“All of this in aggregate puts us in a very strong position for our early oil expectation in 2029, and all that is on track.”

In context

“or us was the East–West scope, and that is important because it allows us to begin to make the connections back into the existing operations. By that I mean Western North Slope or Alpine. With those connections, within the coming week we will be bringing fuel gas in, and we will be firing up our power for Willow. We have been really successful in accomplishing the scope in Willow that we have laid out as we continue to commission the op center. With engineering largely wrapped up and complete, here in the Lower 48 on the Gulf Coast our process modules achieved a similar milestone—slightly better than 50% complete in fabrication. That is important because next summer we have plans to sealift those into Alaska, which becomes the next major milestone to get those processing modules up there. All of this in aggregate puts us in a very strong position for our early oil expectation in 2029, and all that is on track. That is important as it underpins the compelling value proposition of the $7 billion free cash flow inflection. Thinking beyond that is exploration. As you heard from Ryan, we had a strong showing here too. We speak a lot to the four wells that we had planned this year, which were successful for us, but this is the largest winter season in exploration that we have had since 2020. With that came the four wells, but we also shot seismic, and we also did quite a bit of gravel exploration and had a really high success ratio there on finding gravel for future pads. When we look at that exploration program, I am pleased to report we found hydrocarbons where we were exploring. Naturally, our subsurface teams are pouring over the results, seeking to ensure that we can characterize what we found.”