“We do expect low to mid-single digits growth for the year, and that's pretty consistent with the long-term 4% to 5% CAGR we presented at our Investor Meeting.”

In context

“tainly see that all leveling off. As you mentioned before, we've probably seen deflationary trends in steel tubulars, oil price-related commodities such as fuel and chemicals, beyond that on the rig and other services. They've certainly leveled off. We may be trending towards some reductions. We have seen rig counts peak and begin to decline. That's led by the gas basins. So our teams are very focused on costs, and they're working with our many service providers on that, but we still expect around the mid-single digits at this stage on inflation. Having said that, we certainly see capital efficiency coming through. I think that's really on an execution front. So we've had a strong start, particularly in the Lower 48. Our full year production guidance, as we've said, is up at the midpoint. We do expect low to mid-single digits growth for the year, and that's pretty consistent with the long-term 4% to 5% CAGR we presented at our Investor Meeting. We're holding our capital range the same with $11 billion at the midpoint. So we're definitely seeing some execution efficiency. We're pleased about that. Nick, you may want to talk a little bit more about the Lower 48 on that so. Nicholas Olds : All right. Thanks, Dom. Yes, Sam, just to take you back to the analyst call when we talked about drilling and completions efficiency. If you recall, we had from 2019 to 2022, we had a 50% improvement in drilling, 60% improvement in completion at stages per day. We continue to see that in Q1, very promising results, and that's the use of technology like simul-frac, e-frac. We're testing out some remote frac as well where we keep a frac spread on pad 1 and then we frac pad 2, pad 3, pad 4. So very promising results there. as well on the drilling fr”