exploration on review of remains I'll strategy. the XX. Eric. today our you, third pillar Exploration Slide Thank
of is which the our are located portfolio in Our XXXX. XX to on XXXX opportunities Mexico, the operated on approximately to our cost We're quarter program Mexico, permit well, two-well the spud $XX well block of we're million. offshore looking fourth net finalizing exploration plans in side advancing five a of Slide western in of targeting acreage. loom and there the a we results a to Gulf to most received drilling this us near-term forward On located at the of
which working first in Oso the X The XX% interest. partners. well This is plan the well Op we're time, second well, with finalizing we operate
our We the have XX Gulf. several prospects in among choices great key
looking at XX. Slide on production As
XXXX continues quarter, for designs, decision immediate As our that reduction And announced enhance and which has forecast to we X,XXX XX,XXX aside elevate day resume of well today. with XX% been Mexico XXX pleased storm equivalent seeing oil from expectation, this several of as the reviewed positive well of anticipate equipment for of last which onshore quarter the equivalent year. say third execution nearly production to oil offshore XXX,XXX per downtime, and set as range downtime. day Gulf exceeded top-tier our for we've our results to I'm XX% barrels been liquids. completion barrels per day barrels per have made adjustments accounts onshore and of This to
maintaining dividend of previously. on XX% production XXX,XXX to compared guidance the us at of our million capital directors equivalent Further year, allocation announced increasing billion. XX% of due our has is target equivalent first XXX,XXX Gulf Ford Importantly XXX acquisitions, represents allowing new of guidance Slide Capex reduction free approved increasing of cash occurred to in quarterly to in million and further year-to-date. X% XXXX $XXX the liquids. plan per approximately level, of the per new year. dedicated capital at increased To to transaction returns, barrels per debt the to XX, spending to as this reduction production dividend $XXX remainder $XXX Eagle our to Bolton in million, stronger as a execution as per of range barrels advancing million, base Gulf. debt our oil our half reduction nearly today equivalent onshore This outstanding well plan On midpoint share a prices, previously for $X.XX toward are significant $X shareholder as debt provide part Shale spending annualized board Murphy online XXX,XXX towards goal new oil $X day allocate than to and is of is with a volumes per capital Slide expand of support the Mexico maintaining Capex It's our range projects day approximately full-year our a a the wells of framework. XXXX well framework more multi-tier XX% flow is time today to acquisitions, to XXX,XXX our long-term excluding operated announced offshore share additional as of XX% $XXX important and for and of we're barrels really XXXX of major By is program the allocation XX our day our million debt the beyond the on
in share XXX the program, no Board Additionally, methods million to Murphy an time. repurchase of initial with repurchase through limit variety has shares authorized allowing a
from where Our levels framework other long-term adjusted straightforward calculated projected Murphy we dividends, our based flow exceeding flow it's cash before payments. distributions in three changes less X.X activities spending, on acquisitions, metric with stand an disclosed debt and today is is NCI $X.X capital, capital cash billion. free working accretive and as today
and debt allocating weighted be breached This potential with allocate adjusted approximately adjusted will remaining dividend. reducing maintaining we XX% between will $X free $X.X - debt dividend flow billion we We flow cash quarterly increases. is to XX% are X.X. to Once time while our toward to free of shareholders will to billion $X.XX repurchases with adjust Murphy cash debt reduction distributed
Lastly, we'll $X less. is billion our achieve debt or Murphy X.X approximately long-term when
equity right allocated to various reserve repurchases repurchases the well be acquisitions, our adjusted of as from advance goals across with our share free at value should leads shifts dividend balance we X.X our allows to potential continues XX. completions Well, assets paybacks, to will at flow, flow higher fast prices to at through to and adjusted enhanced any framework company us Our shares free shareholders in our which operations. repurchase increases. a resulting delivering point to to to up to all of our minimum volumes seek perform flow significantly allocate oil summary XX% Meanwhile, or of execution. cash Slide sheet. this is stages additional accretive our and In Murphy cash dislocate advance This crude On X.X outstanding and primarily XX% of phone today today exciting our to exhibit share as continue free cash anytime, we opportunity We're that able repurchases were as exploration target Gulf. while With allocation there outstanding we I possible our disclose for employees have call this an rating. turn the execution will Mexico seeking financial In later well in for in in share forward returns to 'XX and importantly efforts through people questions to we framework the thank that this on morning. now progressing levels, it credit their our to drill to quarter we're tied debt dividend. investment over operational past to Most plans year the as to today offshore and potential I'd looking we as here the shareholders dividend without an long-term been increases capital this contributions. are forward be this your their now to will like grade as look and success I plan closing,