“And for taxes, we expect our effective corporate tax rate to be in the 36% to 37% range of strip prices, and that’s excluding any one-time items and that’s with an effective cash tax rate in the 33% to 34% range.”

In context

“y to 1.92 million barrels of oil equivalent per day, a roughly 1% to 3% underlying growth. While the first quarter will have minimal turnarounds, similar to the fourth quarter, it does include a 20,000 barrel per day headwind from January weather impacts. For APLNG, we expect distributions of $400 million in the first quarter and $1.3 billion for the full year. Now shifting to cost guidance, we see full year adjusted operating costs in a range of $8.9 billion to $9.1 billion, representing essentially flat unit costs on a year-over-year basis. Full year cash expiration expenses are expected to be $300 million to $400 million, and DD&A expenses are expected to be in a range of $9.4 billion to $9.6 billion. Full year adjusted corporate segment net loss guidance is $1 billion to $1.1 billion. And for taxes, we expect our effective corporate tax rate to be in the 36% to 37% range of strip prices, and that’s excluding any one-time items and that’s with an effective cash tax rate in the 33% to 34% range. For capital spending, our full year guidance range is between $11 billion to $11.5 billion, which includes $200 million to $300 million of capitalized interest. Now on slide eight of the presentation, we provided bridge from 2023 to 2024 with some of the key year-over-year variables, most of which we’ve discussed on prior earnings calls. These include our expectation of $200 million to $300 million in deflation benefits, primarily in the Lower 48; $200 million to $300 million of lower spending in Norway following the startup of our four subsea tieback projects; and $500 million to $600 million in lower LNG spending, mostly at Port Arthur. These decreases are offset by a $900 million to $1 billion increase at Willow, and $100 million to $200 million increase in Canada to account for the ac”