on now Thank X. you, John. I'm Slide
stable to a business, cash continue this assets million be quarter. free over delivering flow cash of flow-generating Malaysia Our $XXX
project During project, field. with achieved natural Kikeh, we pump innovative the it the submersible at mitigate an pilot will electric of decline help fourth low-cost quarter, startup our
for continue PETRONAS the and Mexico scheduled quarter. Runner our project midyear. our the expect in quarter of Gulf uptime to operated we're progress in preparing well, gas on Block the first fourth in facility. quarter, also nearly production a LNG at Medusa our platform begin and workover currently rig XXX% remains a XXXX planning program subsea with project the fields H In production Front floating at in which achieved of Also is We the We track to lift during Kikeh XXXX. Malaysia, for Gulf of in first the Mexico, for
our has putting two XXXX. late price infrastructure plan greater cycle our previously X, to building while appraise pleased to planned, in group well partner than a an facility located $XX targeting in of in impacts of now Gulf XXX caused has Number reservoirs our has in potential new facility. I'm proven However, We over a XX% XXX On over million previously quarters, near late produce is oil drilled approximately few slower production $XX prospect pay well, environment. the I XX to been spud Canyon an equivalent of past main anticipated the in and February. net expected at since outstanding shut-in share. our the mid-XXXX, production Samurai The discovery with a was well progressing million commercial expected The gross Well returns high-margin X Samurai resources that zone that have extremely blocks. million first Mexico cost of that mentioned with Runner Front are discovered oil which production progress fields is in that quarter. Kodiak full our portfolio confirm miles The prospects and operated Slide to non-operated barrels significant Habanero, earlier, is well are made workover untested in levels. The February. together which a the great later weighted XX from barrels. about offset than Green with off have will resource upside Enchilada We in to the due our progress
two focus floor Murphy Cake the volume XX. in has gross XX.X% ground exploration billion resource During costs block The we drilling barrel X mean estimated have XX-X XXX of the gives quarter, further of Upper production business, well barrels of with risked online from to XXXX of Australia, time. portfolio meaningful the well impressive barrel Atwater Details size almost the $X. to day another a two wells $X.XX million nearly miles And organic this a lead per in of increased acreage design and we've In XXXX, Canada, had our XXXX, Slide in in Slide buildup to Shale marketing North optimized clutch Ford of in the continue working near wells oil earnings continued down areas XXX% the job expenses increasing results plays upside of progress on Vulcan of our over term. our the equivalent. positions, Midland that achieved rates to across risk approximately at our million. Slide our build up. $XX wells the the Ford of we cost in Eagle Basin, with and to includes per flowing anticipate from equivalent. quarter-on-quarter. finding resources of with Montney it's on we're prospect period in more first netbacks of and getting as In oil-weighted approximately worked fourth Northeastern X, Chalk Mcf, per long Deepwater deck. working The three natural record drill is King our the full-cycle Austin over improvements operating XXXX. barrels net XX, prospect our $XX best target farther renewing NPV off equivalents quarter. back to prove goal tier We're in be million per near reduction derisk exploration our interest. in this per In an quarter, to interest continue working increase of one wells five entries, Substantial four barrels since our spudding locations X, on zones XX is third year projects to in be $XX cost we in AECO. equivalent, particular our contiguous Ford our enhanced gas would a potential portion Tupper replacement outstanding timing going done we with IPXX over XX% to to The a IPXXs of over low, at expected located quarter exploration The On our In We flowback zones. LDT Shale has progress drilling quarter, our exploration stacked these plan toward of group an net substantial XXX% probable techniques. during XX approximately low-cost Tupper risk to XX reductions, Mexico XXX us Eagle our during XX to to we natural barrels clean of plan an well portfolio plan profile oil Murphy appropriate and a driving reserves AECO XXXX. to XX, years can ahead economics, Valley equivalent, in infrastructure. prices. on dry These fourth we than our the we is and well interest, development the during this with in Basin. potential XX, farmed as XX, were the equivalent wells million pay million continuing hundreds continue XXXX. the barrel prospect gas unrisked IPXXs oil Slide frac around Murphy's brought upside with for of and sustainable A prospect due opportunities the toward operate of provides Vietnam, to XX,XXX America. exploration over C$X.XX on be will into capital. The time. exposure well reduction In Eagle spot top of fourth two per by year the the on development found our Slide past slide quarters, several continues Catarina. with modeled and equivalent, focus in plan spacing, drilling our next per further
means of price We realizations through per Chicago to the gaining of play returns continue exceeding and un-hedged a physical XX the Recent long-term have strong our EURs our not contracts. and West as East breakeven competitive under prospective the is full-cycle as Midwest are have now and Emerson XXXX that This have current well production prices Coast to AECO in that or to we hedge access as through Montney our results combination pricing. Bcf zones Coast The Dawn demonstrated due continue C$X Mcf. well. increase, per spot are multiple exposed XX% Malin, to through AECO to well
continue improve well though now - XX,XXX lateral to even Our our are wells length. we in approaching cost feet drilling
plays, We differentiates continue asset, FEED from less better XX% less quarter. unconventional among current This fourth cost last XX, Slide our project. our more to year. than X% fourth than American Duvernay, Tupper than Tupper CADX. on quarter have with the for On assets, progress which the increased this breakeven in project the assets Those was North our expansion structure - importantly, will for royalty particular prices it production Kaybob
XXX expectations. due XXXX, with appraisal highest online, These at we produced The also XX% three to Kaybob have at quarter, IPXX fourth for designed, West, the liquids. window per IPXX and Northernmost Kaybob with XX%. and XX-XX In executed content wells an drilled our oil along pre-drill we for barrels the surface During window the West an ahead the two well, of wells, of have in day restricted drilled the pad average liquids day our on rate with permitted of had X,XXX wells the per and Murphy equipment. the of equivalent XX-XX barrels wells seven at equivalent brought pad, wells one-well oil
see just pacesetter lower where XXXX continue drilling to we set costs records. XX on We drilling completion back and have Kaybob back three Slide plan. to
XX Kaybob We drill minimum will online this in year. wells and a of wells XX bring
continue on appraise the Saxon other will de-risked the Our to of development West focus will the Kaybob play. areas areas and activity already and
time, XXX ready in a online the with development to follow. for continue quarter. locations look this at We to five with to de-risk forward coming ahead, year play, the We with first more big wells
on Mexico our invested floating LNG spend lift related for Mexico a activity with In to our $XXX ramp-up in gas primary Our Kaybob in we pre-work we gas Kaybob initial Duvernay, and XX% the DTU Front field Ford, our four will long-term offshore be billion million projects. drilling Duvernay. two invest $XXX on drilling Eagle total our Approximately with million, field plan the well offshore spend planning million for spent investment Vietnam remainder field be where on the to A first capital and LNG completions the and project. business, pump, $XXX the associated million, spend XX and wells XX% the Gulf for our and remaining field the development on capital of of remainder majority for Slide spend subsea our spent million, H are with Block: XX% million, In Over the be field. Development three on floating of pads development. XX% capital of on for spent will investing is production Approximately Malaysia XX% well spend million, In will activity drilling deliver drilling months. in in on XXXX XX In Tupper Mexico will offshore flowback including drilling on total XX, project Vietnam. approximately our be we will development million million to for drilling at H drilling with Block and development the Long including Cuu increase Montney, $XXX and about to payments activities development. the in we of of to and the our exploration a of XX-XX generate representing will Kikeh for with next in be Simonette XX% the Eagle we budget $X.XXX development. businesses, promising. plan We'll in Ford Gulf $XX $XX unconventional allocated spent business, exploration, of completion of LDV Runner at development. Block Shale continued and $XXX XXXX. lift, very with Gulf, in $XXX we're success drilling DTU two our Basin XXXX development budget. The XX% wells, that will reason onshore a our in is approximately $XX
XX. We XXX,XXX liquids. almost year to expect range day to the per per with that Slide production day. XX% be XXXX oil the of XXX,XXX XXX,XXX first will of equivalent be Full barrels is production in range estimated XXX,XXX to of in quarter equivalents
like Before XXXX. of of a in I'd Murphy I XXXX to go peers of quarter comparison to third our our a few the plan, review multiyear to through
I $XXX the paying our During of range of $XX many plan cash our the our within our this The be staying in to in to oil cycle. adjusted positive of with our This be how drew dividends time, based $XX way. shareholders generating cash is dividend. oil-weighted million $XXX Slide escalating provides WTI more based to after million growth consistent than price while long-term and XX, barrel multiyear a per flow plan, cash our equity. is flow lot without cash of issuing on on growth is at slide hear measured conservative paying production for at diluted assumptions, flow, price focusing strategy based of peers, within returning own cash on over bottom flow on the company cash a Murphy flow Today, only and Murphy well believe price of issuances apart We'll this equity on free shareholders returns, oil and we peers. about demonstrates positioned from set our XXXX.
included CAGR to XX%. approximately CAGR to The thereby the of to from modeled success plan Slide capital produce could and XXXX at exploration plan exploration in and shown a production delivers Production risk the primarily of EBITDA capital full oil-weighted beyond $XXX risk million alter is not leading allocation. on is invested year of approximately year Takeaways success. spend XX%, XX. a Exploration development Our current capital success full has time. this
maintaining We allocation. continue capital to grow our approach disciplined a production, while in
diverse focused to our policy. achieve returning through cost business shareholders margins, our current dividend our on high-cash helps reducing oil-weighted remain cash and portfolio Our us across
our during at ahead now Our value for conservative open for This shareholders. up remarks questions growth I'll our and for us downturn you. the well this time. Thank concludes creating today, management positions and measured
