Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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New words:
advanced, affordability, arithmetic, ASU, Busta, cargo, conclusion, counterproductive, differential, dioxide, economy, eroding, EUR, European, extension, favorable, forma, Gold, greenhouse, Heidrun, illustration, inclusive, Internationally, kilogram, LIFO, Malaysian, MCF, MMCFD, monthly, necessarily, observable, pace, Partnership, pro, Progressed, progressing, properly, prospectively, rail, ramp, retrospective, retrospectively, seismic, shape, thermal, undercutting, undeveloped, unproved, wide
Removed:
achieve, Advocate, attributed, Australian, Barossa, blend, Build, calibrate, Centre, closing, coast, composed, Concession, CVE, determinable, divested, divestiture, downtime, EIG, exceeding, extinguishment, flexibility, gain, guided, Gumusut, importance, Indonesia, IRS, KOTN, noncore, occur, offtake, operator, operatorship, outline, participate, producer, published, recognizing, refinancing, resilience, resolved, responsive, restructuring, satisfaction, scenario, Select, Sempra, Set, SIAC, society, superior, test, Unconditional, understand, Waha, west
Financial report summary
?Risks
- Our operating results, our ability to execute on our strategy and the carrying value of our assets are exposed to the effects of volatile commodity prices or prolonged periods of low commodity prices.
- The exploration and production of oil and gas is a highly competitive industry.
- Our ability to successfully execute on our energy transition plans is subject to a number of risks and uncertainties and may be costly to achieve.
- Our business may be adversely affected by price controls; government-imposed limitations on production or exports of crude oil, bitumen, LNG, natural gas and NGLs; or the unavailability of adequate gathering, processing, compression, transportation, and pipeline facilities and equipment for our production of crude oil, bitumen, natural gas and NGLs.
- Our ability to manage risk or influence outcomes in joint ventures may be constrained.
- Our operations are subject to hazards and risks that require significant and continuous oversight.
- We expect to continue to incur substantial capital expenditures and operating costs as a result of our compliance with existing and future environmental laws and regulations.
- Existing and future laws, regulations and internal initiatives relating to global climate change, such as limitations on GHG emissions, may impact or limit our business plans, result in significant expenditures, promote alternative uses of energy or reduce demand for our products.
- Broader investor and societal attention to and efforts to address global climate change may limit who can do business with us or our access to financial markets and could subject us to litigation.
- Political and economic developments could damage our operations and materially reduce our profitability and cash flows.
- Political and economic factors in international markets could have a material adverse effect on us.
- We may need additional capital in the future, and it may not be available on acceptable terms or at all.
- Our business may be adversely affected by deterioration in the credit quality of, or defaults under our contracts with, third-parties with whom we do business.
- There are substantial risks with any acquisitions or divestitures we have completed or that we may choose to undertake.
Management Discussion
- Unless otherwise indicated, discussion of consolidated results for the three-month period ended March 31, 2024, is based on a comparison with the corresponding period of 2023.
- Net income (loss) in the first quarter of 2024 decreased $369 million. First quarter earnings were negatively impacted by:
- •Lower realized gas and NGL commodity prices.