RAPIDLY PROGRESSING GUYANA DEVELOPMENTS
GROWING PERMIAN FREE CASH
Retaining development pace optionality and flexibility
CAPEX
Indexed to 2021
300%
200%
100%
D&C
Facility/other
~460
>550
PRODUCTION
Koebd, net
>800 KOEBD
Pace of investment continues to be set by
objective to:
Maintain positive free cash
Deliver industry-leading capital efficiency
BY 2027
1,000
>800
500
>$5 BILLION
FREE CASH POTENTIAL IN 20271
>10%
•
-
Achieve double-digit returns at <$35/bbl
Retaining development pace optionality
depending on market and learnings
2022-2027 Capex 50% above 2021
-
Drilling and completions driving Capex,
consistent with plans
Major surface facilities in place
2022 production outlook >550 Koebd, up
25% versus 2021
0%
0
2019
2021
2022 2027
RETURN AT <$35/BBL²
―
10-12 rigs, 6-8 frac crews
See Supplemental Information for footnotes and definitions.
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