi izi m'mapulani athu.Sindimakonda kukambirana zamitengo yomwe tili nayo pamakina osiyanasiyana.Koma zowona izi zikuchulukirachulukira, tifunika kuonjezera ndikuganiza kwa omwe amapereka chithandizochi, tikuwona pansipa bajeti pazida zam'madzi zam'madzi ndikuyika pansi pamadzi, zomwe zikupambana zambiri ndipo tikupitilizabe kuchita bwino kwambiri. zombo zazikulu zobowola zomwe zikupitilira vuto lililonse pakuwonjezeka kwa tsiku monga momwe zilili masiku omwe tili kumapeto kwa tsiku, ndipo mtundu wantchito zomwe tili nazo ku Khaleesi / Mormont zangokhazikitsidwa pazochita ziwirizi zomwe zikukhudza. , kutsirizitsa ndi kubowola panthawi imodzi -- ntchito panthawi imodzi, ndipo sindikukhudzidwa ndi ndalama zamalonda athu panthawiyi.Pamene ndikuwona kuchita bwino kumadya kuchuluka kwa masana ndipo pakadali pano, tikagula zida zina, zimatsika mubizinesi yathu yakunyanja.
Inde, Roger.Ndinali kudabwa ngati mungathe -- inde, m'mawa wabwino, bwana.Ndinali kudabwa ngati mungafotokoze zambiri za momwe King's Quay amachitira ndalama.Amuna inu muli ndi pepala labwino kwambiri lamphamvu.Ndinali kudabwa chifukwa chake ichi chinali cholinga chofunikira kuti chichitike.Ndipo mwina mutithandize ndi momwe mawu angawonekere?
Ndikadawona kuti njira yathu yamphamvu kwambiri yomwe tachita inali luso chabe, mukudziwa, zomwe zidali pacash flow capex parity.Chinthu chimodzi choyenera kudziwa pazochitika zapakati pa mtsinje wonse ku Malaysia zidachitika motere.Malo onse a Thunder Hawk ku Gulf adachitika motere.Bizinesi yathu yonse imachitika ndi mtsinje waukulu wapakatikati wokhala ndi wina.Takhala tikugwira ntchito motere kwa nthawi yayitali kwambiri ndipo uku ndikungopitilira dongosololi.
Sitingathe kuulula mitengo yomwe tikulipira pamalo onsewa, ndingaone ngati mtengo wabwino kwambiri wapakati, ngati mungatero, kulinganiza zomwe tsamba lathu la ndalama monga momwe mudalezera limapangitsa kuti mtengowo ukhale wotsika, chifukwa tasiyana. Ngongole ndi anthu ena atha kuchita nawo bizinesiyi, idakhala nkhani ya kusefukira kwamadzi ku St. Malo kubwera mu gawo lathu lalikulu, lomwe ndi projekiti yanthawi yayitali, ikuchita bwino kwambiri.Ndipo tikanatani pazaka zitatu zikubwerazi ndi ndalama zokwana $300 miliyoni ndikusunga CAGAR ndi kukula komwe tinali nako ndipo tidayesetsabe kupeza ndalama - thandizo lazachuma pa gawo limodzi la polojekitiyi.
Pulojekitiyi idakali ndi ndalama zambiri kwa ife ndipo tinaganiza zotenga umwini wathu mwanjira imeneyo, ngati mungafune, ndipo ndine wokondwa kwambiri ndi ufulu umene tili nawo mwachibadwa, sindingathe kuulula ngati zinganene zomwe ndidzalipire m'ma mtsinje mtsogolomo kapena mnzanga akufunanso.Koma opex yathu yonse ya kampani yathu izi zikafika pamzere, tikhalabe osewera asanu ndi anayi kapena asanu ndi anayi ndipo ndikumva kuchokera pamalingaliro onse, izi siziwoneka muzachuma.Ndipo ndinganenenso kuti kuchuluka kwa ndalama m'ndondomeko iyi ya dongosolo lathu lakutali ndikwambiri kuposa momwe tilili.Chifukwa chake ndili womasuka nazo zonse, Arun.
Chabwino.Ndipo kutsatira kwanga, Roger, kuli pachitsanzo, ndimadabwa, ngati mungatithandizire kulingalira momwe ntchito yapamwamba yogwirira ntchito ku Gulf of Mexico komanso mwina Eagle Ford ingakhudzire chitsogozo chanu cha LOE cha 2020?Ndimadabwa ngati mungatchulenso malingaliro anu pamtengo wamtengo wapatali wa mafuta mu '20 kuti muteteze capex komanso phindu?
Chabwino.Kuchokera pamalingaliro a opex, ndikuyembekeza kuti opex yathu ikhala yofanana chaka chino momwe tidagwirira ntchito.Opex yathu mgawo lachinayi inali pafupifupi $ 3 yokhudzidwa ndi ntchito imodzi yomwe tidagwiritsa ntchito potengera ndalama pachitsime chathu cha Chinook, zowona kuti zitsime zidabwera pa intaneti pa migolo 13,000 yofanana patsiku, pafupifupi mafuta onse.Ndipo ndingayembekezere zogwirira ntchito zomwe tili nazo pano, tili ndi chidwi chochepa pantchito imodzi mwazogwira ntchito, ndipo sindikuwona kuti kukhala dalaivala wamkulu pakusiyanitsa opx yathu yonse pachaka, koma mutha kukhala ndi kuwonjezeka kotala kotala ngati zitsime izi. Nthawi zambiri zimachitika mkati mwa mwezi umodzi kapena iwiri atagwira ntchito, masiku 45 amakhala odziwika bwino.Chifukwa chake zitha kukhala zokulirapo mu kotalayi, koma opx yathu pachaka monga kampani yonse komanso bizinesi yathu ya Gulf of Mexico iyenera kupitilirabe.
Kuchokera pamalingaliro, mumatenga pakati pa chitsogozo mu capex yathu, yomwe ndi cholinga chathu.Komanso chaka chatha, tidakwanitsa cholinga chimenecho ndipo tili ndi cholinga chimenecho kuchokera ku ndalama zomwe zimagwiritsidwa ntchito pamayendedwe andalama, ndipo ndingotero -- tili ndi cholinga chimenecho pazowonjezera, zomwe sizikutheka. ndalama panthawiyi, ndithudi, si cholinga chathu kuti tigwiritse ntchito pamwambapa kuti tili ndi zochitika zosiyanasiyana zomwe zingachitike, ndipo tsopano mtengo wamafuta uwu sungathe kupitirira pakati.Ngati tiyang'ana pamzerewu lero ndi momwe kachilombo kameneka kamakhudzira mitengo yamafuta, mwina tingafunike $55 palibe vuto, koma ngati mungayang'ane pamzere womwe ulipo, titha kupita kumapeto kwa chiwongolero chathu cha capex. $ 1.4 biliyoni mpaka $ 1.45 midpoint ndikulowa pakati kuti mukwaniritse kubweza gawolo.
Ndipo tikatero timakhala ndi mwayi wopezeka womwe suyenera kukhudza kupanga nthawi m'malo osiyanasiyana akampani omwe akufuna kuulula mtsogolo.Koma cholinga chathu ndikuphimba;cholinga chathu ndikuchidula ngati tikufuna kutero, ndikukumbukira izi, ndithudi, kutchingira kwathu monga momwe Davide adatchulira poyamba kumatithandiza pankhaniyi ndipo zikuphatikizidwa mu zomwe ndanena.Chifukwa chake pafupifupi $ 55 WTI pachaka, zomwe ndikuganiza kuti ndizotheka kwambiri.Si vuto konse.Ndipo m'dziko la 53, mukungonena za $ 20 miliyoni, $ 30 miliyoni za capex kuti zithetse izi, Arun.
Hei, m'mawa wabwino.Ndinkafuna kutsata pang'ono pa Eagle Ford pano, ndidawona kuti anyamata inu munali ndi nthawi yopumula mgawo lachinayi, ndikungoyang'ana chiwongolero chanu choyamba cha Eagle Ford, chikuwoneka kuti chatsika pafupifupi 15% motsutsana ndi 4Q.Ndikudziwa kuti mumalankhula zambiri za nthawi yabwino.Ndikungofuna kudziwa ngati palinso ntchito zomwe zikupitilira mu gawo loyamba la '20, zokhala ngati, zomwe zikukhudza kupanga ndipo mwina mutha kungoyankhula pang'ono pakupanga uku, mtundu wa, cadence ponseponse. chaka.Ndikudziwa kuti mudatchulapo za 60,000 mgawo lachinayi, kodi tiyenera kuwona njira yokhazikika mu 2Q ndi 3Q, ndiye mwina ndithandizeni pang'ono pamayendedwe ena a Eagle Ford pano?
Zikomo.Leo.Chifukwa chake mu kotala yachinayi, tidakhala ndi zotsatirapo zina kuchokera ku ntchito yabwino kwambiri pazitsime zokwera kwambiri kuposa momwe timakhalira tikakhala ndi ntchito yokonza zonyamula zonyamula anthu ku Eagle Ford, tidawona ntchito yofananira, koma timakhala ndi nthawi yocheperako. zokhudzana ndi zitsime zokwera kwambiri kuposa zitsime 300 mpaka 400 patsiku, m'malo mwa zitsime 40, 50, 60 patsiku.Kotero icho chinali chinthu chachilendo.Tidali ndi zitsime zatsopano zomwe zidabwera pa intaneti mu Seputembala ku Catarina zomwe zidakhala ndi nthawi yopumira pomwe tidatuluka ndikutsuka mchenga pazitsimezo, zitsimezo tsopano zonse koma chimodzi chabwereranso pamitengo yabwinobwino.Chifukwa chake kuchokera ku ntchito yaku Catarina, tikuwona migolo pafupifupi 500 kapena 600 patsiku zomwe zikuyenda bwino kuyambira pomwe tikulowera mu Januware.Munda wotsalawo uli ngati mzere ngati wamba.
M'zitsime za East Tilden, zomwe Roger adawonetsa kuti sizinagwire bwino ntchito yathu, koma zidapitilira zomwe tikuyembekezera kuchokera ku zitsime kuyambira 2015 ndi m'mbuyomu.Zitsimezo zidakhudza gawo lathu ndi migolo yopitilira 700 patsiku.Zotsatira zake kumayambiriro kwa 2020 zimakhala pafupifupi migolo 1,000 patsiku, ndipo zotsatira zake zidzachepa chaka chonse.Kotero ife tikuwona kuwonjezereka pang'ono kumayambiriro kwa chaka.Tinkayembekezera kutsika kwachilengedwe mu Eagle Ford ndi kutha kwa chitsime chathu, makamaka mu Seputembala komanso mu Okutobala chaka chatha, kutumiza kwathu kwatsopano kwapaintaneti chaka chino, pulojekiti yathu yoboola ndi kumaliza ikuyenda bwino kwambiri.Tili ndi pulogalamu ya zitsime zomwe zikubwera pa intaneti zomwe mu gawo loyamba zimafanana ndi zomwe zinkawoneka mu kotala yoyamba ya 2019. Ndiyeno kuyembekezera pang'ono kumapeto kwa gawo lachiwiri la zitsime zathu za Karnes zomwe zikubwera pa intaneti.Chifukwa chake ndikuwonjezera pang'ono kwa zitsime zatsopano mu gawo lachiwiri ndiye mudawona mu 2019. kukankha kwakukulu kwa zitsime za Karnes zomwe sizinagwiritsidwe ntchito kotala lachinayi la 2020.
Chabwino.Mtundu wothandiza kwambiri.Chifukwa chake zikuwoneka ngati ndizolemedwa bwino kwambiri pakukula kwa Eagle Ford mu '20 pano.
Zidzakhala choncho nthawi zonse, Leo.Mukasiya kugwiritsa ntchito kumapeto kwa chaka kuti muthe kunyamula katundu wakutsogolo, zomwe zikhala chinthu wamba ku Shale.Sitili Murphy chabe.Ndizovuta kuchita mwanjira imeneyo.
Pulogalamu yathu mu 2020 ili ndi zitsime 14 zomwe zikubwera pa intaneti kumapeto kwa chaka ku Karnes.Chifukwa chake tili ndi kasamalidwe kabwino kokhazikika mu 2020, poyerekeza ndi 2019. Chifukwa chake tiyenera kutuluka mchaka chapamwamba m'malo motsika pansi ndi kuchepa kwachilengedwe.Kotero mawonekedwe osiyana pang'ono chaka chino cha pulogalamu yathu.
Chabwino, ndiwo mtundu wabwino ndithu.. Ndipo ine ndikuganiza, ndimangofuna kutsatira pang'ono za mtundu wa zaka zingapo zikubwerazi malinga ndi momwe inu anyamata mukuganizira za momwe inu mumaganizira.Ndikudziwa kuti munanena kuti 2020 ndiyokwera kwambiri pa capex, ndikutanthauza, zikuwoneka ngati izi zimabwera kuno, mukudziwa, mpaka '21.Ndikudziwa kuti anyamata mumalankhula za 85,000 BOE patsiku ku Gulf of Mexico.Koma ndikamayang'ana ma slide anu ndikuwona zina mwazinthu zomangirira.Ndimangofuna kumvetsetsa, zikuwoneka ngati kulibe zitsime zambiri ku Gulf zomwe zikubwera mpaka kumapeto kwa chaka cha '21.Ndiye kodi tingayembekezere kupanga Gulf kutsika pang'ono mu '21 ndiyeno kukwera kwambiri mu '22 kodi Khaleesi ndi Mormont amabwera pa chilichonse chomwe munganene?
Chaka chino, kudzakhala kuchulukirachulukira kwakupanga kwazaka zingapo zikubwerazi ku Gulf, koma osatsika kwambiri pafupifupi, mwa zitsimezi ndi zitsime zokwera kwambiri mukaziwona pa tchatichi zomwe sizinawonetsedwe pano.Zitsime zopanda madzi, ndiye kuti ndi Kodiak momwe timasangalalira ndi chidwi chogwira ntchito kumeneko, imodzi mwaminda yathu yopindulitsa kwambiri yokhala ndi mphatso zabwino kwambiri.Ndikukhulupirira kwambiri pakuwerengera izi, ndinganene kuti likulu kuti lipereke izi mwina lili pansi pa chitsogozo choyambirira.Ndipo tili ndi zitsime zodziwika bwino zomwe zikubwera pamndandandawu komanso ku St. Malo ndi Kodiak komanso -- komanso Lucius.Chifukwa chake zomwe si-op sizikuwunikiridwa apa, koma tili ndi chidaliro chambiri pakupanga kwanthawi yayitali kwa cholinga ichi 85 komanso capex yochepera kumapeto kwa nthawi yokonzekera.
Ndamva, chabwino.Chifukwa chake, inde, zikuwoneka ngati pali zitsime zina zingapo zomwe zili m'masilayidi zomwe zithandizira kudzaza zina mwa izo.Chabwino ndizomveka.
Ndipo zitsimezi ndizopanga kwambiri, Leo, zokhala ndi chidwi chogwira ntchito zosiyanasiyana, koma izi ndi zitsime zapamwamba zomwe timachita pano.
Chabwino.Ayi, ndizothandiza.Ndipo ndikuganiza mwina potsiriza pofufuza.Pa Slide 22 yanu, ndimangofuna kuwona ngati tikhala ndi mitundu yochulukirapo paziyembekezo zomwe zikubwera kumapeto kwa chaka malinga ndi zomwe mumaganiza kuti zitha kukhala ku Batopilas kapena chitsime chomwe mudzakhala ine. kuyezetsa koyambirira kwa '21 ku Brazil, ndikungoyesa kudziwa kuti ndi mitundu yanji yomwe ingabwezere m'zitsimezo?
Chabwino, ndikutanthauza ife -- kuulula zamtunduwu kumafuna zambiri, zambiri zovomerezeka ndi anzathu ndiye chifukwa chake tilibe pano.Ndikutanthauza, nthawi zambiri ku Gulf of Mexico, mungayembekezere kufufuza bwino kukhala mwayi wa migolo 75 miliyoni kuphatikiza mwayi, izi ndi zomwe timakhala tikuyang'ana kumeneko.M'dera lathu la Cholula ku Mexico, tidapeza zomwe zidawululidwa chaka chatha, ndipo izi zinali malo abwino kwambiri okhala ndi mafuta ochepa - omwe anali ndi malo athyathyathya ngati mungafune, ndipo tiyenera kuchoka pamalowo kukhala malo osungiramo madzi m'modzi mwa zitsime, omwe analibe madzi m'derali, komanso kuti tachita ntchito zambiri zakugwedezeka kumeneko komanso mwayi wapafupi kwambiri ndi kuyankha kwachivomezi kumayendedwe onse a chitsime cha Cholula. .Ndipo m'dera lamtundu wotere kuchokera pachitsimecho ndi mwayi wapafupi womwe uli wofanana ndi womwewo, kuya kwa zaka zomwezo pafupi, ngati mungafune, izi ndi zinthu zamtundu wa migolo 100 miliyoni zomwe tikuzinyoza m'dera lalikululo.
Chifukwa chake tili ndi mabizinesi awiri ku Mexico pompano, imodzi ndi malo apakati a Miocene ang'onoang'ono m'migolo ya 100 miliyoni kumpoto chakum'mawa kwa Talos zomwe tapeza zomwe titha kuwonjezera ndikuwonjezera zofanana ndi zomwe timachita ku Gulf.Ndipo pali chitsime cha Batopilas ndi chitsime chachikulu choposa $160 miliyoni kukula kwake ndipo ndi nyumba yayikulu kwambiri ya Miocene pansi pa mchere.Ndiye mwayi umenewo, ndipo ndithudi, beseni lathu la Sergipe-Alagoas, sitikuwulula kukula kwa mwayi umenewo, womwe mungathe kuyembekezera chinachake chonga ichi ndi mnzanu yemwe tiyenera kukhala wamkulu.Ndipo ndikuyembekeza kuti iwo akhale akulu ndipo mupita ndi omwe ali pamwambawa 500 ndipo ndizo zonse zomwe tinganene za izi.Apanso chitsime chodziwika bwino ku Gulf 75, tikukhudza pang'ono, pafupifupi 100 ndi kupitilira apo ku Gulf - m'chigawo cha Mexico chokhala ndi zitsime zamtengo wapatali izi [Zosaneneka], zitsime zosungira, kwenikweni.Kenako mwayi waukulu wamtsogolo kwa ife ku Brazil womwe tili okondwa nawo.Koma fotokozani zochepa panthawiyi.
Mafunso awiri, ine ndikuganiza msika sakuyamikira mokwanira phindu la St. Malo kwenikweni nsanamira '24 nthawi.Kodi mungangolankhula za momwe kupanga kumawonekera kukangobwera pa intaneti mu '23 ndiyeno kupitilira patsogolo ndi nthawi yayitali bwanji - kutalika kwa ma voliyumu mudongosolo?
Mmawa wabwino, Gail.St. Malo imabwera kumapeto kwa '23 koyambirira kwa' 24, imawonjezera migolo yopitilira 5,000 patsiku kumayiko ena ndikuwonjezera migolo yokwana 32 miliyoni ya gawo lathu komanso NPV, NPV mu $150 miliyoni mpaka $160 miliyoni. ndi pafupifupi 18% mpaka 20% mlingo wobwerera pa $55 lathyathyathya mafuta.Chifukwa chake ndizofunika ndipo zimabwera nthawi yabwino pazantchito zathu zakunyanja.
Zabwino.Ndipo pa 2019 Gulf of Mexico inali ndi zosiyana zathanzi.Kodi mungangopereka mtundu wina wa momwe inu anyamata mumawonera zosiyana za GOM mu 2020?
Inde, ndikuganiza kuti kusiyanitsa ku Gulf kwakhala kwabwinoko kuposa zomwe zidanenedweratu kuchokera ku IMO 2020 zomwe sizinakhudze kwenikweni.Zosiyanasiyana ndizotsika kuposa momwe zinalili m'magawo a '19.Lero, mubizinesi yathu ya Mars komwe timayika chizindikiro kuchokera ku Mars ku Gulf of Mexico, izi zitha kukhala zonse zomwe tidagula kuchokera ku Petrobras, komanso Medusa yathu yakale komanso zomverera zotsogola.Ndi pafupifupi 36% yazopanga zathu, zosiyanazi zikupitilira $ 1 chaka mpaka pano, kusiyana kwa February ndipo ndi $ 1.40 zabwino, ma CHOPS ena aneneratu kuti adzakhala pansi pa dollar negative.Ndipo kuti tikuwona izi kukhala zabwino kwambiri kuposa momwe timaganizira poyamba.
Ku HLS ku Gulf, pafupifupi 21%, awa ndi ena okwera kwambiri, okwera kwambiri ozungulira Kodiak athu osagwiritsa ntchito bwino komanso bizinesi yathu yonse ya LLOG yomwe tidagula komanso gawo la dalmatian lomwe tili nalo ndipo tikugwira ntchito posachedwa kotala inayi, pamenepo. inali $4 yabwino ndipo tsopano tili m'gulu la 350, ndipo ndikumva bwino nazo.Chinthu china chabwino kwa ife ndi Magellan East Houston, MEH yomwe imayimira 33% ya zakumwa zathu zakale zomwe zikutuluka, bizinesi ya Eric ku Eagle Ford.Ndipo awiriwa akhala pafupifupi $3.40 kapena $3.40 zabwino ku WTI maziko momwe timayikamo ogwira nawo ntchito.Ponseponse, tikuyenera kukhazikika ndipo ndikukhulupirira mukayang'ana zamayendedwe ndi mtengo wamakampani athu, komanso komwe migolo yathu ili.Tidzakhala otsimikiza nthawi zonse kwa anzathu, chifukwa mawonekedwe apadera a komwe tikugulitsa migolo iyi komanso okondwa kwambiri ndi zomwe tili nazo, tikuganiza kuti ndi mwayi wampikisano Ndipo chifukwa chiyani tidawonjezera bizinesi yathu ya Gulf ndikugawa ndalama zambiri. ku bizinesi yathu ya Eagle Ford.Ngati muli ndi mitengo yokwera, mudzakhala ndi mwayi nthawi zonse.
Zikomo.[Malangizo Othandizira] Ndipo funso lotsatira likuchokera kwa Paul Cheng waku Scotia Bank.Chonde pitirirani.
Ngati muyenera kusintha capex kodi tiyerekeze kuti ili ku Eagle Ford kapena kuti mudzasinthanso madera ena?
Ayi, monganso sindikanakonda kuti ndisawulule izi pakadali pano.Tili ndi malipiro ovomerezeka a ndondomeko ya chitukuko ku Vietnam omwe ali mbali ya ndondomeko yathu, yomwe ngati mutapanga zochitika zomwe zingathe kuchedwa, ndipo tikuwona ndalama zina zosiyana ndi kufufuza kwina kumapeto kwa chaka.Tikuyesera kuti tichepetseko mwachilengedwe pomwe sitisintha kugawika kwathu kwakukulu kwa ndalama zobweza kwa ogwira ntchito ndi ma tie-backs ku Gulf, kapena kusintha dongosolo lathu la Eagle Ford panthawiyi.Ndikumva bwino kuti titha kuchita izi ndipo tidzatero, ngati tifunika kutero tizichita.
Zabwino.Ndipo ku Brazil kodi mwazindikira kale chitsime chomwe mudzakumba chaka chamawa -- kumayambiriro kwa chaka chamawa?
Tili ndi lingaliro labwino - tili ndi lingaliro labwino, koma tikuchita ndi bwenzi lalikulu kumeneko.Ndipo ndikuganiza kuti mutha kubwereranso ndikuwunika momwe akuwululira pulojekiti ina yayikulu kwambiri pakapita nthawi, ndipo mungayembekezere kuwululidwa kofananako kuno.
Chabwino.Ndiye simunathe kutipatsa -- mwina chandamale chobowola kapena china chilichonse chokhudzana ndi pano?
Chabwino.Ndipo mukanena koyambirira kwa chaka chamawa.Kodi tikulankhula za chiyambi cha kotala loyamba?Chani...
Inde.Dongosolo lokhazikika pamenepo likukhudzidwa ndi zilolezo komanso dongosolo la anzathu, kuphatikiza midadada ina yomwe ali nayo.Ndipo ndikuyembekeza kukhala koyambirira kwa '21 nthawi ino.Inde, bwana.
Chabwino.Ndipo izo zikhoza kukhala kuti ine ndinachiphonya icho.Ndikudabwa pamene mukunena kuti simukhala ndi chitsime chilichonse mu Eagle Ford kwa masiku 100 otsatira?
Ayi, ayi, ayi, kuyambira nthawi yomwe timayika chitsime kumayambiriro kwa Okutobala ndipo tikhala ndi zitsime zoyenda Loweruka.Kotero pakhala nthawi yayitali.
Kugawika kwakukulu kumeneku kumakhudzanso pulogalamu yathu ya Shale yodzaza kutsogolo ndipo tidachulukitsa kupanga kuposa EUR yathu wamba, tidawotchedwa pagawo lachinayi.Tsopano tili ndi nkhaniyi pamwamba pa projekiti yokonzekera nthawi yayitali.Takhala tikubowola ndi zida zitatu pamenepo kuyambira kumapeto kwa chaka.Ndipo tikubweretsa zopangira zitsime 10 pano mwachangu kwambiri ndipo tikumva bwino pakuwongolera kwathu komanso zomwe tikuchita kumeneko.
Ndife, Paulo.Tikuyamba izi -- tikuyamba Loweruka m'mawa.Papita nthawi, zomwe ndikuyesera kunena ndizovuta mu sewero la Shale ndipo mupeza kuti sizosowa kuyika chitsime m'masiku 100 koma tikubwerera ndikudina ndikuwonjezera zitsime mu kotala yonseyi. ndipo tili ndi zitsime zazikulu zomangira zitsime, monga momwe Erik adafotokozera poyamba paja.
Chabwino, ndipo yomaliza kuchokera kwa ine, mungatipatseko -- East Tilden ndi chiyani, kuchita bwino mu gawo lachinayi lomwe mukunena?Ndipo zolosera zamakampani zomwe mumagwiritsa ntchito zinali zotani?Ndipo mwasintha kale zomwe zanenedweratuzo kapena mukuganiza kuti chitsime cha East Tilden mgawo lachinayi chinali chodabwitsa ndipo chiwonetsero chanu cha capex chikadali, chabwino.
Zedi, Paulo.Chifukwa chake zitsime za East Tilden, tidabweretsa zitsimezo pa intaneti ma IP30 awo anali ogwirizana ndi zomwe taneneratu.Iwo si nambala yeniyeni, koma penapake pafupifupi 800 BOE patsiku avareji ya zitsime zisanu ndi zitatu.Chifukwa chake amawoneka bwino kwambiri kwa masiku pafupifupi 30 pambuyo pake tidayamba kuwona kuchepa kwamphamvu.Chifukwa chake - monga ndidanenera, pofika mu Januware kusiyana pakati pa zomwe taneneratu kale ndi momwe zitsime zopangira zitsime zisanu ndi zitatu zimagwirira ntchito zinali pafupifupi 1,000 BOE patsiku, ndipo tikuyembekeza kuti kusiyana kudzakhala komweko, koma kutsika. chaka monga chiyembekezo chisanafike chikuchepa monga zitsime zimachitira nthawi zonse.
Zikomo poyankha funso.Chimodzi mwazinthu zomwe mudapanga m'mawu anu oyambira ndikuti mwasinthanso maziko kuti mukhale sewero loyera la Western Hemisphere.Koma mukadali ndi kafukufuku waku Vietnam ndipo zikuwoneka ngati ndikungoganizira pang'ono pakadali pano.Ndiye ndikufuna kudziwa kuti pali zifukwa zotani zosunga zinthuzo?
Pali kusintha kwakukulu muzinthu izi.Tili ndi chidziwitso chachikulu kumeneko chomwe tikubweretsa pa intaneti, tikupanga chakudya, ndipo tikhala tikuvomerezedwa ndi boma kudzera m'boma - boma linali lochedwa kwambiri.Ndipo ife - ndi gawo lathu lalikulu sitinawathamangitse ngati mungafune.Ndi mkhalidwe wapadera kwambiri.Tangowonjezera chipika china ndi kudzipereka kwa chitsime chimodzi, tili ndi ziyembekezo zingapo zomwe zili pachiwopsezo chochepa chokometsedwa ndi ma jack-ups ndipo zimatilola ife mitundu yonse ya zokwezeka, koma panthawiyi ndikugawika kwakukulu kokhala ndi CAGAR yochepa komanso yaulere. kuyenda kwa ndalama ndikumanga bizinesi yokhala ndi ndalama zambiri zaulere.Zakhala zikucheperachepera zaka zingapo zoyambirira zabizinesi yathu, koma tikhala tikubowola kumeneko chaka chamawa, ndipo iyi ndi malo ogona kwa ife omwe ndi ofunika kwambiri ndipo amatilola kusinthasintha kwamitundu yosiyanasiyana yabizinesi yathu kupita patsogolo.
Chifukwa chake monga Vietnam, khalani ndi malo apadera kwambiri, malo olowera otsika mtengo kwambiri, zopezeka zabwino kwambiri kumeneko, padzakhala - kuyikidwa mu dongosolo lathu lalitali zili mkati mwa zomwe tafotokoza pano ndikusangalala nazo.Kusakhala likulu lalikulu kumeneko chaka chino pazifukwa zonse zomwe timawerenga tsiku lililonse.
Chabwino, funso lina lofufuza, ngati ndikumbukira, ndikuganiza kuti zaka zisanu kapena zisanu ndi chimodzi zapitazo mudayesetsa kubowola ku Suriname, imodzi mwazoyamba, ndikuganiza, E&Ps zapadziko lonse lapansi kuchita izi.Ndiyeno mtundu woterewu unasokonekera tsopano, inde, tikuwona mitu yankhani zaku Suriname tsiku ndi tsiku.Ndikufuna kudziwa, ngati muli ndi chidwi chowoneranso mipata yomwe ikubwerayi?
Tili ndi chidwi ndi mipata yonse mu Hemisphere yomwe timayang'ana kwambiri, yomwe ndi South America, Gulf of Mexico yoyenera ndi Mexico offshore komwe tili ndi mdawu wofunikira ndipo posachedwapa tawonjezera gawo lina ku Brazil ku Portiguar Basin.Zitsime zomwe timabowola zaka zambiri zapitazo, ndife masewera osiyana, nthawi yosiyana kwambiri.Ife -- monga mukudziwira, takhala tikufufuza padziko lonse lapansi, koma tikuyesera kuyang'ana pa kukhala ndi zambiri komanso kuyang'ana kwambiri pa data ndi mabeseni omwe timagwirira ntchito.Chifukwa chakuti sitinatenge nawo mbali, sizikutanthauza kuti sitinayang'ane pamenepo ndipo mtengo wa poker unali pamwamba pa zomwe timafuna kuchita.Komanso nthawi zina m'dziko loterolo zimamveka ngati zosavuta, koma mukawona mapangano osiyanasiyana omwe mudagwirizana nawo, kuyang'ana tsiku la munthu kudzakhala kukulepheretsani kukulitsa bizinesi kupita patsogolo.Ndipo m'malo ena timalephera kupanga mgwirizano womwe tingakonde kugwira nawo ntchito. Chifukwa chake tikuyang'ana mdera lino, sitikutsutsa kugwira ntchito kumeneko, koma sitinapeze mwayi womwe tikufuna kutenga nawo mbali. ndi komwe tingawonjezere phindu la eni ake.
Chabwino.Tilibenso mafunso lero ndipo izi zithetsa kuyimba kwathu lero.Tikuthokoza aliyense chifukwa chomvetsera, ndipo tidzakuwonani pazotsatira zathu za kotala yotsatira.Zikomo kwambiri.
Masheya 10 omwe timakonda kuposa Murphy OilPopanga ndalama akatswiri David ndi Tom Gardner ali ndi nsonga yamasheya, imatha kulipira kumvera.Kupatula apo, kalata yomwe akhala akuyendetsa kwazaka zopitilira khumi, Motley Fool Stock Advisor, yachulukitsa msika katatu.
David ndi Tom adangowulula zomwe amakhulupirira kuti ndizo khumi zabwino zomwe amagulitsa ndalama kuti agule pakali pano ... ndipo Murphy Oil sanali mmodzi wa iwo!Ndiko kulondola - akuganiza kuti masheya 10 awa ndiwogula bwino kwambiri.
Nkhaniyi ndi yolembedwa ndi kuyimba kwa msonkhanowu kwa The Motley Fool.Pomwe tikuyesetsa Kupambana Kwambiri Kwambiri, pakhoza kukhala zolakwika, zosiyidwa, kapena zolakwika pazolembedwazi.Monga momwe zilili ndi zolemba zathu zonse, The Motley Fool sakhala ndi udindo uliwonse pakugwiritsa ntchito izi, ndipo tikukulimbikitsani kuti mupange kafukufuku wanu, kuphatikiza kumvera nokha kuyimba ndikuwerenga zolemba zamakampani za SEC.Chonde onani Migwirizano ndi Migwirizano yathu kuti mumve zambiri, kuphatikizapo Obligatory Capitalized Disclaimers of Liability.
Motley Fool Transcribers alibe malo muzinthu zilizonse zomwe zatchulidwa.The Motley Fool alibe malo muzinthu zilizonse zomwe zatchulidwa.The Motley Fool ali ndi ndondomeko yowulula.
Malingaliro ndi malingaliro omwe afotokozedwa pano ndi malingaliro ndi malingaliro a wolembayo ndipo sakuwonetsa kwenikweni a Nasdaq, Inc.
Yakhazikitsidwa mu 1993 ku Alexandria, VA., Ndi abale David ndi Tom Gardner, The Motley Fool ndi kampani yazachuma yama multimedia yodzipereka kuti imange gulu lalikulu kwambiri lazachuma padziko lonse lapansi.Kufikira anthu mamiliyoni mwezi uliwonse kudzera pa webusayiti yake, mabuku, nyuzipepala, pulogalamu ya pawailesi, makanema apawailesi yakanema, komanso ntchito zamakalata olembetsa, The Motley Fool imachita chidwi ndi zomwe eni ake amagawana komanso kuchirikiza molimbika kwa woyika ndalamayo.Dzina la kampaniyo linatengedwa kuchokera kwa Shakespeare, yemwe opusa anzeru omwe adalangizidwa ndi kuseketsa, ndipo amatha kulankhula zoona kwa mfumu - osadula mitu.
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Inde!Ndikufuna kulandira mauthenga a Nasdaq okhudzana ndi Zamalonda, Nkhani Zamakampani ndi Zochitika.Mutha kusintha zomwe mumakonda kapena kusiya kulembetsa ndipo zambiri zomwe mumalumikizana nazo zimaphimbidwa ndi Zinsinsi zathu.
Nthawi yotumiza: Feb-24-2020