“we'd expect continued increase in line with our activity set and production level.”

In context

“Jim. Thanks for the question. That -- the expense line you're referring to is driven, I think, largely in 2025 by the very large slate of new projects we have coming online, which, as Darren has just walked through, is very much on track, on schedule and on budget. The additional item there would be in DD&A where, of course, this year versus last, we would expect a higher level of noncash DD&A given the full year of Pioneer in our numbers, and given the growth in our production volume and the same -- very same new projects. So I think to the extent going into 2026, we will revisit that as part of our corporate plan in the fourth quarter. But to the extent additional new projects, which will be more marginal next year compared to this, and increased production, which will drive that DD&A, we'd expect continued increase in line with our activity set and production level. That said, an offset to our expenses is always our success in continuing on our path of realizing structural cost savings. This year to date, we've added $1.4 billion to that total. We expect to continue that to get to our $18 billion target by 2030 off a 2019 basis, and we see that as effective in offsetting some of the increased expense levels, which is largely activity driven. Darren W. Woods: Yes, I would add to that. If you look at the -- in 2019, our cash OpEx and look at where we're at today, ex-energy cost and ex- production taxes, we're actually still lower than we were in 2019, our operating expenses. So we've offset all the inflation and all the growth that we put into the business with the savings that we've been driving here since that time. So I'm sure anybody else could giv”